Dch chuyn quc t cc yu t sn xut

7-1

Ti liu tham kho

Carbaugh, Robert J. (2008), International Economics (11 ed.), Canada: Thomson South-Western. Chapter 9. Krugman, P. v Obsfeld, M. (2006), International Economics (7 ed.), Pearson Addison Wesley. Chapter 7. V Ch Lc (2010), u t quc t, B GD&T. Nguyn Th Chnh (2008), Kinh t Quc t, H KTQD HN.
7-2

C cu ca chng
Dch chuyn lao ng quc t Dch chuyn vn quc t qua hnh thc vay v cho vay quc t u t trc tip nc ngoi (foreign direct investment - FDI) v cng ty a quc gia (multinational enterprises - MNEs)

7-3

Dch chuyn lao ng quc t

Gi s

Th gii gm 2 nc: Ni a v Nc ngoi 2 yu t sn xut: Lao ng (L); t ai (T) Cng ngh sx nh nhau 1 hng ha

7-4

Dch chuyn lao ng quc t (cont.) 1. Nn KT ng ca

a. Hm sn xut
Q

Q (T, L)

Th hin mi quan h gia cung ca cc yu t u vo v sn lng sx ra ca nn KT

Q = f(T,L)
Hm sx trong ngn hn: L thay i, T c nh
L
7-5

Dch chuyn lao ng quc t (cont.) b. Sn phm cn bin ca lao ng

MPL

MPL (marginal product of labor) o mc sn lng tng thm khi tng thm 1 n v lao ng vo sn xut

ML = P
MPL

Q L

MPL gim khi cng nhiu lao ng c s dng vo sn L xut.

7-6

Dch chuyn lao ng quc t (cont.) c. Lng thc t

Gi s nn KT vn hnh trong iu kin cnh tranh hon ho v cc hng ti a ha li nhun

= pQ wL rT max =0 L Q p w=0 L pMPL w = 0

p: gi hng ha Q: sn lng (hm sx) w: lng danh ngha L: s lng lao ng r: ph thu t

w MPL = p

T: lng t ai

7-7

Dch chuyn lao ng quc t (cont.) d. Kt lun

Sn lng: sn lng sx ra ph thuc vo khi lng sn c ca cc yu t sx trong nn kinh t V d: Ni a c tng t ai l T v tng lao ng l L, khi sn lng sn xut ra l hm s ca T v L. Mc lng thc t: cng do mc sn c ca L v cng ngh ca nn KT quyt nh V nn KT trng thi t cp, t tc ch tiu dng trong phm vi sn lng sn xut ra.
7-8

Dch chuyn lao ng quc t (cont.) 2. Nn kinh t m ca

a. Gi nh Trang b yu t sn xut 2 nc Ni a v Nc ngoi sao cho:

L L* > * T T

Ni ia d tha tng i v lao ng v khan him tng i v t ai so vi nc ngoi

w w MPL < MPL < * p p

*

Thc y lao ng dch chuyn t Ni a sang Nc ngoi.

7-9

Dch chuyn lao ng quc t (cont.) c. Lao ng dch chuyn

MPL C MPL* D

B (w/p)E w/p O L* MPL * Lao ng Ni a E A MP L

w*/p* (w/p)E

L1; L

* 1

L O* Lao ng Nc ngoi
7-10

Tng lc lng lao

Dch chuyn lao ng quc t (cont.) d. Kt lun

Mc lng thc t: lao ng dch chuyn t N sang NN cho n khi mc lng thc t 2 nc bng nhau. Sn lng: thay i Ni a Nc ngoi

Q = S LE EBL
Th gii:

Q = S LE EBL*
*

Q = S EBA
T
7-11

Vay v cho vay quc t

L mt dng ca thng mi quc t. Tuy nhin vic trao i khng din ra ti cng 1 thi im, m l vic trao i mt hng ha ngy hm nay cho mt hng ha trong tng lai thng mi lin thi gian

7-12

Vay v cho vay quc t (cont.)

Bt k nn KT no cng phi i din vi vic tha hip gia tiu dng hin ti v tiu dng tng lai. Cng thc hin u t nhiu hin ti kh nng sx v tiu dng tng lai cng ln Tuy nhin u t nhiu hn nn KT phi chi tiu t i. S tha hip ny c th hin qua ng gii hn kh nng sn xut lin thi gian (intertemporal production possibility frontier).

7-13

Vay v cho vay quc t (cont.)

ng gii hn sn xut lin thi gian
Tiu dng tng lai

Mt nc c th trao i tiu dng hin ti cho tiu dng tng lai nh cch m n c th sn xut nhiu hng ha ny hn bng cch sn xut t i hng ha kia.

