1. Investimet Direkte të Huaja
Chapter 7: Foreign Direct Investment
Kapitulli #6

2. Mbasi të kenë studiuar studentët këtë kapitull, do të jenë në gjendje të:
Njoftohen me kuptimin dhe përkufizimin e investimeve
Diskutojnë se çka paraqesin investimet ”fushë e gjelbër” (greenfield) dhe blerja e firmës (përvetësimi)
Vlerësojnë se cilat nga format e IDH janë më së shumti të preferuara
Shpjegojnë faktorët që ndikojnë në rritjen e IDH-ve në një vend
Diskutojnë se cilët janë teoritë ideologjike për IDH-të
Identifikojnë dobitë dhe dëmet e vendit mikpritës nga IDH-të
Shpjegojnë ndikimin e IDH-ve në globalizmin ekonomik

3. Çfarë janë investimet direkte të huaja?
Hyrje
Pyetje:
Çfarë janë investimet direkte të huaja?
AZIf you’ve traveled to London or Beijing, you may have seen some familiar companies like Starbucks or McDonald’s as you walked through the streets. These companies have investments in many countries around the world. In fact, as you’ll recall from the Opening Case, Wal-Mart recently continued its international expansion by acquiring a stake in Japan’s Seiyu. Even if you haven’t traveled to other countries you can see examples of foreign direct investment in your own country. For example, Nissan and Toyota have both made investments in the U.S., and Ford has factories in Mexico.
Foreign direct investment, or FDI, occurs when a firm invests directly in new facilities to produce and/or market in a foreign country. Once a firm undertakes FDI it becomes a multinational enterprise or MNE.
There are two main forms of FDI. A greenfield investment involves establishing a wholly owned new operation in a foreign country. This is what Starbucks has done for most of its foreign expansion. The second type of FDI is an acquisition or merger with an existing firm in the foreign country. Wal-Mart chose this path with its acquisition of Seiyu.

4. Investimet Direkte të Huaja (FDI)
Blerja e aktiveve (aseteve) fizike apo sasi të konsiderueshme të pronësisë së një kompanie në një vend tjetër për të fituar kontroll të menaxhimit
Foreign direct investment is the purchase of physical assets or a significant amount of the ownership of a company in another country to gain some measure of management control.
It differs from portfolio investment, which is an investment that does not involve obtaining a degree of control in a company.
Most governments set the FDI threshold at somewhere between 10 and 25 percent of stock ownership in a company abroad.
The U.S. Commerce Department says that stock ownership above 10 percent constitutes FDI.
Nga ana tjetër, investimet portofol nuk përfshin marrjen e kontrollit në një kompani

5. Hyrje Pyetje: Çfarë janë investimet e huaja direkte?
Investimet direkte te huaja (FDI) ndodhin kur një firmë investon në mënyrë direkte në objekte të reja për të prodhuar dhe / ose depërton në nji treg në një vend të huaj.
Pasi një firmë ndërmerr aktivitet të IDH bëhet një ndërmarrje shumëkombëshe.
Ka dy forma të IDH-ve:
1. Investimi Greenfield - krijimi i një veprimtarie tërësisht të re në një vend të huaj. 2. Blerja ose bashkimi me një firmë ekzistuese në vend të huaj.
If you’ve traveled to London or Beijing, you may have seen some familiar companies like Starbucks or McDonald’s as you walked through the streets. These companies have investments in many countries around the world. In fact, as you’ll recall from the Opening Case, Wal-Mart recently continued its international expansion by acquiring a stake in Japan’s Seiyu. Even if you haven’t traveled to other countries you can see examples of foreign direct investment in your own country. For example, Nissan and Toyota have both made investments in the U.S., and Ford has factories in Mexico.
Foreign direct investment, or FDI, occurs when a firm invests directly in new facilities to produce and/or market in a foreign country. Once a firm undertakes FDI it becomes a multinational enterprise or MNE.
There are two main forms of FDI. A greenfield investment involves establishing a wholly owned new operation in a foreign country. This is what Starbucks has done for most of its foreign expansion. The second type of FDI is an acquisition or merger with an existing firm in the foreign country. Wal-Mart chose this path with its acquisition of Seiyu.

6. IDH në ekonominë botërore
Ka dy mënyra për të parë IDH
Fluksi i IDH-ve - sasia e IDH-ve të ndërmarra gjatë një periudhe të caktuar kohore
Stoku i IDH-ve - vlera totale e akumuluar me pronësi të aseteve të huaja në një kohë të caktuar
Daljet e IDH-ve janë flukset e IDH-ve nga një vend (FDI Outflows)
Hyrjet e IDH-ve janë flukset e IDH-ve në një vend (FDI Inflows)
You probably already know that companies are expanding in foreign countries more than ever. But, let’s look at the patterns of FDI in the world economy a little more closely. Before we do that though, we need to go over a few definitions.
The flow of FDI refers to the amount of FDI undertaken over a given period of time.
The stock of FDI refers to the total accumulated value of foreign-owned assets at a given time.
Outflows of FDI are the flows of FDI out of a country, while inflows of FDI are the flows of FDI into a country.

