1、外商直接投资和技术溢出泰国制造业的一个跨行业分析外文翻译#出处：#World Development, 2006, 34（3）:# 541-556#中文3087字#毕业论文（设计）外文翻译#一、外文原文#Foreign direct investment and Technology Spillover:# A Cross-industry Analysis of Thai Manufacturing#Foreign direct investment （FDI） has been widely recognized as a growth-enhancing factor in invest
2、ment receiving （host） countries. FDI not only brings in capital but also introduces advanced technology that can enhance the technological capability of the host country firms, thereby generating long-term and sustainable economic growth. More importantly, the technological benefit is not limited to
3、 locally affiliated firms but can also spread to non-affiliated ones. The latter benefit is usually referred to as technology spillover.#The expectation of gaining from technology spillover persuades many developing countries to offer various incentives in order to attract FDI. However the results o
4、f empirical research to test the validity of technology spillover are far from conclusive. Positive technology spillover from FDI has only been found in some countries.1 Overall, the findings seem to suggest technology spillover is not automatic, but depends on both country specific factors and poli
5、cy environment.#Foreign Presence in Thai Manufacturing#Thirdly, foreign plants are likely to be located in a highly protected industry. The average ERP2 of industries whose output shares of foreign plants are greater than 50% is 15.3%. The exception in these industries would be electrical machinery
6、which is presumably dominated by labor-intensive assembled electronics and electrical appliances. On the other hand, regarding the industries where the share of foreign plants is less than 50%, average ERP tends to be lower at around 10.8%. In addition, the output share of foreign plants is likely t
7、o be associated with the degree of market concentration.#Involvement of foreign plants in the manufacturing sector was predominately in import substituting industries such as textiles, automobiles, and chemicals up to about the late 1970s （Akira, 1989）. From then on, it was directed to more export-o
8、riented activities. To begin with, export-oriented foreign firms entered light manufacturing industries such as clothing, footwear, and toys. More recently, labor-intensive assembly activities in electronics and electrical goods industries have been the main attraction for foreign investors （Kohpaib
9、oon, 2005）.#Such involvement has closely mirrored the shift in the trade policy regime. Thailand began its first national economic development plan in 1961 with an import substitution （IS） regime to promote industrialization. Tariffs were the major instrument used to influence the countrys developme
10、nt path. The role of tariffs to promote the domestic industry effectively began in 1974 with the imposition of an escalating tariff structure, where the tariff rate ascended from raw materials to finished products. These changes increasingly favored the production of finished products, particularly
11、consumer products. In 1975, the range of the effective rate of protection （ERP） in the Thai manufacturing sector was between 36 to 350% （Akrasanee &# Ajanant, 1986）. In 1982, the variation widened from 25.2 to 1,693.4% （Chunanantathum et al. 1984）. Several industries, such as textiles, tyres, furnit
12、ure, automobiles, and leather products, had an extremely high ERP. There was also a high degree of variation in ERP across industries. This tariff structure remained virtually unchanged until the late 1980s, even though in 1974 the government announced a change in development strategy to an export p
13、romotion （EP） regime.#Significant tariff reductions commenced in 1988, starting with electrical and electronic goods as well as with the inputs into these products. Comprehensive packages of tariff reform were implemented in 1995 and 1997. It involved tariff reduction and rationalization. Maximum ta
14、riffs were reduced from 100% in the early 1990s to 30%. By the end of the 1990s, the tariff bands were reduced from 39 to 6 tariff rates （0, 1, 5, 10, 20 and 30%）. The two low rates （0 and 1%） were for raw materials and the two top rates （20 and 30%） for finished products with the two middle rates f
15、or intermediate goods. In addition, tariff restructuring has received renewed emphasis as an essential part of the overall economic reforms aimed at strengthening efficiency and competitiveness over the past two years. The Thai government introduced another effort to lower tariff rates, commencing i
16、n June 2003 （implemented in October 2003）, followed by a fouryear period of tariff reduction from 2004 to 2008. There are around 900 items involved in the second round of tariff reductions, covering a wide range of manufacturing products. The tariff reduction in this round is mainly on intermediate products, thereby maintaining the escalating tariff structure. The magnitude of tariff reduction is moderate, within the range of 0 to 8.9% （Athukorala et al. 2004）.#As a result, average t
