Rural poor economies and foreign investors: an opportunity or a risk?
Rural poor economies and foreign investors: an opportunity or a risk?
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DOI：
10.1371/journal.pone.0114703
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发表时间：
2014
期刊：
影响因子：
3.7
通讯作者：
Ticci E
中科院分区：
文献类型：
--
作者：
Antoci A;Russu P;Ticci E
在当前商业和金融开放的时代，偏远和贫穷的地方经济越来越容易受到外部资本流入的影响。新的投资者享受着比当地居民更低的信贷限制，可能会对当地的发展起到推动作用。与此同时，外部资本的流入可能会对当地依赖自然资源的活动产生负面影响。我们分析了一个两部门模型，在该模型中，两个部门都破坏了环境，但只有国内生产商依赖自然资源。我们评估在什么条件下这两个部门的共存符合可持续性，可持续性的定义是汇聚到以自然资源正存量为特征的稳定状态。此外，我们发现，资本流入可以通过增加流入活动的污染强度来刺激，也可以通过增加国内部门的污染强度来刺激；在这两种情况下，资本流入都会导致环境退化和当地人口福利的减少。最后，我们表明，只有在外部部门对环境的影响相对于当地活动的影响相对较低的情况下，外部投资者资本成本的降低和随之而来的资本流入才能产生增加工资、当地投资和当地人口福利的效果。否则，可能会出现以国内资本积累减少和当地机构贫困为特征的意想不到的情况。
In the current age of commercial and financial openness, remote and poor local economies are becoming increasingly exposed to inflows of external capital. The new investors - enjoying lower credit constraints than local dwellers - might play a propulsive role in local development. At the same time, inflows of external capital can have negative impacts on local natural resource-dependent activities. We analyze a two-sector model where both sectors damage the environment, but only that of domestic producers relies on natural resources. We assess under which conditions the coexistence of the two sectors is compatible with sustainability, defined as convergence to a stationary state characterized by a positive stock of the natural resource. Moreover, we find that capital inflows can be stimulated by an increase in the pollution intensity of incoming activities, but also in the pollution intensity of the domestic sector; in both cases, capital inflows generate environmental degradation and a decrease in welfare for the local population. Finally, we show that a reduction in the cost of capital for external investors and the consequent capital inflows have the effect to increase wages, local investments and welfare of the local populations only if the environmental impact of the external sector is relatively low with respect to that of local activities. Otherwise, an unexpected scenario characterized by a reduction in domestic capital accumulation and the impoverishment of local agents can occur.
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影响因子：
4.7
作者：
Herzer, Dierk;Klasen, Stephan;Nowak-Lehmann, Felicitas
通讯作者：
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影响因子：
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作者：
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通讯作者：
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