Does Foreign Direct Investment Catalyze Local Structural Transformation and Human CapitalAccumulation? : Evidence from China / Yan Liu

By: Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Publisher: Washington, D.C : The World Bank, 2022Description: 1 Online-Ressource (42 pages)Subject(s): Additional physical formats: Erscheint auch als: Does Foreign Direct Investment Catalyze Local Structural Transformation and Human CapitalAccumulation? Evidence from China. Druck-Ausgabe Washington, D.C. : The World Bank, 2022DOI: DOI: 10.1596/1813-9450-9952Online resources: Summary: This paper examines the effect of foreign direct investment on local structural transformation and human capital accumulation in China, exploiting variations in foreign direct investment inflows across manufacturing sub-sectors caused by China's foreign direct investment deregulation and initial sectoral composition patterns across China's cities and provinces. Using a panel of city-level data from 1990 to 2005, the paper shows that manufacturing foreign direct investment inflows greatly accelerated city-level structural transformation and human capital accumulation. By expanding access to the global market, foreign direct investment created a huge pull factor that drew excess labor away from farms into factories and services. Foreign direct investment has promoted high school and university enrollment by paying a higher wage premium for skilled workers and pushing up the skill premium. The positive effect on structural transformation is largely driven by export-oriented foreign direct investment, while market-seeking foreign direct investment has a much larger effect on college enrollment. High-skill foreign direct investment has a larger effect on college enrollment than low-skill foreign direct investmentPPN: PPN: 1800203101Package identifier: Produktsigel: ZDB-1-WBA | ZDB-110-WBL
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