1、 外文翻译 原文 Foreign Direct Investment and Manufacturing Growth: The Malaysian Experience Material Source: Business Research July, 2008 Author: Gopi Krishnan On the basis of the empirical analysis (the ARDL approach) it is found that FDI plays an important role in determining he progress of the Malaysia
2、n manufacturing firms. Hence, the mobility of FDI could ultimately alter the progress of the manufacturing sectors. Given the increasing trend of modular production systems, the mobility of multinationals operations has increased. For instance, Chinas cost advantage cum with huge domestic demand had
3、 increased the potential of shifting among foreign investors . Indeed, in recent years it was evident that few of the contract manufacturers have shifted their operation from Malaysia to China. Although, the Chinese and Indian markets provide much catalyst for growth, the foreign investors strategie
4、s to tap the fast growing Asia Pacific region namely regions near to Malaysia would inevitably bring FDI into Malaysia. With the ready availability of good infrastructure, political stability and moderate overall cost, Malaysia is still attractive for FDI provided that the other potential areas are
5、further developed. Until now, it is notable that policy concerning FDI liberalization in Malaysia is still tailored towards providing incentives and other forms of aids for the foreign investors. We suggest that the next viable policy direction of Malaysia should focus on providing the needed comple
6、mentary assets realizing the importance of FDI and labor force in the long run. On the other hand, strategies to enhance the lack of technical progress are further recommended. Hence, the policy recommendation in this section is solely tailored towards enhancing complementary assets in which Malaysi
7、a is relatively weak. Three core strategic thrusts in developing the complementary assets is our emphasis. First, strategic trust should focus on improving productivity and innovative capabilities of the manufacturing sectors.The contribution of technical progress in this paper showed only a margina
8、l significant impact towards the manufacturing sectors. In addition, quality FDI can only be attracted if the host country has the ability to improve the manufacturing outputs through productivity gain rather than depending on the traditional factor of production. Thus, creation of technical and man
9、agement support centers for the manufacturing sectors especially for the small medium enterprise (SMEs) could provide a catalyst for productivity improvement. These centers can play a key role in assisting manufacturers to develop strategic partnership, product development, accounting and marketing
10、supports Although most often, innovation literature follows the neo classical arguments, in a developing country, building innovative capabilities requires the governments intervention. This is due to the lack of private participation in R&D. Owing to the lack of techno-entrepreneurship culture (unl
11、ike Singapore) incentives in a form of tax reduction, research grants, sharing R&D facilities between government agencies and the private firms, linking public institutions and manufacturing firms, and strengthening the abilities of science parks and technology incubators is vital. With these strong
