4中型映 Chapter 10 国际资本流动的含义和形式: ement International Capital Mo 3资本流出入与资本输出入 Capital Inflow Capital Outflow 1.外国在本国的资产增加1.外国在本国的资产减少 2外国对本国的债务减少;2外国对本国的债务增加 3.本国在国外的资产减少:.本国在国外的资产增加 4.本国对国外的债务增加:4本国对外国的债务减少
Chapter 10 International Capital Movement 国际资本流动的含义和形式： 资本流出入与资本输出入: Capital Inflow: 1. 外国在本国的资产增加； 2. 外国对本国的债务减少； 3. 本国在国外的资产减少； 4. 本国对国外的债务增加； Capital Outflow: 1. 外国在本国的资产减少； 2. 外国对本国的债务增加； 3. 本国在国外的资产增加； 4. 本国对外国的债务减少；
丰 or esTers Type of International Capital Movement-1 8e Capital movement 8长期资本:到期期限在一年以上.。表现为: (1)证券资本:债券,股票和其他 88 (2)实物资本:厂房和生产设备 8长期资本的流动方式 1.国际直接投资(FDⅠ Foreign Direct Investment 2.国际证券投资 Foreign Security Investment 3.国际贷款 International loan
Type of International Capital Movement-1 Capital Movement 长期资本：到期期限在一年以上。表现为： （1）证券资本：债券，股票和其他 （2）实物资本：厂房和生产设备 长期资本的流动方式 1. 国际直接投资（FDI）Foreign Direct Investment 2. 国际证券投资 Foreign Security Investment 3. 国际贷款 International Loan
丰 or esTers Foreign Direct Investment (FDI)--I ge Definition: It is a kind of international capital flows in which a firm in one country creates or expands a subsidiary in another. The distinctive feature of FDI is that it involves not only a transfer o resources but also the acquisition of control That is, the subsidiary does not simply have a financial obligation to the parent company, It is part of the same organizational structure
Foreign Direct Investment (FDI)--1 Definition: It is a kind of international capital flows in which a firm in one country creates or expands a subsidiary in another. The distinctive feature of FDI is that it involves not only a transfer of resources but also the acquisition of control. That is, the subsidiary does not simply have a financial obligation to the parent company; it is part of the same organizational structure
丰 or esTers Foreign Direct Investment (FDi B8国际直接投资:一个国家的居民直接在另一个国家 进行实物资本(厂矿企业)投资,并获得对投资对 象的管理权。 1. Newly Establishment: e.g., agency, subsidiary branch, buy-off, and multi-national company 2.Share-holding: U.S.: those exceeding 10%;China those exceeding 25% of the total share. (including B share 3. Reinvestment ofprofits retained: Though not expressed by the inflow and outflow sometimes
Foreign Direct Investment (FDI) 国际直接投资：一个国家的居民直接在另一个国家 进行实物资本（厂矿企业）投资，并获得对投资对 象的管理权。 1. Newly Establishment: e.g., agency, subsidiary, branch, buy-off, and multi-national company…. 2. Share-holding: U.S.: those exceeding 10%; China: those exceeding 25% of the total share. (including B share) 3. Reinvestment of profits retained: Though not expressed by the inflow and outflow sometimes
中b2 International Security Investment 国际证券投资(一种间接投资)在国际证券(债 券或股票)市场上发行和买卖证券的投资行为。 3国际证券投资与直接投资的区别: 国际直接投资 国际证养投资 1直接承担投资企业的获得股息和红利 盈亏; 2.对企业无管理控制权 2.对企业还有管理权
International Security Investment 国际证券投资(一种间接投资): 在国际证券 (债 券或股票)市场上发行和买卖证券的投资行为。 国际证券投资与直接投资的区别： 国际直接投资 国际证券投资 1. 直接承担投资企业的 盈亏 ； 2. 对企业还有管理权 1. 获得股息和红利； 2. 对企业无管理控制权
丰 or esTers International loan 1. Government loan:政府间的优惠贷款 (1) Agency for International Development (AID) 美国的国际开发署 (2)Overseas Economic Cooperation Fund (OECF)日本企画厅下的海外经济协力基金 特点:期限长,带有捐赠性,也是贷款国带动出口 的手段。 2. Loans from Institution: World Bank, and other regional Institutions 3. Other Loans: Export credit, Lease and bank loans
International Loan 1. Government Loan: 政府间的优惠贷款 (1) Agency for International Development (AID) 美国的国际开发署 (2) Overseas Economic Cooperation Fund (OECF) 日本企画厅下的海外经济协力基金 特点：期限长，带有捐赠性，也是贷款国带动出口 的手段。 2. Loans from Institution: World Bank, and other regional institutions. 3. Other Loans: Export credit, Lease and bank loans
中b2 Type of International Capital Movement-I 短期资本流动:期限为1年或1年以下; 形式为现金和各种票据; 84类短期资本流动 1.贸易资金(国际结算) 2.银行资金(头寸调拨) 3.保值性资本(资本逃避) Capital Flight 4.投机性资本( Stabilizing& Destabilizing Speculations)
Type of International Capital Movement-1 短期资本流动：期限为1年或1年以下； 形式为现金和各种票据； 4类短期资本流动 1. 贸易资金 （国际结算） 2. 银行资金（头寸调拨） 3. 保值性资本（资本逃避）Capital Flight 4. 投机性资本（Stabilizing & Destabilizing Speculations)
丰 or esTers Incentives of International Capital Movement Maximum of profit and minimum of cost. (1) Cheap raw materials (2) Low rent and wage (3)Close to consumption; reduce transportation cos (4)Avoid tariff; (5) Technical information; access to indtstrializeck-cotnitries (6) Securing market share, (7 Lengthen the product life; (product cycle
Incentives of International Capital Movement Maximum of profit and minimum of cost. (1) Cheap raw materials; (2) Low rent and wage; (3) Close to consumption; reduce transportation cost (4) Avoid tariff; (5) Technical information; access to industrialized countries (6) Securing market share; (7) Lengthen the product life; (product cycle)
丰 or esTers Impact of Capital Movement ge Best allocation of productive factors(capital labor, land, and technology) i.e. from abundance to scarcit High efficiency→ productivity个→ World gnp↑ 9 OECD 196112.12 The Code of liberalization of Capital Movements”2《资本流动自由化法规》 8e Case by case concerning individual country towards inflow and outflow of capital
Impact of Capital Movement Best allocation of productive factors (capital, labor, land, and technology); i.e., from abundance to scarcity; High efficiencyproductivityWorld GNP OECD:1961.12.12 “The Code of Liberalization of Capital Movements” 《资本流动自由化法规》 Case by case concerning individual country towards inflow and outflow of capital
丰 or esTers Positive Impacts Capital Exporter Capital Importer Outlets of surplus To bridge the gap of capital: capital shortage; 2. Export-drive; export 2. To create the job credit and loan: opportunity; 3. Adjustment of balance 3. Spill-over effect; of payment(surplus)4. Welfare, income, and tax and reduce trade 5. Re-export, export-orient friction; 4. Market accession
Positive Impacts Capital Exporter Capital Importer 1. Outlets of surplus capital; 2. Export-drive; export credit and loan; 3. Adjustment of balance of payment (surplus) and reduce trade friction; 4. Market accession; 1. To bridge the gap of capital shortage; 2. To create the job opportunity; 3. Spill-over effect; 4. Welfare, income, and tax; 5. Re-export, export-orient