Tiu dng hin ti

7-14

Vay v cho vay quc t (cont.)

Gi tng i ca tiu dng tng lai
Khi mt t nc i vay, n c quyn s hu mt lng tiu dng hin ti v phi hon tr li mt lng tiu dng ln hn trong tng lai Lng hon tr trong tng lai = (1+r)*lng vay hin ti r: li sut trn khon vay V s tha hip l 1 n v tiu dng hin ti cho (1+r) n v tiu dng tng lai Gi tng i ca 1 n v tiu dng tng lai l 1/(1+r)
7-15

Vay v cho vay quc t (cont.)

Gi s
Th gii c 2 nc Ni a v Nc ngoi 2 nc c ng gii hn kh nng sn xut lin thi gian khc nhau Ni a c ngun ti chnh di do nhng c hi u t mang li hiu qu him. Ngc li, Nc ngoi c t ngun ti chnh tng i so vi c hi u t hiu qu. Nh vy, Nc ngoi c li th so snh v tiu dng tng lai so vi Ni a.
7-16

Vay v cho vay quc t (cont.)

Nn kinh t ng ca
Gi tng i ca tiu dng trong tng lai ca Ni a s cao hn Nc ngoi.

0 0 > r < r* 0 r 0 r* + +
Ngha l Ni a c hi u t mang li hiu qu thp, hay t sut sinh li trn vn (mc thu li t u t) thp hn so vi Nc ngoi (r: li sut; t sut sinh li trn vn)
7-17

Vay v cho vay quc t (cont.) Nn KT m ca

MPK C MPK* D

(r/p)E rE/p

B (r/p)E r/p O K* MPK * Vn Ni a K

E

r*/p (r/p)E A MP K Vn Nc ngoi K O*

K1; K

* 1

Tng lng vn trn

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Vay v cho vay quc t (cont.) Kt lun

Li sut thc t hay t sut sinh li trn vn 2 nc bng nhau. Sn lng thay i Ni a Nc ngoi

Q = S K E EAK
Th gii:

Q = S K E EBK *
*

Q = S EBA
T
7-19

FDI v Cng ty a quc gia

So vi cc cng ty ch c hot ng trong ni a, MNEs thng ln hn, kh nng cnh tranh v thng lng cao hn trn th trng quc t, c kh nng thch ng vi nhng chnh sch v qui nh ca nh nc mt cch d dng hn.

7-20

FDI v Cng ty a quc gia (cont.) Cng ty a quc gia l g? Ti sao MNEs la chn hnh thc u t trc tip (FDI) thay v cc hnh thc u t khc? Nhng yu t no nh hng n a im u t ca chng?

7-21

FDI v Cng ty a quc gia (cont.)

1. nh ngha MNEs
John Dunning (1993): Cng ty a quc gia l mt cng ty c u t trc tip nc ngoi v c nh hng ln n vic qun l doanh nghip c u t (cng ty con).

7-22

FDI v Cng ty a quc gia (cont.)

nh ngha FDI
T chc tin t th gii (IMF): FDI l mt s u t vo mt cng ty nc ngoi ni m nh u t nc ngoi s hu t nht 10% lng c phiu thng thng. Vic u t ny c thc hin vi mc ch thit lp mt li ch lu di nc c u t v nh u t c s nh hng ln n vic qun l doanh nghip c u t. Dng chy vn FDI bao gm vn u t mi, li nhun ti u t, v vn u t trc tip khc thng qua vic sp nhp hay mua li doanh nghip nc ngoi.
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FDI v Cng ty a quc gia (cont.)

Phn loi FDI
FDI theo chiu ngang (horizontal FDI) FDI theo chiu dc (vertical FDI)

7-24

FDI v Cng ty a quc gia (cont.)

2. L thuyt v MNEs
John Dunning (1977) tp hp nhiu l thuyt khc nhau v FDI to nn l thuyt chit trung v sn xut quc t (m hnh OLI). Theo m hnh ny, mt doanh nghip quyt nh u t ra nc ngoi nu:

Doanh nghip c li th v s hu (Ownership) Doanh nghip c li th v mt a im (Location) khi u t ra nc ngoi; Doanh nghip c li th t vic ni b ha hot ng sn xut (Internalization)
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FDI v Cng ty a quc gia (cont.)

2.1. Li th v s hu
cnh tranh vi cc cng ty bn a, MNEs cn phi s hu mt s li th Nhng li th ny gip doanh nghip b p c nhng chi ph cho vic hot ng sn xut nc ngoi

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FDI v Cng ty a quc gia (cont.)