7. Trendet në IDH
Fluksi dhe stoku i IDH-ve në ekonominë botërore është rritur gjatë 20 viteve të fundit.
IDH është rritur më shpejt se tregtia dhe prodhimi botëror, sepse:
Firmat kanë ende frikë nga kërcënimi i proteksionizmit
Ndryshimet e përgjithshme në drejtim të institucioneve politike ,demokratike dhe ekonomitë e tregut të lirë kanë nxitur investimet e huaja.
Globalizimi i ekonomisë botërore i nxit firmat të ndërmarrin IDH që të sigurojnë një prani në shumë rajone të botës.
What trends in FDI can we see over the last twenty years or so? Well, there has been a marked increase in both the flow and stock of FDI in the world economy. In 1975, the outflow of FDI was about $25 billion, by 2000, it was $1.2 trillion. It dropped back a bit in 2005 to $897 billion, but as you can see, there is a clear upward pattern.
Why has there been such a significant increase in FDI outflows? There are several reasons for this pattern. Firms are worried about protectionist measures, and see FDI as a way of getting around trade barriers. Second, changes in the economic and political policies of many countries have opened new markets to investment. Think, for example of the changes in Eastern Europe that have made it possible for foreign firms to expand there. Third, many firms see the world as their market now, and so are expanding wherever they feel it makes sense. Wal-Mart for example, sees growth opportunities in foreign markets that may not be available in the U.S. Many manufacturers are expanding into foreign countries to take advantage of lower cost labor, or to be closer to customers, and so on.

8. Arsyet për Rritje të IDH
Globalizimi
(si menyre per te zvogeluar
kostot e prodhimit)
Fuzionet dhe Blerrjet
ndërkombëtare
(Int. mergers&
Acquisitions)
One main driver behind global flows of foreign direct investment is increasing globalization.
Globalization of the world economy encourages firms to use FDI as a way to create low-cost production bases.
It also prompts multinationals from advanced and emerging economies alike to buy up businesses in other markets.
Another driver is international mergers and acquisitions.
Mergers and acquisitions have propelled long-term growth in FDI and will likely do so for the foreseeable future.

9. Daljet e IDH-ve (1982-2009 $ miliardë)
Trendet në IDH
Daljet e IDH-ve ( $ miliardë)
As you can see from Figure 7.1, there is a clear upward trend in the pattern of FDI from 1982 to 2009.

10. Cilët shtete janë pranues të investimeve direkte të huaja?
Kahjet e IDH
Ku shkojnë investimet?
Cilët shtete janë pranues të investimeve direkte të huaja?
Where is the investment going? Which countries are the recipients of the investment flows?
Historically, most FDI has been targeted toward developed countries, with the U.S. being a favorite target during the 1980s and 1990s. The U.S. is attractive because it’s large and wealthy, it’s politically stable, and it’s open to investment. The European Union countries share some of these same characteristics and have also been favorite targets for investment.
We’re also seeing an increase in investment in developing nations like the emerging economies of South, East, and Southeast Asia. China, for example, attracted $60 billion in FDI in 2004 and nearly $108 billion in 2208! You can learn more about China’s new role in the global economy in the Country Focus in your text. Latin American is also emerging as an important destination for FDI. The region attracted more than $144 billion in investments in 2008.

11. Kahjet e IDH
Shumica e IDH janë të drejtuara më tepër në vendet e zhvilluara të botës, Shtetet e Bashkuara kanë qenë një objektiv preferuar.
IDH-ve kanë qenë të larta gjatë viteve në Shtetet e Bashkuara, por edhe në Bashkimin Evropian.
Shihet një rritje të IDH-ve në Jug, Lindje, dhe në Azinë Juglindore në veçanti Kina.
Amerika Latine gjithashtu shfaqet si një rajon i rëndësishëm për investimet e huaja
Where is the investment going? Which countries are the recipients of the investment flows?
Historically, most FDI has been targeted toward developed countries, with the U.S. being a favorite target during the 1980s and 1990s. The U.S. is attractive because it’s large and wealthy, it’s politically stable, and it’s open to investment. The European Union countries share some of these same characteristics and have also been favorite targets for investment.
We’re also seeing an increase in investment in developing nations like the emerging economies of South, East, and Southeast Asia. China, for example, attracted $60 billion in FDI in 2004 and nearly $108 billion in 2208! You can learn more about China’s new role in the global economy in the Country Focus in your text. Latin American is also emerging as an important destination for FDI. The region attracted more than $144 billion in investments in 2008.

