TRADE-RELATED EFFECTS OF FOREIGN DIRECT INVESTMENT IN RECIPIENT COUNTRIES: INTEGRATED APPROACH
Keywords:
foreign direct investment, foreign trade, trade-related effects, multinational enterprises, global value chainsAbstract
An integrated approach to the explanation of foreign direct investment trade-related effects in host countries is developed the article. It is based on the synthesis of micro -, meso- and macroeconomic approaches to research, which differs from the existing ones by a complex nature and includes: the definition of the concept of foreign direct investment trade-related effects; development of a classification of foreign direct investment trade-related effects by a number of proposed criteria (type of impact, mechanism of influence, source of shaping, period of appearance); identification of specific factors that affect the relationship between foreign direct investment and international trade, the nature of foreign direct investment trade-related effects; definition of types of foreign direct investment from a position of their influence on foreign trade development. The theoretical and methodological basis of the study was the theories of foreign direct investment and production transnationalization that affect the relationship between foreign direct investment and foreign trade, as well as the theories of global value chains. General scientific methods (analysis and synthesis, induction and deduction, logical-historical method, scientific abstraction), systematic and situational approaches were used in the research. The information basis of the study were the analytical reviews and reports of international economic organizations (UNCTAD, IMF, OECD, WTO, World bank), studies of individual scientists. It has been justified that trade-oriented foreign direct investment, including import-oriented, can become a factor in the growth of positive trade-related effects of foreign direct investment in the recipient country to a greater extent than trade-substituting foreign direct investment. And the openness of the economy to imports plays a crucial role here, mainly for technology transfer and development of competition. It was shown also the necessity to separate the concepts of export-oriented and export-stimulating foreign direct investment, as well as import-oriented and import-stimulating.
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