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Реферат Attaction of foreign inflows in East Asia

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Текст реферата Attaction of foreign inflows in East Asia

RUSSIAN STATE PEDAGOGICAL UNIVERSITY BY HERZEN
Economic faculty
Department of applied economy
Course work on theme:
ATTACTION OF FOREIGN INFLOWS IN EAST ASIA
Student of the third course
_________________
Superviser of studies,
Candidate of economic science,
Senior lecturer
Linkov Alexei Yakovlevich
St. Petersburg
200 y.
Plan
1. Integration, globalization and economic opennessbasical principles
in attraction of capital inflows
2. Macroeconomic considerations
3. Private investment:
a) Commercial banks
b) Foreign direct portfolio investment
4. Problems of official investment and managing foreign assets
liabilities
5. Positive benefits from capital inflows
International economic organizations (IEOs), such as the World Bank,
the World Trade Organization (WTO), and the International Monetary
Fund (IMF), have bun promoting economic openness and integration,
centered on free trade and capital flows. as not a complement but a
substitute for national development strategy.
Investment efforts in South Korea and Taiwan were underwritten by
active government strategy, including subsidies, promotion, tax
incentives, socialization of risk, and establishment of public
enterprises. Singapore’ s economic growth was also predicated on
a high investment strategy implemented by the government, even though
Singapore relied relatively more on foreign investors than the other
East Asian countries did.
Regionalism is likely to remain an important factor in global
economic relations in the foreseeable future, as countries continue to
strive for greater access to foreign markets and for solutions to
economic problems and disputes that in many cases might be resolved
only through regional cooperation.
Managing large and perhaps variable capital inflowsor, more aptly,
managing the economy in such a manner as to effectively and
productively absorb these flowsis a major challenge for East Asian
countries. Each country has embarked in its own financial markets,
following initiatives in trade liberalization. Until recently, the
bulk of capital inflows in East Asia has been FDI and projectrelated
lending, both official and private. At the relativly lower levels of a
decade ago, these flows could be readily accomodated. The overall
impact of foreign investment on growth and exports has been very
positive. As the capital flows have increased, they have created
macroeconomic pressures on exchange rates, domestic absorption,
investment policies, and the capacities of domestic capital markets.
The more recent expansion of portfolio investment implies much more
integration into global capital markets and a corresponding increase
in exposure to international market disciplinerefferred to by some as
marketconditionalitythat will circumscribe policy options and limit
the range of possible deviation from global norms on a number of
variables.
The increased complexity of these poses serious policy challenges to
authorities, whose primary objective is to promote