12. Flukset e IDH Botërore IDH- Hyrrjet Vendet në zhvillim
E zhvilluara (57%), në zhvillim (37%)
Unioni Evropian: 30% e IDH botërore
82,000 kompani multinacionale
Vendet në zhvillim
Kina: 6.4% e IDH botërore
Gjithë Afrika: 5.2% e IDH botërore
More than 82,000 multinational companies with over 810,000 affiliates drive global FDI flows.
Developed countries account for about 57% of all world FDI—the main recipients being the European Union, the United States, and Japan.
Developing and emerging markets account for about 37% of global FDI, with the largest portions going to China and India.
Outflows of FDI from emerging economies are also on the rise. me
810,000 filijale

13. FDI Inflows by Region ($ billion), 1995 -2008
Drejtimi i IDH
FDI Inflows by Region ($ billion),
As you can see, over the last decade or so, the flows of FDI have a distinct upward trend in both developed and developing countries.

14. Kahjet e IDH
Formimi Bruto i Kapitalit Fiks - shuma totale e kapitalit të investuar në fabrika, dyqane, ndërtesa zyra, dhe nëse
çdo gjë tjetër është e barabartë, sa më të mëdha te jene investimet kapitale në një ekonomi, aq me e favorshme është e ardhmja e saj
IDH mund të shihet si një burim i rëndësishëm i investimeve kapitale dhe një përcaktues i normës së rritjes në të ardhmen e një ekonomie
We can also look at FDI flows in terms of percentages of gross fixed capital formation, or the total amount of capital invested in factories, stores, office buildings, and so on.
All else being equal, the greater the capital investment in an economy, the more favorable its future prospects are likely to be. In other words, FDI can be an important source of capital investment which can be factor in the future growth rate of an economy.

15. Kahjet e IDH
Që nga Lufta e Dytë Botërore, SHBA ka qenë vendi më i madh për investimet e huaja
Vende të tjera të rëndësishme - Mbretëria e Bashkuar, Hollanda, Franca, Gjermania dhe Japonia.
këto vende gjithashtu mbizotërojnë në renditjen me kompani multinacionale më të mëdha në botë
Where has all the FDI been coming from? Since, World War II, the U.S. has been the largest source country for FDI. Other important source countries include the United Kingdom, the Netherlands, France, Germany, and Japan. Together, the six countries accounted for about 56 percent of all FDI outflows from 1998 to 2008!

18. Format e Investimeve Direkte të Huaja?!!
Format e IDH
Format e Investimeve Direkte të Huaja?!!
You may be wondering how most firms make their investments. Do they establish greenfield operations, or do they merge or acquire existing firms?
Most firms make their investments either through mergers with existing firms, or acquisitions. Firms prefer this route because mergers and acquisitions tend to be quicker to execute than greenfield investments, it’s usually easier to acquire assets than build them from the ground up, and because firms believe they can increase the efficiency of acquired assets by transferring capital, technology, or management skills.
Keep in mind that when a developing country is the target for FDI flows, mergers and acquisitions are much less common, probably because there are fewer firms to acquire or merge with in developing countries.

19. Format e IDH
Shumë prej investimeve ndërkufitare përfshin bashkimet (mergers) dhe blerjet (acquisitions) se sa greenfield investimet
Blerjet janë tërheqëse për shkak
Këto forma janë më të shpejta për të filluar me punë se sa investimet greenfield
Kjo është më e lehtë dhe më pak e rrezikshme për një firmë për të blerë pasuri të dëshiruar se sa të filloj prej ndërtimi nga fillimi.
Firmat besojnë se ata mund të rrisin efikasitetin e një njësie të blerë nga transferimi i kapitalit, teknologjisë, ose aftësive të e menaxhimit.
You may be wondering how most firms make their investments. Do they establish greenfield operations, or do they merge or acquire existing firms?
Most firms make their investments either through mergers with existing firms, or acquisitions. Firms prefer this route because mergers and acquisitions tend to be quicker to execute than greenfield investments, it’s usually easier to acquire assets than build them from the ground up, and because firms believe they can increase the efficiency of acquired assets by transferring capital, technology, or management skills.
Keep in mind that when a developing country is the target for FDI flows, mergers and acquisitions are much less common, probably because there are fewer firms to acquire or merge with in developing countries.

20. Teoritë e IDH
Pyetje: Pse firmat preferojnë IDH ndaj eksporti (prodhimin e mallrave në shtëpi dhe pastaj shitjen ne vende tjera) ose të licencimit (dhënien e një subjekti të huaj të drejtën për të prodhuar dhe shitur produktin e firmës në këmbim për një qira/përqindje mbi çdo njësi që subjekti i huaj shet)?
Përgjigje: Për t'iu përgjigjur kësaj pyetjeje, ne duhet të shikojmë në kufizimet e eksportit dhe licencimit, si dhe avantazhet e IDH-ve .
So, why do firms make investments in other countries? Why don’t firms just export or sign a licensing agreement with a foreign company if they want to sell their products in other markets? We’ve alluded to some of the reasons already, but let’s explore some of the theories that help us understand FDI. We’ll begin with looking more closely at some of the limitations of exporting and licensing.

