한국의 해외직접투자가 무역과 고용에 미치는 영향 분석

Abstract

This study analyzed the effects of FDI (Foreign Direct Investment) on the trade and employment of electronics industry and automobile industry in Korea. In order to analyze the effects of FDI on the trade and employment, this paper used 613 manufacturers’ panel data for 12 years.

The effects of FDI on trade are as written below: First, FDI did improve trade balance both in electronics industry and automobile industry. Although FDI did increase both intra-company exportation and importation, there was no statistically significant difference in the effects of alternating end goods exportation. Because FDI’s effects on intra-company exportation are greater than those on intra-company importation, trade balance has improved in general. The effects of FDI on trade were determined by intra-company trade. Second, investment on low-income countries for electronics industry and automobile industry shows greater influence on the effects of FDI on improving trade balance than that on high-income countries. Since low-income countries show greater effects of FDI on intra-company exportation than high-income countries, FDI indicates greater effects on improving trade balance. Third, the FDI of cooperative advance companies working with leading major enterprises showed higher improvement on trade balance than that of independent advance companies working individually. This is because the FDI of cooperative advance companies shows greater effects on intra-company exportation than that of independent advance companies but indicates lower effects on intra-company importation. Fourth, FDI improves trade balance both in major and minor enterprises, Fifth, in the analysis on the determinants of intra-company trade, the increase of intra-company exportation slows down by the elapse of time; thus, the chances are that trade balance improvement will also abate.

The effects of FDI on employment are as written below: First, in electronics industry, FDI affects employment negatively while in automobile industry, there is no statistically significant difference. Second, the FDI of cooperative advance companies has less negative effect or rather more positive effect on employment than independent advance companies; thus, there is difference in the effects of FDI on employment by advance types. Third, in the minor enterprises of electronics industry, FDI shows negative effects on employment. Fourth, in electronics industry, due to the FDI, domestic investment and production facilities get to be substituted or transferred to foreign countries; thus, it affects domestic employment negatively.

The significance of this paper is as written below: First, regarding the effects of FDI on the trade and employment, this study has found the fact that it differs by various types such as industry, invested area, advance types, or corporate scale. Second, this study shows that although FDI improves trade balance, it still affects employment negatively. This is because FDI enhances trade balance but affects employment negatively due to the reduction of domestic investment and capital.