| Autor: |
Tam Bang Vu, Eric Iksoon Im |
| Rok vydání: |
2013 |
| Předmět: |
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| Zdroj: |
Journal of Asian Business and Economic Studies. 215:32-46 |
| ISSN: |
2615-9112 |
| DOI: |
10.24311/jabes/2013.215.11 |
| Popis: |
This paper provides a simple theoretical framework on the restriction of short-term investments such as stocks, bonds, and other indirect investments while encouraging foreign direct investment (FDI) as a long-term investment. The theoretical results show that a developing country like Vietnam should maintain certain level of capital controls on short-term investments. The paper then provides an empirical study of the five ASEAN countries that are either in the negotiating process or willing to join the Trans-Pacific Economic Partnership with an emphasis on Vietnam. The empirical results show that FDI has positive effect on GDP per capita in these five countries as a group and as individual economies. In contrast, short-term investment has negative effect on GDP per capita in four economies with Singapore as the only exception. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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