21. Teoritë e IDH
1. Kufizimet e eksportit - një strategji eksporti mund të kufizohet nga kostot e transportit dhe barrierave tregtare,
kur kostot e transportit janë të larta, eksporti si strategji mund të jetë jo i preferuar/ favorshëm,
investimet direkte të huaja mund të jenë një përgjigje për pengesat aktuale apo të kërcënuara tregtare të tilla si tarifat e importit ose kuotat.
Remember that exporting involves producing goods at home and then shipping to the receiving country for sale. While this may seem to be an obvious way to expand into foreign markets, it’s not always possible. Imagine trying to export cement for example! Even smaller things like soft drinks can be expensive to ship over long distances. Even if products are easy to ship like computer software, firms may run into trade barriers that make this strategy less attractive.
Japanese auto producers for example, found that it was easier to set up shop in the U.S. than to deal with the protectionist threats made by the U.S. government in the 1980s and 1990s.

22. Teoritë e IDH
2. Kufizimet e Licensës- ka tre të meta të mëdha Sipas teorisë së internacionalizimit (e njohur edhe si papërsosmëritë e tregut)
kjo form mund të rezultojë në dhënien e një firme tjetër teknologjinë dhe know-how-in ,një konkurrenti potencial të huaj.
kjo nuk i jep firmës kontroll mbi prodhimin, marketingun, strategjinë në vendin e huaj që mund të kërkohet për të maksimizuar përfitimin e saj
kjo mund të jetë e vështirë nëse avantazhi konkurrues i firmës nuk është i modifikuar për licencimin
Now, let’s look at why licensing isn’t always a viable option for foreign expansion. Recall that licensing involves granting a foreign entity the right to produce and sell the firm’s product in return for a royalty fee on every unit the foreign entity sells, and while it may seem like a good way to get into a foreign market without the costs and risks of FDI, like exporting, licensing isn’t always attractive to companies.
Internalization theory suggests that licensing isn’t appropriate for three main reasons. First, licensing may result in a firm’s giving away valuable technological know-how to a potential foreign competitor. RCA found this out the hard way. RCA licensed its cutting edge color TV technology to Sony and Matsushita in the 1960s only to find that they copied the technology and used it to compete against RCA in the U.S. market. So, instead of expanding successfully into Japan, RCA became a minor player in its own market!
A second problem with licensing is that it doesn’t give a firm the tight control over manufacturing, marketing, and strategy that may be required to be successful in a foreign market. So, the firm doesn’t have the ability to set prices, or market aggressively, and so on. Instead, it’s at the mercy of the licensee.
Finally, if a firm’s competitive advantage is based on management, marketing, or manufacturing capabilities rather than its product, licensing is probably not attractive. Much of Toyota’s competitive advantage for example, lies in its superior process of designing, engineering, manufacturing, and selling cars. Toyota can’t just license that know-how out to another firm because the skills are embedded in its organizational culture! This efficiency is critical to Toyota’s success. In 2005, for example, the company was able to earn about $2,400 more per car than the Big Three American automakers.

23. Teoritë e IDH
3. Avantazhet e investimeve direkte të huaja - një firmë do të favorizoj investimet direkte te huaja nga ato eksportuese kur:
kostot e transportit janë të larta
barrierat tregtare janë të larta
Një firmë do të favorizoj investimet e huaja direkte mbi licencimin kur:
ajo dëshiron kontroll mbi teknologjinë dhe know-how-in e saj
ajo dëshiron të ketë kontroll mbi veprimet e saja dhe strategjitë e biznesit
aftësitë e firmës nuk janë të përshtatshme për licencim
So, again firms will prefer FDI to exporting or licensing when transportation or trade barriers make exports unattractive, and when it wants to maintain control over its technological know-how, over its operations and business strategy, or when its capabilities are simply not amenable to licensing.

24. Modeli i IDH-ve
Është e zakonshme për firmat në të njëjtën industri të kenë sjellje të ngjashme strategjike për të
ndërmarrë investime të huaja direkte rreth të njëjtës kohë
drejtojnë aktivitetet e tyre investuese drejt vendeve të caktuara në faza të caktuara të ciklit jetësor të produktit
One interesting pattern we see with FDI is that firms in the same industry often make investments at about the same time, and tend to direct their investments toward certain locations. Recall for example, when the three major Japanese auto companies all shifted production to the U.S.
Why do we see these types of patterns? There are two theories that can help us understand the pattern. Let’s look at each one.

