| Summary: | 碩士 === 國立臺灣大學 === 經濟學研究所 === 100 === Since the mid-twentieth century, the international economic environment has undergone great changes, especially the development of economic globalization. Thus eliminating the various barriers of financial regulation and international capital flows has become an irresistible trend around the world in order to make the finance more liberalized and internationalized.
The purpose of this study is to analyze the effects of capital mobility on Taiwan’s economy. It builds a macro-econometric model for the Taiwan economy in this paper. We use the scenario analysis concerning the conditions: (1) capital inflow increases ;(2) capital outflow increases. Furthermore, the international investment is sorted to foreign direct investment (FDI) and foreign portfolio investment (FPI).
The results indicate that the outward FDI and outward FPI have a negative effect on the GDP in the short run because the domestic investment decreases. Compared to the outward FPI, outward FDI has a higher influence on the domestic real economic variables. And the inward FDI and inward FPI have a positive effect on the GDP because of the rapidly accumulated capital. In general, the inward FPI is more influential on domestic economy than the inward FDI in the short run.
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