2.2. Li th v a im
yu t quyt nh cu v sn phm yu t quyt nh chi ph

7-27

FDI v Cng ty a quc gia (cont.)

2.3. Li th ni b ha sn xut Ni b ha sn xut ngha l vic mt cng ty thc hin v kim sot ton b qu trnh sn xut mt sn phm t khu nguyn liu u vo cho n vic bn sn phm.

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FDI v Cng ty a quc gia (cont.)

Ba cch thc m 1 DN c th s dng cung cp sn phm ra nc ngoi:
Xut FDI Cp Li Chi

khu trc tip license

Vic la chn ph thuc vo: th kinh t theo qui m ph vn chuyn v phn phi cn thng mi quc t
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Ro

FDI v Cng ty a quc gia (cont.)

Xut khu trc tip hay FDI/ cp license
V d: Chin lc ca Sony
Chi ph, USD

1100 800 600

AC

100

200

300

400

500

Copyright 2006 Pearson Addison-Wesley. All rights reserved.

My tnh (chic)

7-30

FDI v Cng ty a quc gia (cont.)

Li

th qui m khuyn khch Sony xut khu my tnh sang Vit Nam khi nhu cu v my tnh ca Vit Nam tng i nh, v khuyn khch vic sn xut Vit Nam thng qua cp license hay FDI khi nhu cu v my tnh ca Vit Nam tng i ln. s lng my tnh c sn xut tng, chi ph sn xut bnh qun trn mi my tnh gim n mt im, sau s c nh.
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Khi

FDI v Cng ty a quc gia (cont.)

Gi s Sony c tnh rng khch hng Nht Bn s c nhu cu tiu dng 200 my tnh trong nm chi ph sn xut 800 USD cho mt my tnh. Gi s nhu cu tiu dng Vit Nam c c tnh l tng i nh, v d l 100 my tnh. Nu Sony sn xut trong nc, sau xut khu sang Vit Nam tng cng 300 chic vi chi ph n v l 600 USD.

7-32

FDI v Cng ty a quc gia (cont.)

Nu Sony sn xut VN hay cp license cho i tc VN sn xut 100 my tnh, chi ph n v l 1100 USD. Bng vic sx trong nc v xut khu sang VN,
Sony tit kim c 500USD (= 1100 USD 600 USD) chi ph sx trn 1 my tnh.

Nu chi ph vn chuyn v phn phi my tnh sang VN nh hn 500USD, Sony s c li nhun ti a bng vic xut khu my tnh sang Vit Nam. 7-33

FDI v Cng ty a quc gia (cont.)

Nu lng cu v my tnh ca VN vt qu 300 chic (v d 400 chic) th vic cp license hay thc hin FDI mang li li nhun cao hn cho Sony. V li th kinh t qui m dng mc sn xut 300 chic my tnh nn mc cu ln hn VN khng cho php Sony sn xut mc chi ph n v thp hn 600 USD.

7-34

FDI v Cng ty a quc gia (cont.)

Bng vic cp license hay u t trc tip thit lp mt nh my sn xut ti Vit Nam, Sony c th sn xut 400 my tnh vi chi ph n v l 600 USD m li tit kim c chi ph vn chuyn v phn phi.

7-35

FDI v Cng ty a quc gia (cont.)

Tng t nh chi ph vn chuyn, nhng ro cn thng mi c th lm gim li th v chi ph sn xut. Nu Vit Nam nh thu nhp khu cao, li th v chi ph sn xut m Sony c c khi sn xut trong nc ri xut khu c th b trung ha. Do , thc hin FDI hay cp license l cch kh thi nht Sony c th thc hin thm nhp th trng Vit Nam.

7-36

FDI v Cng ty a quc gia (cont.)

FDI hay cp license Mt khi la chn vic sx nc ngoi, DN phi quyt nh liu c hiu qu khi thnh lp 1 cng ty sx nc ngoi (FDI) hoc cho 1 cng ty nc ngoi thu cng ngh sx. Khi cp license, MNEs gi nh rng DN a phng c kh nng thch ng vic iu hnh sx ca h vi qui trnh sx ca cng ty m.

7-37

FDI v Cng ty a quc gia (cont.)

FDI hay cp license
Tuy nhin, c mt s ri ro v bt n nh ca vic cp license MNEs la chn FDI

B i tc chn p trong hp ng S bt i xng v thng tin DN kh xc nh ht nhng vn lin quan trong hp ng s bt n trong mi quan h gia cc bn.

Ti sn v hnh b bt chc/ n cp i tc nc ngoi c th hc hi hoc bt chc cng ngh ca DN v tr thnh i th cnh tranh

Khng kim sot c cht lng sn phm

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