| Summary: | 碩士 === 淡江大學 === 產業經濟學系 === 84 === Recently, with the changes in the economical
environment and thepromotion of governmental policy, and
under the attraction of developingcountries'' profitable
manufacturing conditions, Taiwan manufacturers shifttheir
investments abroad. Based on the theory of direct foreign
investment(DFI), this thesis focuses on the pooling data of
some fifteen industriesbetween 1987 and 1994. Through
empirical study, this paper studies thefactors that affect
DFI of Taiwan''s manufacturers in China, Hong Kong, US.,
Indonesia, Singapore, Malaysia, Philippine, and Thailand.
As the empirical studies show, R & D activities, vertical
integration,industry concentration ratio affect DFI in
positive ways. The traditionallabor-intensive industries that
are influenced by economic transition moveoverseas as the
supply of labor decreases and the wage rate rises.Non-
economic factors such as the incentive policies and trade
barriersraised by host countries and Taiwan''s domestic
political and socialstability bring decisive influences on
DFI. Among those areas in
question, only the DFI to China is established onvertically
specialized production cooperation. The subject of trade
barriersis relevant only in DFI to U.S. The political conflict
and the rise in crimerate urge Taiwan''s investors to shift
their DFI to China, Hong Honk, andSoutheast Asia. Industries
with R & D advantage tends to invest in China,Hong Honk, U.S.,
Singapore, and Thailand.
In a word, though the determinants of DFI vary from region to
region,the findings of this paper proves valid under relating
theories. This studyadvances a profile of DFI of Taiwan''s
manufacturers. With both economic andnon-economic factors
taken into consideration, this research display thatpolitical
and social stability is the most significant determinant
ofTaiwan''s DFI. In the last few years, as Taiwan experienced
radical economictransit, it becomes a trend to invest
overseas. To avoid "IndustrialHallowing-out," government
should provide a stable and profitable investmentenvironment,
as well as the industrial upgrading and technological
innovation.
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