Journal of International Business and Economy

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Asian Economic Crisis, Foreign Direct Investment and Stabilized Economic Growth: Crisis Revisted and Implications for APEC Member Ecomomies
Hwy-Chang Moon and Taeho Bark
Volume 2, Number 1, Fall 2001, pp. 39~56

The Asian economic crisis of 1997 gives us a valuable lesson that foreign direct investment (FDI) can play a more important role in promoting economic stability than other capital flows such as bank lending and portfolio equity investment. This paper explains the relationships between FDI and the crisis. Specifically, it studies the role of FDI in stable economic growth. Recent developments of inward FDI policies by the Asian member economies of APEC are then analyzed, after which they are categorized into four groups within a framework that is developed in this paper. Some important, generalized implications for FDI policies are also provided.

Key words: Asian Crisis, Foreign Direct Investment, Economic Growth, APEC

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