西山 博幸

This paper presents a North-South firm-heterogeneity model with trade and two types of foreign direct investment (FDI): vertical and horizontal. We examine the short-run effect of exchange rate changes on intra-industry reallocation. Home currency depreciation concentrates intra-industry resources on export firms and away from domestic and FDI firms. The effect of the depreciation on industry-wide productivity is uncertain in a purely theoretical analysis, but the robust estimation in a fixed effects model using firm-level data (2010–2015) from the Japanese manufacturing industry (general machinery, electric machinery, and transportation equipment) suggests that home currency (yen) depreciation raises industry-wide productivity.

This paper aims to examine the relationship between the location choices of multinational enterprises and their productivity considering the North-South differences in regard to technological constraints. We find that home firms with the highest level of productivity choose to undertake foreign direct investment (FDI) in the developed countries and they choose to export to, rather than do FDI in, developing countries. This result explains why not many high tech industries exist in developing countries. Using Japanese firm level data, we also confirm that Japanese high tech firms tend to undertake FDI in developed countries, but hesitate to invest in developing countries empirically. © 2013 John Wiley &amp Sons Ltd.

This paper examines the effect of foreign direct investment (FDI) on homewages by using a model assuming that two complementary intermediate goods are combined into a final product by an international/domestic division of labour. We find that FDI triggers higher (lower) home wages in the case that the ratio of non-unionized workers to unionized workers is sufficiently low (high). In addition, even if domestic and foreign production are complementary, thewages in the case of FDI can become lower than those in the case without FDI, in contrast to Skaksen and Sorensen (2001). © 2010 Korea International Economic Association.

We present an asymmetric model with firm heterogeneity and foreign direct investment (FDI) from a developed country to a developing country. We found that the successful entry firms could be sorted from highest to lowest according to productivity as reimport firms, FDI firms, export firms, and domestic firms. We also found that FDI decreases (increases) the gross national income of the developed (developing) country, but it can either increase or decrease the world income according to the level of the relative propensity to spend. In addition, we demonstrated that FDI influences welfare through variations in average price, national income, and the number of types of goods. (c) 2009 Elsevier B.V. All rights reserved.