Endnotes

¹GDP rankings from IMF and World Bank data, trade rankings combine export and import totals based on World Trade Organization data, and FDI rankings based on OCO Global data.

²Imports of intermediate inputs also may increase in vertical integration models.

³Fung, Lau, and Lee (2004) provides an earlier extensive examination of US investment in the PRC.

⁴To parallel the Japanese and US data in Tables 1 and 2 we would like to have PRC data for FDI stocks, but we were not able to find the stock data by source countries across time, so we used the available data on FDI flows.

⁵The category holding company (nonbank) is included in the BEA industry breakdown from 2003 onward only. Borga and Mataloni (2001) describe the increased popularity of US FDI in holding companies and the impact of this trend on the BEA survey data in a technical note on pages 23-25.

⁶Again, to maintain consistency in this section, we would prefer to show FDI flows for the PRC, but we have not been able to find this data. The US data from the BEA is available for FDI flows and stocks by industry, but for Japan we have located only FDI flow data by industry.

⁷Rose (2004) and Baier and Bergstrand (2007) find evidence that the effects of WTO accession and PTA formation are best measured with lagged indicators.

⁸See Tanaka (2009) for a description of the RIETI data.

⁹The years 1989, 1994, and 1999 were chosen because the BEA conducted benchmark surveys in these years and final results from these surveys are available.

¹⁰Updated tables to match those in Lipsey (2000) are available by contacting the authors.

Download this Paper [ PDF 138.1KB| 33 pages ].

Comment(s)

There are [0] comment(s) for this entry. Post a comment.