TÁC ĐỘNG CỦA ĐỔI MỚI SÁNG TẠO ĐẾN FDI VÀO ASEAN: TÍNH KHÔNG ĐỒNG NHẤT THEO ĐỘ MỞ THƯƠNG MẠI
Nội dung chính của bài viết
Tóm tắt
Nghiên cứu này xem xét tác động của đổi mới sáng tạo đến dòng vốn đầu tư trực tiếp nước ngoài (FDI) vào các quốc gia ASEAN trong giai đoạn 2011–2024, đồng thời nhấn mạnh vai trò của độ mở thương mại trong việc định hình mối quan hệ này. Sử dụng mô hình bảng động và phương pháp bình phương tối thiểu có hiệu chỉnh sai lệch trong mô hình với biến giả (LSDVC) phù hợp với mẫu có số đơn vị chéo nhỏ. Kết quả nghiên cứu cho thấy đổi mới sáng tạo, cũng như các cấu phần đổi mới đầu vào và đầu ra, không có tác động đến FDI trong mẫu gộp ASEAN. Tuy nhiên, kết quả cho thấy sự khác biệt đáng kể giữa các quốc gia có mức độ mở cửa thương mại khác nhau. Cụ thể, đổi mới sáng tạo đầu ra có tác động tích cực và có ý nghĩa thống kê đối với FDI trong nhóm các quốc gia có độ mở thương mại cao, trong khi không quan sát thấy tác động đáng kể trong nhóm có độ mở thương mại thấp. Ngược lại, đổi mới sáng tạo đầu vào không có ý nghĩa trong cả hai nhóm. Kết quả này cho thấy tác động của đổi mới sáng tạo đến FDI không mang tính đồng nhất mà phụ thuộc vào điều kiện cấu trúc của nền kinh tế, đặc biệt là độ mở thương mại.
Từ khóa
Đổi mới sáng tạo, GII, FDI, độ mở thương mại
Chi tiết bài viết
Tài liệu tham khảo
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2. Albahouth, A. A., & Tahir, M. (2024). The Relationship between Trade Openness and FDI Inflows: Evidence-Based Insights from ASEAN Region. Economies, 12(8), 208. https://doi.org/10.3390/economies12080208
3. Arthur, B., & Addai, B. (2022). The dynamic interactions of economic growth, foreign direct investment, and exchange rates in Ghana. Cogent Economics & Finance, 10(1). https://doi.org/10.1080/23322039.2022.2148361
4. Bruno, G. S. F. (2005). Estimation and inference in dynamic unbalanced panel data models with a small number of individuals. Stata Journal, 5(4), 473–500.
5. Burbidge, J. B., Magee, L., & Robb, A. L. (1988). Alternative transformations to handle extreme values of the dependent variable. Journal of the American Statistical Association, 83(401), 123–127.
6. Çemberci, M., Civelek, M. E., & Cömert, P. N. (2022). The role of foreign direct investment in the relationship between global innovation index and gross domestic product. Gurukul Business Review (GBR), 18, 101–111. https://doi.org/10.48205/gbr.v18.8
7. Chang, C.-P. (2022). Does innovation co-move with FDI? Evidence from OECD countries. Panoeconomicus, 69(4), 509–525. https://doi.org/10.2298/PAN160413006C
8. Dal Bianco, S., & Loan, N. C. T. (2017). FDI Inflows, Price and Exchange Rate Volatility: New Empirical Evidence from Latin America. International Journal of Financial Studies, 5(1), 6. https://doi.org/10.3390/ijfs5010006
9. Dang, V. C. & Nguyen, Q. K. (2021). Determinants of foreign direct investment attractiveness: Evidence from ASEAN-7 countries. Cogent Social Sciences, 7(1), 2004676. https://doi.org/10.1080/23311886.2021.2004676
10. Dempere, J., Qamar, M., Allam, H., & Malik, S. (2023). The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective. Economies, 11(7), 182. https://doi.org/10.3390/economies11070182
11. Dhrifi, A. (2015). Foreign direct investment, technological innovation and economic growth: Empirical evidence using a simultaneous equations model. International Review of Economics, 62(4), 381–400. https://doi.org/10.1007/s12232-015-0230-3
12. Dua, P., & Garg, R. (2015). Macroeconomic determinants of foreign direct investment: evidence from India. The Journal of Developing Areas, 49(1), 133-155. https://dx.doi.org/10.1353/jda.2015.0025.