25. Modeli i IDH-ve Sjellja strategjike
Knickerbocker ka hulumtuar marrëdhëniet midis IDH dhe rivalitet në industrite oligopolistike (industria e përbërë nga një numër i kufizuar i firmave të mëdha)
Knickerbocker - flukset e IDH-ve janë një reflektim i rivalitetit strategjik mes firmave në tregun global Kjo teori mund të zgjerohet për të përqafuar konceptin e konkurrencës (kur dy ose më shumë ndërmarrje hasin njëra-tjetren në tregje të ndryshme rajonale, kombëtare, ose industri)
One theory to explain these patterns is based on the idea that FDI flows reflect strategic rivalry between firms. Knickerbocker explored the relationship between FDI and rivalry in oligopolistic industries, or industries that are composed of a limited number of large firms. These industries are unique because what one company does can have an immediate effect on the other firms, forcing them to take similar actions. Take the airline industry for example. If one airline cuts prices on certain routes, you see other airlines quickly make similar changes. In an international context, recall that after Honda made its successful investment in the U.S., Toyota and Nissan both followed.
Knickerbocker’s theory can also be used to embrace the idea of multipoint competition which occurs when two or more companies encounter each other in different markets. Firms will try to match each others’ moves as a way of keeping each other in check. Kodak and Fuji play this game. If Kodak enters a market, so will Fuji. By doing so, Fuji can make sure that Kodak doesn’t gain a dominant position in the market that it could then use to gain advantage elsewhere.
What Knockerbocker didn’t explain though, was why the first firm in an oligopoly decided to invest rather than export.

26. The Pattern of FDI 2. Cikli jetësor i produktit
Vernon - firma ndërmerr faza të veçanta të IDH në ciklin e jetës së një produkti që ata kanë filluar.
firmat investojnë në vendet e tjera kur kërkesa lokale në ato vende rritet mjaft për të mbështetur /justifikuar prodhimin vendas.
Firmat më pas zhvendosin prodhimin në vendet me kosto më të ulët, kur standardizim i produktit dhe ngopjes së tregut japin rritje të konkurrencës së çmimeve dhe presionet nga kostot.
You might remember Vernon’s product life cycle that we discussed in Chapter 5 which suggested that firms will change their strategy as a product moves through its life cycle. One component of his theory was that firms would invest in other developed countries when local demand justified local production, and that later when the product was standardized and sold mainly on price, production would shift to a lesser developed location to take advantage of low cost labor.
Like Knickerbocker, Vernon explained why investment took place, but not why investment was preferable to exporting. Why, for example, should a firm produce in another country just because demand has grown? Why not continue to export, or perhaps license a local firm to produce the product?

27. International Product Life Cycle
A company begins by exporting its product and later undertakes foreign direct investment as a product moves through its life cycle
The international product life cycle theory is divided into three stages:
In stage 1, the new product stage, a good is produced entirely in the home market and virtually no export market exists.
In stage 2, the maturing product stage, a good is produced in the home market and in markets abroad that are large enough to warrant production facilities.
In stage 3, the standardized product stage, a company builds production capacity in relatively low-cost nations that will then serve global markets.
Source: Raymond Vernon and Louis T. Wells, Jr., The Economic Environment of International Business, 5th ed. (Upper Saddle River, N.J.: Prentice Hall, 1991), p. 85.

28. Pse, për shembull, duhet një firmë të prodhojë në një tjetër vend vetëm për shkak se kërkesa është rritur? Pse të mos vazhdojë të eksportojë, ose ndoshta të licencojë një firmë lokale për të prodhuar produktin?

29. Paradigma Eklektike
Paradigma Eklektike e Duning- përveç faktorëve të ndryshëm që u diskutuan më herët, faktorë të tjerë duhet të merren parasysh kur shpjegohet arsyetimi i racionales dhe drejtimin e investimeve të huaja direkte.
avantazhet specifike nga lokacioni - që dalin nga përdorimi i resurseve apo pasurive që janë të lidhura me një vend të caktuar dhe se firma e gjen të vlefshme për të kombinuar ato pasuri me asetet e saja unike.
John Dunning tried to fill in these gaps in our understanding with his eclectic theory. Dunning suggested that in addition to the various factors we’ve already discussed, there must be location specific factors and externalities that make FDI preferable.
Location specific advantages refer to the advantages that come from using resources or assets that are tied to a specific location or that a firm finds valuable to combine with its own unique assets. Externalities are knowledge spill-overs that occur when companies from the same industry locate in the same area.
So, firms that want to take advantage of low cost labor, have to go to where the low cost labor is located. Firms that want to take advantage of natural resources like oil have to go to where the oil is located. Firms that want to take advantage of the knowledge base in the design and manufacture of computers and semiconductors have to go to Silicon Valley.
So, Dunning’s theory is important because it explains how location specific factors affect FDI flows.

