Labor Skills and Foreign Investment in a Dynamic Economy : Estimating the Knowledge-Capital Model for Singapore

Singapore is an interesting example of how the pattern of foreign investment changes with economic development. The authors analyze inbound and outbound investment between Singapore and a sample of industrialized and developing countries over the period 1984-2003. They find that Singapore s two-way investment with industrialized nations has shifted into skill-seeking activities over the period, while Singapore s investments in developing countries have increased sharply and become concentrated in labor-seeking activities. Singapore s increasing skill abundance relative to all countries in the sample accounted for 41 percent of average inbound stocks during the period, that is, US$18 billion annually; the corresponding figure for outbound stocks was 40 percent, that is, US$5.51 billion annually.

Bibliographic Details

Main Authors:	Chellaraj, Gnanaraj, Maskus, Keith E., Mattoo, Aaditya
Language:	English
Published:	2009-06-01
Subjects:	ACCOUNTING, ADMINISTRATION OF JUSTICE, AFFILIATED ORGANIZATIONS, AGRICULTURE, ANONYMOUS REVIEWERS, BANK CREDIT, BILATERAL TRADE, CAPITAL MARKETS, CAPITAL STOCK, COMPETITIVENESS, CONSTANT RETURNS TO SCALE, COURNOT COMPETITION, DERIVATIVES, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DIRECT EQUITY INVESTMENT, DOMESTIC CAPITAL, DOMESTIC CONSUMPTION, ECONOMIC DEVELOPMENT, ECONOMIC INTEGRATION, ECONOMICS RESEARCH, ECONOMIES OF SCALE, EQUILIBRIUM THEORY, EQUIPMENT, EQUITY INVESTMENT, EXCHANGE RATE, EXCHANGE RATES, EXPORTS, FINANCIAL CRISIS, FINANCIAL INVESTMENTS, FIXED COSTS, FOREIGN CAPITAL, FOREIGN DIRECT INVESTMENT, FOREIGN EQUITY, FOREIGN FIRMS, FOREIGN INVESTMENT, GDP, GDP DEFLATOR, GLOBALIZATION, GOVERNMENT POLICY, GROSS DOMESTIC PRODUCT, GROWTH RATE, HOLDING, HOMOGENEOUS GOODS, HOST COUNTRIES, HOST COUNTRY, HUMAN CAPITAL, HUMAN RESOURCE, INCOME, INCOMES, INCREASING RETURNS, INCREASING RETURNS TO SCALE, INDUSTRIALIZATION, INSTITUTIONAL BARRIER, INSTITUTIONAL BARRIERS, INSTRUMENT, INTELLECTUAL PROPERTY, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL ECONOMICS, INTERNATIONAL FINANCIAL STATISTICS, INTERNATIONAL FIRMS, INTERNATIONAL INVESTMENT, INTERNATIONAL TRADE, INVESTING, INVESTMENT ACTIVITIES, INVESTMENT BARRIERS, INVESTMENT BEHAVIOR, INVESTMENT CLIMATE, INVESTMENT FORUMS, INVESTMENT INCENTIVES, INVESTMENT PATTERNS, INVESTMENT PERFORMANCE, JOINT VENTURES, LABOR FORCE, LOCAL BANK, LOCAL CURRENCIES, LOCAL CURRENCY, LOCAL MARKETS, LOW COST, LOW INCOMES, MARKET CONDITIONS, MARKET DEMAND, MARKET SIZE, MARKETING, MERGERS, MONETARY FUND, MULTINATIONAL FIRMS, NEWLY INDUSTRIALIZED COUNTRY, POLITICAL ECONOMY, POLITICAL STABILITY, PORTFOLIO, PORTFOLIO INVESTMENT, POSITIVE COEFFICIENT, PRODUCTIVITY, PROTECTIONISM, RAPID DEVELOPMENT, RAPID GROWTH, REAL GDP, REAL GROSS DOMESTIC PRODUCT, REGRESSION ANALYSIS, RETURNS, SALES, SKILL DEVELOPMENT, STOCKS, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TRUST FUND, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNEMPLOYMENT RATES, WAGE, WAGES, WTO,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090602084519 https://hdl.handle.net/10986/4143
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