12、 innovative infrastructures, chances to attract FDI would improve. There is also an urgent need to revise the research grants awarded to the public institutions Intensification of Research in Priority Areas (IRPA) research grants, industrial grants and university capabilities in supporting the natio
13、nal innovation systems. Due to the low return on investment of IRPA grants, efforts also should be focused on providing seed and commercialization funding. Indeed, venture capitalist activities (e.g. technology brokers) should be further fostered. On the other hand, more efforts should be given in e
14、stablishing better monitoring systems and selection of grant recipients especially in relation to the industrial grants given to the SMEs. In terms of building universities capabilities, universities need to identify their own nice R&D areas and divert more R&D efforts in developing pool of expertis
15、e in those areas. Reluctance of foreign investors to invest is also due to lack of intellectual property right concern. Governments role in increasing awareness in IPR could create confidence among foreign investors to invest in R&D in Malaysia. Secondly, the heavy reliance on labor among manufactur
16、ers as shown by our estimation and to attract more FDI will require the development of strong human capital stocks. To build better human capital stocks, the level of education and skill should be further improved. For instance, due to the development of high tech human capital , many information, c
17、ommunication and technology (ICT) and pharmaceutical transnational corporations (TNCs) were attracted to diversify their R&D activities in India (UNTAD, 2005). On the other hand, with weak science and technology platform (e.g. scientist and engineers, low level of enrollments in S&T fields) compared
18、 to China and Singapore would also mean that Malaysia would find itself too difficult to attract quality FDIs. Furthermore, the mismatch between the industrial requirements and the skill level provided by the education institutions need to be further improved. Although, the government has granted th
19、e establishment of many private colleges and universities in an effort to improve the knowledge content of its workers, still it is found that many of these mushrooming institutions are still skewed towards offering business (rather the science and technology which is scared) related programs. In fa
20、ct, strengthening the education institutions is greatly needed. These supporting institutions would have the potential to further boost the comparative advantage of the manufacturing sectors. As a whole, we suggest that strategies be focused on improving the coordination efforts between the educatio
21、n institutions and the industrial needs, enhancing the number of available scientist and engineers and provide more science and technology based programs with sufficient practical and industrial training components. Just establishing education institution does not grantee success thus recruiting qua
22、lity teaching staff and placing right students in the right program is paramount important. Improving the establishment of network of foreign universities affiliation with local institutions is vital. Third, the capability of local supplier especially those who serve the foreign investors need to be