30. Teoria Eklektike
Një firmë ndërmerr IHD kur avantazhet nga lokacioni, pronësia, dhe ndërkombëtarizimi kombinohen për të bërë një lokacion tërheqës
The eclectic theory states that firms undertake foreign direct investment when the features of a location combine with ownership and internalization advantages to make a location appealing for investment.
A location advantage is the advantage of locating a particular economic activity in a specific location because of its natural or acquired characteristics.
An ownership advantage is a company advantage that arises from ownership of some special asset, such as a powerful brand, technical knowledge, or management ability.
And an internalization advantage is the advantage that arises from internalizing a business activity rather than leaving it to a relatively inefficient market.
Avantazhi nga Lokacioni
(lokacion optimal )
Avantazhi nga pronësia
(asete speciale)
Avantazhi nga Internalizimi
(eficienca)

31. Ideologjia politike e IDH
Ideologjia drejt IDH është ndryshuar nga një qëndrim radikal që është armiqësor ndaj të gjitha formave të IDH drejt principeve të ekonomive të tregut të lirë
Në mes të këtyre dy ekstremeve është një qasje që mund të quhet nacionalizëm pragmatik
Now that you’re familiar with some of the theories that explain FDI, as well as the patterns of FDI we see in the global economy today, let’s explore how a government’s attitude affects FDI.
You can think of ideology toward FDI as being on a continuum where at one end is the radical view that’s hostile to all FDI, and at the other end is the noninterventionist principle of free market economies. In between these two extremes is pragmatic nationalism.

32. Qendrimi Radikal
Qendrimi radikal– Kompanitë Multinacionale janë një instrument i dominimit imperialist dhe një mjet për të shfrytëzuar vendet mikpritëse në dobi ekskluzive të vendeve kapitaliste-imperialiste
Qendrimet radikale janë tërhequr për shkak të
Rënia e komunizmit në Evropën Lindore
Ecuria e dobët ekonomike e këtyre vendeve që kishin përqafuar këtë politikë
Performanca e fortë ekonomike e vendeve në zhvillim që kishin përqafuar kapitalizmin
Let’s start with the radical view, which as you might guess, traces its roots to Marxist political and economic theory. This perspective argues that the MNE is an instrument of imperialist domination and a means of exploiting host countries for the benefit of their capitalist-imperialist home countries. In other words, people taking this perspective believe that the MNE will fill all important jobs with home country citizens, and so control key technology leaving the host nation dependent on the capitalist country for investment, jobs, and technology.
This perspective was very influential in the world from about 1945 until the 1980s and the collapse of communism. Since, then the radical stance has been in retreat as people see that the countries that embraced capitalism rather than the radical ideology have been far more successful economically.

33. Ideja e tregut të lirë
Ideja e tregut të lirë– Prodhimi ndërkombëtare duhet të shpërndahet në mesin e vendeve në bazë të teorisë së përparësisë krahasuese
Kompanitë multinacionale rrisin efikasitetin e përgjithshëm të ekonomisë botërore, (psh Fordi ne Mexico….)
Shtetet e Bashkuara dhe Britania janë ndër vendet më të hapura për IDH, por edhe që rezervojnë të drejtën për intervenime
At the other end of the continuum remember, is the free market perspective which argues that international production should be distributed among countries according to the theory of comparative advantage. So, of course it traces its roots to Adam Smith and David Ricardo. This perspective suggests that countries specialize in the production of the goods they can produce most efficiently and trade for everything else. It then follows, that FDI will actually increase the overall efficiency of the global economy.
So, if Ford moves the assembly of some of its cars to Mexico to take advantage of cheaper labor costs, Ford is not only freeing up resources in the U.S. which could then be used in activities in which the U.S. has a comparative advantage, Ford’s also transferring technology, skills, and capital to Mexico. Both countries gain!
While no country has adopted the pure free market stance, this ideology has been embraced by many developed and developing nations like the U.S., Hong Kong, and Chile.

34. Nacionalizmi pragmatik
Nacionalizmi pragmatik- IDH ka edhe përfitime si hyrje të kapitalit, teknologjisë, aftësive dhe punës si dhe shpenzime, si transferimin e fitimeve në vendin e origjinës dhe një efekt negativ të bilancit të pagesave.
Sipas kësaj pikëpamje, FDI duhet të lejohet vetëm nëse përfitimet tejkalojnë kostot
vendet e Bashkimit Evropian përpiqen për të tërhequr flukse të dobishme të IDH-ve duke ofruar heqjen e taksave dhe dhënien e subvencioneve.
In the middle of the continuum is pragmatic nationalism which argues that FDI has both benefits and costs. Benefits include things like inflows of capital, technology, skills, and jobs, while costs include the repatriation of profits and negative balance of payments effects.
Pragmatic nationalism suggests that FDI should only be allowed if the benefits outweigh the costs.

