East Asia and options for negotiations on investment

Bijit Bora, Chia Siow Yue, Nick Freeman, Shujiro Urata

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Global flows of foreign direct investment (FDI) continued to rise throughout the 1990s, maintaining their momentum despite the onset of the East Asian financial and economic crisis in mid-1997. According to UNCTAD data, global FDI inflows rose by 44 percent in 1998, to $680 billion, and by 27 percent in 1999, to $865 billion (figure 9.1). FDI flows to developing countries declined by 4 percent in 1998, the first decline since 1985, mainly owing to the sharp economic slowdown in East Asia. The decline of FDI flows to developing countries was more than offset by a rise in cross-border merger and acquisition (M&A) activity in developed countries. The 1998 rise in global FDI flows occurred despite a largely unfavorable backdrop: A decline in world economic growth from 3.4 percent in 1997 to 2 percent, a parallel contraction in world trade (in value terms), and major financial crises in East Asia, Russia, and parts of Latin America. In the pre-crisis period (1993–1996), East Asia received around 24 percent of global FDI inflows each year (table 9.1). However, it saw a 7 percent decline in FDI inflows between 1997 and 1998, from $94 billion to $87 billion, the first drop since the mid-1980s. The decline was attributed to sharp falls in FDI inflows for Indonesia and Taiwan, and caused the region's share of the global FDI stock to fall to 16.1 percent in 1999 (table 9.2).

Original languageEnglish
Title of host publicationOptions for Global Trade Reform: A View From the Asia-Pacific
PublisherCambridge University Press
Pages194-217
Number of pages24
ISBN (Print)9780511492495, 052182124x, 9780521821247
DOIs
Publication statusPublished - 2003 Jan 1

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Foreign direct investment
East Asia
Developing countries
Cross-border mergers and acquisitions
Economic growth
Latin America
Asian economic crisis
Momentum
Asian financial crisis
World trade
Financial crisis
Contraction
Economics
Russia
Indonesia
Taiwan
Developed countries

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Bora, B., Yue, C. S., Freeman, N., & Urata, S. (2003). East Asia and options for negotiations on investment. In Options for Global Trade Reform: A View From the Asia-Pacific (pp. 194-217). Cambridge University Press. https://doi.org/10.1017/CBO9780511492495.009

East Asia and options for negotiations on investment. / Bora, Bijit; Yue, Chia Siow; Freeman, Nick; Urata, Shujiro.

Options for Global Trade Reform: A View From the Asia-Pacific. Cambridge University Press, 2003. p. 194-217.

Research output: Chapter in Book/Report/Conference proceedingChapter

Bora, B, Yue, CS, Freeman, N & Urata, S 2003, East Asia and options for negotiations on investment. in Options for Global Trade Reform: A View From the Asia-Pacific. Cambridge University Press, pp. 194-217. https://doi.org/10.1017/CBO9780511492495.009
Bora B, Yue CS, Freeman N, Urata S. East Asia and options for negotiations on investment. In Options for Global Trade Reform: A View From the Asia-Pacific. Cambridge University Press. 2003. p. 194-217 https://doi.org/10.1017/CBO9780511492495.009
Bora, Bijit ; Yue, Chia Siow ; Freeman, Nick ; Urata, Shujiro. / East Asia and options for negotiations on investment. Options for Global Trade Reform: A View From the Asia-Pacific. Cambridge University Press, 2003. pp. 194-217
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