4. 國外直接投資的理論依據 Summary of major FDI theories Theory Salient Points Major Authors Neoclassical Trade Theory Nations trade because of price differences, these are due to cost differences Heckscher (1949); Ohlin (1933) Economic Geography Theory Geographical endowments or comparative advantage of a location as sources of the emergence of an agglomerated location Marshall (1920); Krugman (1991); Porter (1990, 2000) National Market Arbitrage Theory or Financial Theory Pattern of FDI can be explained because the source country firm has an advantage in financing the capital over host country firms . Aliber (1970) International Product Life Cycle Theory A product starts and gains critical mass in advantaged nation, such as the U.S., with technological capability to introduce a new product. Internationalization follows through exports to FDI, and on maturity, production is located solely in LDCs . Vernon (1966,1971,1979); Wells (1968)
5. 國外直接投資的理論依據(續) Market Imperfections Theory Or Monopolistic Theory A firm engaged in FDI must possess monopolistic advantages to compete with local firms in host countries. Hymer (1976); Kindleberger (1969); Caves (1971) Macroeconomic Theory FDI should originate from the home country’s comparatively disadvantaged industry to the comparatively advantaged industry in the host country. Kojima (1973); Ozawa (1979b) Internalization Theory ‘ The operation of a market costs something’. To obtain a higher return on its investment, a firm engaged in FDI will control production and marketing through a vertically integrated structure Coase (1937); Williamson (1975); Buckley and Casson (1976); Rugman (1981); Hennart (1982); Teece (1986) Location Theory Location specific variables influence spatial distribution of production processes. Greenhut (1952); Losch (1954); Horst (1972); Dunning (1973) Eclectic paradigm FDI can arise when MNE has ownership, location and internalization advantages. (Combines Location, Market Imperfections, and Internalization Theories.) Dunning (1997,1980,1988,1993)