35. Ideologjia e ndryshimit
Në vitet e fundit, ka pasur një ndryshim të fortë në drejtim të qëndrimit të tregut të lirë duke krijuar
një rritje në volumin e IDH-ve në mbarë botën
Një rritje në vëllimin e investimeve të huaja të drejtuara në vendet që kanë liberalizuar regjimet e tyre
We’ve seen a shift toward the free market stance in recent years, and you already know of course that along with that shift there’s been a surge in FDI.
Keep in mind though, that FDI is still viewed with hostility in some countries and in some situations. As the Management Focus in your text outlines, the U.S. recently rejected an effort by DP World to invest in U.S. ports.

36. Përfitimet dhe kostot e IDH-ve
Pyetje: Cilat janë përfitimet dhe kostot e IDH-ve?
Let’s explore some of the costs and benefits of FDI that could affect whether an investment is given approval. Keep in mind that we need to consider costs and benefits from the home country’s perspective and the hosts country’s point of view.

37. Përfitimet dhe kostot e IDH-ve
Pyetje: Cilat janë përfitimet dhe kostot e IDH-ve?
Përgjigje:
Përfitimet dhe kostot e IDH-ve duhet të hulumtohen nga perspektiva e të dy vendeve, mikpritës dhe atij vendor
Let’s explore some of the costs and benefits of FDI that could affect whether an investment is given approval. Keep in mind that we need to consider costs and benefits from the home country’s perspective and the hosts country’s point of view.

38. Benefitet për vendin mikpritës
Benefitet kryesore të fluksit të IDH për vendin mikpritës janë
Efekti i transferimit të resurseve
Efekti i punësimit
Efekti i bilancit të pagesave
Efekti i konkurrencës dhe rritjes ekonomike
The main benefits for a host country of inward FDI are resource transfer effects, employment effects, balance of payments effects, and effects on competition and economic growth. Let’s look at each one.

39. Benefitet për vendin mikpritës
Efekti i transferimit të resurseve
IDH sjellin kapital, teknologji, dhe resurse menaxhuese që përndryshe nuk do të ishte e mundur.
2. Efekti i punësimit
IDH mund të sjellin vende pune që përndryshe nuk do të ishin krijuar
( Nissan ne Middle Tennessee/ shtepi, shitore, shkolla, etj..)
We’ve actually already talked a bit about the first benefit—resource transfer effects. Remember that FDI can benefit a country by bringing in capital, technology, and management skills helping the country to increase its economic growth.
Similarly, FDI can mean jobs! Many people in Middle Tennessee for example are employed at Nissan facilities there, and because the Nissan workers need houses to live in, grocery stores, and schools. A host of other related jobs have been created as well. Keep in mind of course, that some of these jobs will be canceled out by the loss of jobs in Detroit that will occur when U.S. consumers buy Nissans instead of Fords!

40. Benefitet për vendin mikpritës
3. Efekti i bilancit të pagesave
Llogaria e bilancit të pagesave të një vendi është një regjistrim i pagesave që i kryen vendi dhe faturat nga vendet e tjera
Llogaria rrjedhëse është një regjistrim i eksportit dhe importit të vendit të mallrave dhe shërbimeve
një suficit në llogarinë rrjedhëse zakonisht preferohet nga deficiti
IDH mund të ndihmojë të arrihet një suficit në llogarinë rrjedhëse.
Nëse IDH është një zëvendësim për importin e mallrave dhe shërbimeve
nëse kompania multinacionale përdor një filial të huaj për të eksportuar mallra dhe shërbime në vende të tjera.
FDI also has an effect on a country’s balance of payments. You’ve probably heard of the balance of payments, it’s a record of a country’s payments to and receipts from, other countries. The current account keeps track of a country’s export and import of goods and services. This is the account you often hear about in the news when you hear of the country’s trade deficit with China for example.
Governments prefer to run a current account surplus, or export more than they import, otherwise, the country is paying out more for the exports than it’s bringing in on its imports. Does this situation sound familiar? The U.S. has had a current account deficit for years, and is financing it by selling off U.S. assets to foreigners.
FDI can have a positive effect on a country’s balance of payments because it limits imports. So, instead of buying that Nissan directly from Japan, we’re now making it in Tennessee!

41. Benefitet për vendin mikpritës
4. Efekti i konkurrencës dhe rritjes ekonomike
IDH në form të investimeve greenfield
rrit nivelin e konkurrencës në një treg
I ulë çmimet
përmirëson mirëqenien e konsumatorëve
Rritja e konkurrencës mund të çojë në
Rritjen e prodhimtarisë
Inovacione në produkte dhe procese
rritja më të madhe ekonomike
How does FDI affect competition and economic growth? If FDI is in the form of greenfield investment, competition will increase in a market. This should drive down prices and benefit consumers.
More competition also promotes increased productivity, innovation, and then, economic growth. We’ve seen huge improvements in world telecommunications for example, since the 1997 WTO agreement to liberalize the industry.

