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Title:Revisiting the OLI paradigm: The institutions, the state, and China's OFDI PDF Logo
Authors:Liang, Hao
Ren, Bing
Zhu, Haikun
Issue Date:2011
Series/Report no.:CESifo working paper: Fiscal Policy, Macroeconomics and Growth 3642
Abstract:We propose a modified theoretical framework based on John Dunning's classical OLI paradigm in the international business literature to analyze Chinese firms' fast-growing and aggressive outward foreign direct investment (OFDI). In particular, from an institutional perspective, we suggest a state-stewardship view to incorporate state institutions into the OLI paradigm. This paper supplements our earlier work (Ren, Liang, and Zheng, 2011) on identifying the formal institutional determinants of Chinese firms' OFDI motivations and strategies, by further looking at the impact of direct and indirect policies, and the OFDI state-controlled financial intermediaries. Under our modified OLI framework we also examine the potential concerns on China's state-backed OFDI and its implication on long-term sustainability.
Subjects:outward foreign direct investment
institutions
state-stewardship view
OLI paradigm
JEL:F23
H81
M48
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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