By Kenneth P. Thomas (auth.)
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Whether incentives promote growth in developing countries is a difficult question. If FDI increases growth, and incentives increase FDI, the answer must be yes. , Carkovic and Levine, 2005) finds that FDI per se does not promote growth, Blonigen and Wang (2005), studying developed and developing countries separately, show that FDI increases growth in developing nations but not industrialized 38 Investment Incentives and the Global Competition for Capital countries. Recent IMF research (Klemm and Van Parys, 2009) challenges even this finding.
In most places, transparency remains the critical first reform goal. However, the analysis in this concluding chapter lays out a number of national and regional agendas for the reform of incentives. 2 Models, Models and More Models This chapter investigates the main approaches used to analyze competition for investment through investment incentives. We begin with general approaches to assessing the use of incentives, including Prisoners’ Dilemma, models in the Tiebout (1956) tradition, incentives as necessary to generate spillovers and the global vs.
Third, a mixed or contingent evaluation of incentives comes from the local vs. global efficiency matrix approach adapted from Cheshire and Gordon (1998) by Rodriguez-Pose and Arbix (2001), and subsequently used in several OECD reports. The market for investment Stephen Guisinger (1985) proposed the notion of a ‘market for investment’, and divided this market into three types based on the location to be served. Investment incentives differ according to market type. Domestic-market-oriented investment tends to garner the fewest incentives as the location choice is constrained to that market.