Collaborative Research: Foreign Capital Liberalization, Structural Change, and Economic Empowerment of Vulnerable Groups

合作研究：外资自由化、结构变革与弱势群体经济赋权

• 批准号: 2049780
• 负责人: Adrien Matray
• 金额: $ 8万
• 依托单位: Princeton University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2021
• 资助国家: 美国
• 起止时间: 2021-07-01 至 2023-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=2049780&HistoricalAwards=false
• 关键词: Collaborative; Research; Foreign; Capital; Liberalization

Many countries have promoted increased foreign capital liberalization as a path to economic growth and development. However, little is known about the social consequences of these policies. This research project will study the socio-political and distributional effects of foreign direct investment (FDI) induced by these policy changes. Using the staggered liberalization of access to foreign capital across several industry groups, the research will attempt to answer the following questions: (1) Does foreign capital liberalization in the manufacturing and/or service sector accelerate the process of changing the structure of economies? (2) What are the social, economic, health, and political, and distributional consequences of foreign capital liberalization policies, especially for vulnerable groups, such as women, racial and other minorities? The research project will build a large data set disaggregated at local administration level to study these issues. The results of this research project will guide policies to deal with the possible economic effects of foreign direct investment. It will also provide guidance on policies to decrease the possible negative social consequences and distributional effects of foreign direct investments. This project exploits the staggered liberalization of foreign capital flows to different disaggregated industries at different times to measure the causal average and distributional effects of foreign capital liberalization. This project has two parts: The first part measures the effects on occupational switching, gender attitudes, human capital, and fertility. The second part will measure the effects on social outcomes related to the rise of populism, such as crime, political attitudes, and religious violence. Treatment of industry by foreign capital liberalization is measured by the pre- and post-reform mix of industries in a district. The analysis will then use a local labor market difference-in-differences (diff-in-diff) strategy to compares outcome change in affected and non affected districts from the pre- to post-reform period. The project will build panel datasets that will be harmonized at the district-level to measure the distribution effects of policy changes. This project will provide one of the first causal evidence on the effects of foreign capital liberalization on structural change as well as on a broad range social effects, such as female labor force participation, fertility, and education. The results of this project will provide guidance on policies to decrease the possible negative social consequences and distributional effects of foreign direct investments.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.

许多国家促进了外国资本自由化的增加，这是通往经济增长和发展的途径。但是，这些政策的社会后果知之甚少。该研究项目将研究这些政策变化引起的外国直接投资（FDI）的社会政治和分配影响。 利用几个行业群体中外国资本通往外国资本的交错化，该研究将试图回答以下问题：（1）外国资本自由化在制造业和/或服务业中是否加速了改变经济结构的过程？ （2）外国资本自由化政策的社会，经济，健康，政治和分配后果是什么，特别是对于妇女，种族和其他少数民族等弱势群体？ 该研究项目将建立一个大型数据集，该数据集在地方管理层面进行分解以研究这些问题。 该研究项目的结果将指导政策处理外国直接投资的可能经济影响。 它还将为政策提供指导，以减少外国直接投资的负面社会后果和分配影响。 该项目利用外国资本流量交错的自由化在不同时间向不同的分类行业进行了衡量，以衡量外国资本自由化的因果平均水平和分配影响。该项目有两个部分：第一部分衡量对职业转变，性别态度，人力资本和生育的影响。第二部分将衡量与民粹主义兴起有关的社会成果的影响，例如犯罪，政治态度和宗教暴力。外国资本自由化对工业的治疗是通过一个地区的行业前后组合来衡量的。然后，该分析将使用当地劳动力市场差异（DIFF-IN-DIFF）策略来比较从改革前到改革后的受影响地区和非受影响地区的结果变化。该项目将构建面板数据集，该数据集将在地区级别进行协调，以衡量政策变更的分布效应。该项目将提供有关外国资本自由化对结构变化以及广泛的社会影响（例如女性劳动力参与，生育能力和教育）的影响的首次因果证据之一。 该项目的结果将为政策提供指导，以减少外国直接投资的负面社会后果和分配影响。该奖项反映了NSF的法定任务，并被认为是值得通过基金会的知识分子和更广泛影响的评估评估来支持的。

项目成果

Misallocation and Capital Market Integration: Evidence From India

错配与资本市场一体化：来自印度的证据

• DOI: 10.3982/ecta19039
• 发表时间: 2023
• 期刊: Econometrica
• 影响因子: 6.1
• 作者: Bau, Natalie;Matray, Adrien
• 通讯作者: Matray, Adrien