13. Dua, P., & Verma, N. (2024). Drivers of Foreign Direct Investment Inflows to Emerging Asian Economies. Journal of Emerging Market Finance, 23(1), 83-107. https://doi.org/10.1177/09726527231196722
14. Dunning, J. H. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19(1), 1–31. https://doi.org/10.1057/palgrave.jibs.8490372
15. Dunning, J. H. (1998). Location and the multinational enterprise: A neglected factor? Journal of International Business Studies, 29(1), 45–66. https://doi.org/10.1057/palgrave.jibs.8490024
16. Dunning, J. H. (2000). The eclectic paradigm as an envelope for economic and business theories of MNE activity. International Business Review, 9(2), 163-190. https://doi.org/10.1016/S0969-5931(99)00035-9
17. Elian, M. I., Bani-Mustafa, A., Sawalha, N., Alsaber, A. R., & Pan, J. (2024). Impact of Economic Growth and Exchange Rate Volatility on FDI Inflows: Cointegration and Causality Tests for the BRICS Countries. International Journal of Economics and Financial Issues, 15(1), 42–54. https://doi.org/10.32479/ijefi.17311
18. Gereffi, G., Humphrey, J., & Sturgeon, T. (2005). The governance of global value chains. Review of International Political Economy, 12(1), 78–104. https://doi.org/10.1080/09692290500049805
19. Gereffi, G., & Fernandez-Stark, K. (2016). Global value chain analysis: A primer (2nd ed.). Duke University, Center on Globalization, Governance & Competitiveness.
20. Hammed, Y. S., & Ademosu, S. T. (2023). ICT Innovation, FDI and Economic Growth: Evidence from BRICS. Journal of Economics and Behavioral Studies, 15(2), 20–32. https://doi.org/10.22610/jebs.v15i2.3508
21. Huan, Y. & Qamruzzaman, M. (2022). Innovation-Led FDI Sustainability: Clarifying the Nexus between Financial Innovation, Technological Innovation, Environmental Innovation, and FDI in the BRIC Nations. Sustainability, 14(23), 15732. https://doi.org/10.3390/su142315732
22. Iacobucci, D., Posavac, S. S., Kardes, F. R., Schneider, M. J., & Popovich, D. L. (2015). Toward a more nuanced understanding of the statistical properties of a median split. Journal of Consumer Psychology, 25(4), 652–665. https://doi.org/10.1016/J.JCPS.2014.12.002
23. Iamsiraroj, S., & Ulubaşoğlu, M. A. (2015). Foreign direct investment and economic growth: A real relationship or wishful thinking? Economic Modelling, 51, 200–213.
https://doi.org/10.1016/j.econmod.2015.08.009
24. Ilzetzki, E., & Jin, K. (2021). The puzzling change in the international transmission of U.S. monetary policy shocks. Journal of International Economics, 130, 103451. https://doi.org/10.1016/j.jinteco.2021.103451
25. Kariuki, C. (2015). The determinants of foreign direct investment in the African Union. Journal of Economics, Business and management, 3(3), 346-351. https://doi.org/10.7763/JOEBM.2015.V3.207
26. Khan, Z., Hussain, M., Shahbaz, M., Yang, S., & Jiao, Z. (2023). Determinants of foreign direct investment inflows: A systematic review of the literature. Review of Development Economics, 27(2), 567–591. https://doi.org/10.1111/rode.12948
27. Kiviet, J. F. (1995). On bias, inconsistency, and efficiency of various estimators in dynamic panel data models. Journal of Econometrics, 68(1), 53–78.
