• John Hawkins
Conference paper


Robert Lipsey has provided another interesting paper on foreign direct investment, a topic on which he’s been working for some time. FDI accounts for about a quarter of total international capital flows in the 1990s. As Robert has pointed out, particularly for developing countries it has been the most dependable source of foreign investment. This was starkly illustrated in the Asian crisis. FDI to emerging Asian economies as a whole, and the crisis countries in particular, continued virtually unabated while bankers proved ‘fair weather friends’ switching from massive inflows to massive withdrawals.


Foreign Direct Investment Rich Country Current Account Balance Asian Crisis Dependable Source 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Andersen, P. and P. Hainaut. 1998. Foreign Direct Investment and Employment in the Industrial Countries. Bank for International Settlements, Working Paper No. 61, November.Google Scholar
  2. Frankel, J. and Shang-Jin Wei. 1993. Is There a Currency Bloc in the Pacific? in A. Blundell-Wignall, ed. The Exchange Rate, International Trade and the Balance of Payments. Sydney: Reserve Bank of Australia, pp. 275–307.Google Scholar
  3. Sali-I-Martin, X. 1997. I just ran two million regressions. American Economic Review, 87, pp. 178–83.Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2001

Authors and Affiliations

  • John Hawkins

There are no affiliations available

Personalised recommendations