INTERNATIONAL INVESTMENT
PREREQUISITES: INTERNATIONAL ECONOMICS
OBJECTIVES
This course covers four parts: the foundation theory, entry mode, climate and management of international investment. Students will have a thorough understanding of international investment through the perfect theoretical frame and vivid illustrations in this course. Apart from that, this course also includes an additional introduction and discussion of China’s direct investment inflow (FDI) and outward direct investment (OFDI) on the basis of the current economic situations in China.
PROGRESSIVE ASSESSMENT
Coursework assignment (10%)
2-hour examination (90%)
RECOMMENDED TEXTBOOKS
1. Qi Jianhong (2012),International Investment, 3rd Edition, Tsinghua University Press
2. John H. Dunning (1993),Multinational Enterprise and World Economy. Massachusetts: Addison Wesley.
3. John H. Dunning (2002),The selected essays of John H. Dunning:Theories and paradigms of international business activities, Edward Elgar Publishing.
4.Peter J. Buckley,Mark Casson(2010),The Multinational Enterprise Revisited,Palgrave Macmillan.
5. William F. Sharp, Gordon J. Alexander, Jeffery V. Bailey (1998),Investment, 6thEdition, Prentice Hall.
TOPICS TO BE COVERED IN THE LECTURES/ CLASS SCHEDULE
1． Conspectus of International Investment
Definition and Features of International Investment;
Categories of International Investment;
Origin and Development of International Investment;
Impact of International Investment on World Economy
Ref:
Qi Jianhong (2012),International Investment, 3rd Edition, Tsinghua University Press, Chapter 1.
UNCTAD (2000-2013),World Investment Report.
Yang Dakai, Jiang Ping (2000). International Investment,Shanghai University of Finance & Economics Press
2．Theory of International Investment
Theories of International Direct Investment;
Theories of International Portfolio Investment
Ref:
William F. Sharp, Gordon J. Alexander, Jeffery V. Bailey (1998),Investment, 6thEdition, Prentice Hall.
John H. Dunning (1993),Multinational Enterprise and World Economy. Massachusetts: Adison Wesley.
John H. Dunning (2002),The selected essays of John H. Dunning: Theories and paradigms of international business activities, Edward Elgar Publishing.
Buckley, P.J. and Mark C. Casson (1998). Models of the Multinational Enterprise,Journal of International Business Studies, 29 (1).
Markusen, David., Carr. James, and Keith E. Maskus (2001), “Estimating the Knowledge - Capital Model of the Multinational Enterprise”,American Economic Review91(3), pp. 693-708
3. International Investment Climate
Definition of International Investment Climate;
Evaluations of International Investment Climate
Ref:
Qi Jianhong (2012), International Investment, 3rd Edition, Tsinghua University Press, Chapter 3.
4. Foreign Direct Investment (FDI)
Definition and Features of FDI;
Comparison of EJV, CJV and WOS
Ref:
Mats Forsgren(1998),Theories of the Multinational Firm: A Multidimensional Creature in the Global Economy, Edward Elgar Publishing
Peter J. Buckley,Mark Casson(2010),The Multinational Enterprise Revisited, Palgrave Macmillan.
5. Multinational Enterprises (MNEs) and Multinational Banks
Multinational Enterprises: Main body of FDI;
Multinational Banks: Financial Pillar of FDI
Ref:
Jane HughesandScott MacDonald(2001),International Banking: Text and Cases, Addison Wesley.
Mats Forsgren(1998),Theories of the Multinational Firm: A Multidimensional Creature in the Global Economy, Edward Elgar Publishing
6. Foreign Indirect investment
International Stock Investment;
International Bond Investment;
Technical Analysis of International Portfolio Investment
Ref:
William F. Sharp, Gordon J. Alexander, Jeffery V. Bailey (1998),Investment, 6thEdition, Prentice Hall.
7. International Flexible Investment
International Lease;
International Trust and Investment;
The “Three plus one” trading mix: custom manufacturing (with materials, designs or samples supplied by the customer) and compensation;
International Engineering Contract
Ref:
Qi Jianhong (2012), International Investment, 3rd Edition, Tsinghua University Press, Chapter 8.
8. Management of International Investment Risk
Conspectus of International Investment Risk Management;
Identification, Evaluation and Prevention of Commercial Risk and Political Risk
Ref:
Philipp Harms (2000),International Investment, Political Risk and Growth. Springer.
9. Management of International Investment Law
Two perspectives: Investing countries and Host Countries;
Three Measurements: Encouragement, Protection and Restriction
Ref:
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,Christoph Schreuer(2008),Principles of International Investment Law, Oxford University Press.
Turini, Alessandro, Dieter Urban (2000),For Whom is MAI? A Theoretical Perspective on Multinational Agreements on Investment, December.
10. China’s FDI and OFDI
How China Take Advantage of FDI and OFDI;
Problems of China’s FDI and OFDI;
Outlook of China’s FDI and OFDI
Ref:
Qi Jianhong (2012),International Investment, 3rd Edition, Tsinghua University Press, Chapter 11-12.
Jiang Xiaojuan (2004),FDI in China: Contributions to Growth, Restructuring, and Competitiveness, Nova Publisher.
Yong-Wong Cheung (2009), The Empirics of China's Outward Direct Investment,Pacific Economic Review, 14: 3, pp. 312–341.