28. Kumari, R., & Sharma, A. K. (2017). Determinants of foreign direct investment in developing countries: A panel data study. International Journal of Emerging Markets, 12(4), 658–682. https://doi.org/10.1108/IJoEM-10-2014-0169
29. Lindelwa Makoni, P. (2018). FDI and trade openness: the case of emerging African economies. Journal of Accounting and Management, 8(2), 141-152. https://hrcak.srce.hr/216262
30. Markusen, J. R. (2002). Multinational firms and the theory of international trade. MIT Press.
31. Nasir, M. A., & Zhang, L. (2023). Innovation inputs, outputs and efficiency: Evidence from the Global Innovation Index framework. Innovation and Green Development, 2(3), 100064. https://doi.org/10.1016/j.igd.2023.100064
32. Nguyen, A. T. (2024). Innovation and foreign direct investment attraction in developing countries. Cogent Economics & Finance, 12(1), 2312386. https://doi.org/10.1080/23322039.2024.2312386
33. Nickell, S. (1981). Biases in dynamic models with fixed effects. Econometrica, 49(6), 1417–1426.
34. Oro, O. U., & Alagidede, I. P. (2021). Does petroleum resources or market size drive foreign direct investment in Africa? New evidence from time-series analysis. Resources Policy, 71, 101992. https://doi.org/10.1016/j.resourpol.2021.101992
35. Pham, X. H., Vu, N. X., Nguyen, T. P. T., & Le, M. H. (2024). Nexus of innovation, foreign direct investment, economic growth and renewable energy: New insights from 60 countries. Energy Reports, 11, 1834-1845. https://doi.org/10.1016/j.egyr.2024.01.021
36. Randa, F., & Aimon, H. (2018). Determinants of Foreign Direct Investment in Indonesia. International Journal of Research Science and Management, 5(11), 10-18. https://ijrsm.com/index.php/journal-ijrsm/article/view/381
37. Rathnayaka Mudiyanselage, M. M., Epuran, G., & Tescașiu, B. (2021). Causal links between trade openness and foreign direct investment in Romania. Journal of Risk and Financial Management, 14(3), 90. https://doi.org/10.3390/jrfm14030090
38. Sijabat, R. (2023). The association between foreign investment and gross domestic product in ten ASEAN countries. Economies, 11(7), 188. https://doi.org/10.3390/economies11070188
39. Sothan, S. (2017). Causality between foreign direct investment and economic growth for Cambodia. Cogent Economics & Finance, 5(1), 1277860. https://doi.org/10.1080/23322039.2016.1277860
40. Tziogkidis, P., Philippas, D., & Andronikidis, A. (2018). Measuring innovation efficiency using the Global Innovation Index. Journal of Innovation and Entrepreneurship, 7(1), 1–17. https://doi.org/10.1186/s13731-018-0095-3
41. United Nations Conference on Trade and Development. (2022). World Investment Report 2022: International tax reforms and sustainable investment. United Nations.
2. Albahouth, A. A., & Tahir, M. (2024). The Relationship between Trade Openness and FDI Inflows: Evidence-Based Insights from ASEAN Region. Economies, 12(8), 208. https://doi.org/10.3390/economies12080208
3. Arthur, B., & Addai, B. (2022). The dynamic interactions of economic growth, foreign direct investment, and exchange rates in Ghana. Cogent Economics & Finance, 10(1). https://doi.org/10.1080/23322039.2022.2148361
4. Bruno, G. S. F. (2005). Estimation and inference in dynamic unbalanced panel data models with a small number of individuals. Stata Journal, 5(4), 473–500.
5. Burbidge, J. B., Magee, L., & Robb, A. L. (1988). Alternative transformations to handle extreme values of the dependent variable. Journal of the American Statistical Association, 83(401), 123–127.