23、 strengthened via network cohesion. Efficiency improvement through network of linkages is important for many manufacturing firms .This strategy is indeed in support with the clustering development approach which emphasized inter-firm and intra firm linkages. Indeed the failure of Protons supplier in
24、 upgrading technology capabilities was due to their under developed inter firm sub-contracting networks. Establishing a strong supply chain via horizontal and vertical integration would mean limiting foreign investors from moving out and encouraging more local content indirectly. Hence, the governme
25、nt needs to emphasize on developing well-built regional cluster areas apart from Penang and Klang Valley. However, this strong linkages can only be established when the foreign investors realize that local suppliers are capable of delivering and fulfilling their needs. A strong social capital e.g. t
26、rust should be fostered between foreign investors and the local suppliers. For example, the role of government and trust have enhanced the learning and innovation capabilities among the information hardware industries in Taiwan (Rasiah & Lin, 2005) . 译文 外商直接投资与制造业的增长：马来西亚的经验 资料来源 : 商业研究 2008 年 7 月 作
27、者： 戈皮克里希南 根据 实 证研究分析发现（ ARDL 方法），外国直接投资对马来西亚制造业企业的发展起到了很重要的作用。因此，外国直接投资的流动性可能最终改变马来西亚制造业部门的发展。鉴于模块化生产系统增加的趋势，跨国公司的经营的 流动性有所增加。例如，中国的成本优势和巨大的国内需求增加了外国投资者转移的可能性。但事实上，近年来少数的制造商已经开始把他们的合同从马来西亚转移到中国。尽管中国和印度的市场 为了吸引更多的外国投资者提供了很多有利的条件，但外国 的战略投资者 为把握马来西亚周边快速发展的亚太地区，将不可避免地增在加马来西亚的外国直接投资。 而 马来西亚 也 具有良好的基础设施，
28、稳定 的 政治 环境和较低 的投资成本，这相对于其他的潜在地区来说，马来西亚对于外国直接投资仍然是有吸引力的。 到目前为止，仍值得注意的是，马来西亚吸引外国直接投资政 的 策仍以奖励措施和为外国投资者提供简单的帮助等形式。我们建议，今后马来西亚吸引外国直接投资的政策方向应着重于为外国直接投资者提供必要的有利条件，以实现外国直接投资和本国劳动力的长 远发展。另一方面，应制定发展本国缺乏技术的发展战略，促进本国薄弱技术的发展。因此 ,针对马来西亚在资产方面的薄弱，我们建议应提高资产的互补性 。 在这三个核心战略中，提升资产的互补性是我们发展过程中的重点。 首先，战略互信应着眼于提高制造业部门的生产
29、力和创新能力。本文显示技术进步只对制造业的边际产生重大影响。此外，东道国只有改变制造业的生产力来获得利润而不是依赖传统的生产要素，这样才能吸引高质量的外国直接投资。因此，为制造 业 部门建立技术和管理支持中心，特别是为中小型企业建立技术和管理支持中心可以很好的提高生产力。 这些中心可以在协助厂商开发战略伙伴关系，产品 研发及 会计和市场营销方面发挥关键作用。 在大多数情况下，创新总是在继承传统技术的基础上开始的，所以在一个发展中国家 进行 创新能力 的 建设需要政府的干预。 由于缺乏 私营部门参与研发及 企业文化 的缺失 （不像新加坡）， 所以 采取减税、 增加科研经费 、 政府机构和私营公司
30、共享 研发设施 、 加强 公共机构和制造企业 的联系 及 加强科学园区的创新 能力 显得 至关重要 。 随着基础设施的健全与完善，对 外国直接投资的吸引也将大大改善。此外，对公共机构的资助也是十分的迫切 提高 本地大学进行相关产业研究 的研究补助金，及产业补贴并扶持大学的创新能力从而更好的建设国家的创新制度。由于对 本地大学进行相关产业研究 补助的投资回报较低，所以我们也应对有前景的商业方案提供资助。事实上，风 险资本家（如技术经纪人）的活动应该进一步放开。另一方面 ,应该在建立有效的监控系统和选择资助对象尤其是对中小企业的资助上 花更多的精力。在高校的建设能力方面，大学需要确定自己擅长的 研
31、发 领域，并在这 些领域的 研究 中更多的结合专家的意见。由于外国投资者也 缺乏对知识产权的关注。 政府 可以 在提高外国投资者知识产权意识 方面发挥更大的作用 ， 这也 可以 增强外国 投资者 在马来西亚 研发方面 投资 的信心。 其次， 制 造商对劳工的严重依赖程度也 如我们估计的一样制，所以为了 吸引更多外国直接投资就将需要开发这些巨大的人力资本存量。为了建立更好的人力资本存量，就应该进一步提高教育水平和技能水 平 。例如，由于 印度 高技术的人力资本发展，吸引了许多信息，通信 技术（ ICT）和制药方面的跨国公司（ TNCs），促使他们增加在印度的研发基地（ UNTAD， 2005 年
32、）。另一方面，与中国和新加坡相比，马来西亚落后的科技水平（如科学家和工程师 的缺乏 ，在科技领域较低水平的投入）使得 它难以吸引到高质量的外国 直接投资。此外，我们需要进一步改善企业所需 技能和学校培养的技能之间的不协调。虽然 ， 政府已批准建立许多私立学院和大学以提高工人的知识水平 ， 但是我们发现许多这样的新兴的机构仍偏向于提供一些跟企业商业活动无关的培训 (而不是更适合企业的科学技术 )。 而 事实上，加强教育机构的培训是非常必要的。这些支持机构将有可能进一步推动制造业的比较优势。 总的来说 ， 我们 的 战略 建议应努力集中于改善并协调好教育与工业方面的需要 ， 提高合格的科学家和工程
33、师的数量 , 提供更充足的实用科学和工业技术的培训内容和方案 。 仅仅是建立教育制度是不够的， 关键是 还应该招聘高水平的教职人员和为学生设置 合理 的课程 。 而至关重要的是要建立外国大学与当地机构的交流联系。 第三， 对于 本地供应商的能力，尤其是那些为外国投资者服务的本地供应商的能力更需要通过网络来得到加强。对于许多制造业企业来说通过网络联系来提高效率是非常重要的。这种策略是一种集群化发展的做法，强调企业间的联系和内部 的 坚定支持。事实上，宝腾公司提升供应商技术能力的失败是由于他们之间欠发达的公司转包网络 造成的 。建立一个强大的垂直统一的管理供应链意味着限制外国投资者的移出 ， 并间接的鼓励更多的本地 企业 发展 。因此，政府应该重点发展除了槟城和巴生谷地区集聚区之外 的 地区从而取得平衡发展。但是，这种强有力的联系只能建立在外国的投资者认识到到本地供应商有能力实现和满足他们的需求之上 的 。 例如一个强大的社会资本需要培养国外投资者和当地供应商的信任。例如，政府在信任中所扮演的角色作用加强了台湾资讯硬体产业的学习和创新能力 (Rasiah & Lin, 2005)