6. Çemberci, M., Civelek, M. E., & Cömert, P. N. (2022). The role of foreign direct investment in the relationship between global innovation index and gross domestic product. Gurukul Business Review (GBR), 18, 101–111. https://doi.org/10.48205/gbr.v18.8
7. Chang, C.-P. (2022). Does innovation co-move with FDI? Evidence from OECD countries. Panoeconomicus, 69(4), 509–525. https://doi.org/10.2298/PAN160413006C
8. Dal Bianco, S., & Loan, N. C. T. (2017). FDI Inflows, Price and Exchange Rate Volatility: New Empirical Evidence from Latin America. International Journal of Financial Studies, 5(1), 6. https://doi.org/10.3390/ijfs5010006
9. Dang, V. C. & Nguyen, Q. K. (2021). Determinants of foreign direct investment attractiveness: Evidence from ASEAN-7 countries. Cogent Social Sciences, 7(1), 2004676. https://doi.org/10.1080/23311886.2021.2004676
10. Dempere, J., Qamar, M., Allam, H., & Malik, S. (2023). The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective. Economies, 11(7), 182. https://doi.org/10.3390/economies11070182
11. Dhrifi, A. (2015). Foreign direct investment, technological innovation and economic growth: Empirical evidence using a simultaneous equations model. International Review of Economics, 62(4), 381–400. https://doi.org/10.1007/s12232-015-0230-3
12. Dua, P., & Garg, R. (2015). Macroeconomic determinants of foreign direct investment: evidence from India. The Journal of Developing Areas, 49(1), 133-155. https://dx.doi.org/10.1353/jda.2015.0025.
13. Dua, P., & Verma, N. (2024). Drivers of Foreign Direct Investment Inflows to Emerging Asian Economies. Journal of Emerging Market Finance, 23(1), 83-107. https://doi.org/10.1177/09726527231196722
14. Dunning, J. H. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19(1), 1–31. https://doi.org/10.1057/palgrave.jibs.8490372
15. Dunning, J. H. (1998). Location and the multinational enterprise: A neglected factor? Journal of International Business Studies, 29(1), 45–66. https://doi.org/10.1057/palgrave.jibs.8490024
16. Dunning, J. H. (2000). The eclectic paradigm as an envelope for economic and business theories of MNE activity. International Business Review, 9(2), 163-190. https://doi.org/10.1016/S0969-5931(99)00035-9
17. Elian, M. I., Bani-Mustafa, A., Sawalha, N., Alsaber, A. R., & Pan, J. (2024). Impact of Economic Growth and Exchange Rate Volatility on FDI Inflows: Cointegration and Causality Tests for the BRICS Countries. International Journal of Economics and Financial Issues, 15(1), 42–54. https://doi.org/10.32479/ijefi.17311
18. Gereffi, G., Humphrey, J., & Sturgeon, T. (2005). The governance of global value chains. Review of International Political Economy, 12(1), 78–104. https://doi.org/10.1080/09692290500049805
19. Gereffi, G., & Fernandez-Stark, K. (2016). Global value chain analysis: A primer (2nd ed.). Duke University, Center on Globalization, Governance & Competitiveness.
20. Hammed, Y. S., & Ademosu, S. T. (2023). ICT Innovation, FDI and Economic Growth: Evidence from BRICS. Journal of Economics and Behavioral Studies, 15(2), 20–32. https://doi.org/10.22610/jebs.v15i2.3508
21. Huan, Y. & Qamruzzaman, M. (2022). Innovation-Led FDI Sustainability: Clarifying the Nexus between Financial Innovation, Technological Innovation, Environmental Innovation, and FDI in the BRIC Nations. Sustainability, 14(23), 15732. https://doi.org/10.3390/su142315732
22. Iacobucci, D., Posavac, S. S., Kardes, F. R., Schneider, M. J., & Popovich, D. L. (2015). Toward a more nuanced understanding of the statistical properties of a median split. Journal of Consumer Psychology, 25(4), 652–665. https://doi.org/10.1016/J.JCPS.2014.12.002
23. Iamsiraroj, S., & Ulubaşoğlu, M. A. (2015). Foreign direct investment and economic growth: A real relationship or wishful thinking? Economic Modelling, 51, 200–213.
https://doi.org/10.1016/j.econmod.2015.08.009
24. Ilzetzki, E., & Jin, K. (2021). The puzzling change in the international transmission of U.S. monetary policy shocks. Journal of International Economics, 130, 103451. https://doi.org/10.1016/j.jinteco.2021.103451
25. Kariuki, C. (2015). The determinants of foreign direct investment in the African Union. Journal of Economics, Business and management, 3(3), 346-351. https://doi.org/10.7763/JOEBM.2015.V3.207
26. Khan, Z., Hussain, M., Shahbaz, M., Yang, S., & Jiao, Z. (2023). Determinants of foreign direct investment inflows: A systematic review of the literature. Review of Development Economics, 27(2), 567–591. https://doi.org/10.1111/rode.12948
27. Kiviet, J. F. (1995). On bias, inconsistency, and efficiency of various estimators in dynamic panel data models. Journal of Econometrics, 68(1), 53–78.
28. Kumari, R., & Sharma, A. K. (2017). Determinants of foreign direct investment in developing countries: A panel data study. International Journal of Emerging Markets, 12(4), 658–682. https://doi.org/10.1108/IJoEM-10-2014-0169
29. Lindelwa Makoni, P. (2018). FDI and trade openness: the case of emerging African economies. Journal of Accounting and Management, 8(2), 141-152. https://hrcak.srce.hr/216262
30. Markusen, J. R. (2002). Multinational firms and the theory of international trade. MIT Press.
31. Nasir, M. A., & Zhang, L. (2023). Innovation inputs, outputs and efficiency: Evidence from the Global Innovation Index framework. Innovation and Green Development, 2(3), 100064. https://doi.org/10.1016/j.igd.2023.100064
32. Nguyen, A. T. (2024). Innovation and foreign direct investment attraction in developing countries. Cogent Economics & Finance, 12(1), 2312386. https://doi.org/10.1080/23322039.2024.2312386
33. Nickell, S. (1981). Biases in dynamic models with fixed effects. Econometrica, 49(6), 1417–1426.
34. Oro, O. U., & Alagidede, I. P. (2021). Does petroleum resources or market size drive foreign direct investment in Africa? New evidence from time-series analysis. Resources Policy, 71, 101992. https://doi.org/10.1016/j.resourpol.2021.101992
35. Pham, X. H., Vu, N. X., Nguyen, T. P. T., & Le, M. H. (2024). Nexus of innovation, foreign direct investment, economic growth and renewable energy: New insights from 60 countries. Energy Reports, 11, 1834-1845. https://doi.org/10.1016/j.egyr.2024.01.021
36. Randa, F., & Aimon, H. (2018). Determinants of Foreign Direct Investment in Indonesia. International Journal of Research Science and Management, 5(11), 10-18. https://ijrsm.com/index.php/journal-ijrsm/article/view/381
37. Rathnayaka Mudiyanselage, M. M., Epuran, G., & Tescașiu, B. (2021). Causal links between trade openness and foreign direct investment in Romania. Journal of Risk and Financial Management, 14(3), 90. https://doi.org/10.3390/jrfm14030090
38. Sijabat, R. (2023). The association between foreign investment and gross domestic product in ten ASEAN countries. Economies, 11(7), 188. https://doi.org/10.3390/economies11070188
39. Sothan, S. (2017). Causality between foreign direct investment and economic growth for Cambodia. Cogent Economics & Finance, 5(1), 1277860. https://doi.org/10.1080/23322039.2016.1277860
40. Tziogkidis, P., Philippas, D., & Andronikidis, A. (2018). Measuring innovation efficiency using the Global Innovation Index. Journal of Innovation and Entrepreneurship, 7(1), 1–17. https://doi.org/10.1186/s13731-018-0095-3
41. United Nations Conference on Trade and Development. (2022). World Investment Report 2022: International tax reforms and sustainable investment. United Nations.