42. Kostot e vendit mikpritës
Ka tre kosto kryesore të IDH-ve të brendshme
Efektet e mundshme negative të IDH-ve në konkurrencë brenda vendit nikoqir
Efektet negative në bilancin e pagesave
Humbja e perceptuar e sovranitetit kombëtar dhe të autonomisë
But, what about the costs of FDI?
There are three main costs of inward FDI. First, the negative effects on competition within the host country. Second, the negative effects on the balance of payments. And third, the loss of national sovereignty and autonomy that may occur.

43. Kostot e vendit mikpritës
1. Efektet nga konkurenca
Filijalet e kompanisë multinacionale mund të kenë fuqi më të madhe ekonomike se sa konkurrentët e vendit, sepse ata mund të jenë pjesë e një organizate të madhe ndërkombëtare
mund të tërheqin fonde të krijuara tjetërkund për të subvencionuar kostot në tregun vendor
duke vepruar kështu mund të largojnë konkurrentët vendor nga tregu dhe krijimin e një pozite monopoli.
Host governments, particularly those of developing countries, worry that the subsidies of foreign MNE’s might end up having greater economic power than indigenous competitors. So, for example, if an MNE supports its subsidiary while it becomes established in the host market, it might be stronger than an indigenous company, and could drive the local company out of business.

44. Kostot e vendit mikpritës
2. Efektet negative në bilancin e pagesave
Ka dy efekte të mundshme negative nga IDH në bilancin e pagesave
Me hyrjen e kapitalit që vjen me IDH, si rjedhojë pritet edhe dalja e mëvonshme e kapitalit, si degë e huaj kur transferon fitimet në vendin e tyre
Kur një filijalë i huaj importon inpute të saja nga jashtë, ka një debi në llogarinë rrjedhëse të bilancit të pagesave të vendit pritës.
-Prodhuesit e veturave Japoneze, për shembull,, shumë nga komponentët që ata përdorin në veprimet e e tyre amerikane I importojnë nga Japonia
When it comes to the balance of payments, host countries worry that along with the capital inflows that come will the FDI, will be the capital outflows that occur when the subsidiary repatriates profits to the parent company. Some countries actually limit the amount of profits that can be repatriated to limit the negative effects of this.
Host countries are also concerned that some subsidiaries import a substantial number of their inputs. Of course, these imports will show up in the current account of the balance of payments. Japanese automakers, for example, import from Japan, many of the components they use in their American operations. The companies have responded to criticism about this by pledging to buy more inputs locally.

45. Kostot e vendit mikpritës
3. Sovraniteti kombëtar dhe Autonomia
IDH mund të thotë një humbje e pavarësisë ekonomike
vendimet kyçe që mund të ndikojnë në ekonominë e vendit pritës do të bëhet nga një qendër (headquarter) e huaj që nuk ka asnjë angazhim të vërtetë për vendin pritës, dhe qeveria e vendit pritës nuk ka kontroll të vërtetë
Sometimes host governments worry that they may lose some economic independence as a result of FDI. They worry that since foreign companies have no particular commitment to the host country, they won’t really worry about the consequences of their decisions on the host country. However, Robert Reich, a former member of the Clinton cabinet, notes that this is really outdated thinking. In today’s interdependent economy, no company maintains strong loyalty to any country.

46. Benefitet për vendin origjinës
Përfitimet e IDH-ve në vendin e origjinës përfshijnë
Efekti në llogarinë kapitale të bilancit së pagesave në vendin e origjinës nga të ardhurat e huaja
Efektet e punësimit që lindin nga IDH e jashtme
Përfitimet nga të mësuarit e aftësive të vlefshme nga tregjet e huaja që mund të transferohen më pas në vendin e origjinës
What about the home country? Are there any benefits from outward FDI? Yes, FDI can help the home country in several ways. It has a positive effect on the capital account because of the inward flow of foreign earnings, there are positive employment effects that come from the foreign subsidiary imports. Remember that Nissan imports a lot of inputs from Japan creating jobs there. There is also the potential to learn valuable skills in the host nation that can then be transferred back to the home country.

47. Kostot për vendin origjinës
Shqetësimet kryesore për vendin e origjinës fokusohen reth
Bilanci i pagesave
Bilanci i pagesave vuan nga daljet e kapitalit fillestar për financimin e IDH-ve
Llogaria rrjedhëse ndikohet negativisht në qoftë se qëllimi i IDH-ve është që të shërbejë tregun vendor nga një vend me kosto të ulët të prodhimit
Llogaria rrjedhëse vuan nëse IDH është një zëvendësim për eksportet e drejtpërdrejta
What about the costs to the home country that come from outward FDI? As you’ve probably guessed, there are costs associated with balance of payments effects and also with employment.
The balance of payments is negatively affected by the initial capital outflow required to finance the FDI, if the purpose of the investment is to serve the home country from a low cost production location, and if the FDI is a substitute for direct exports.

48. Kostot për vendin origjinës
2. Efektet e punësimit nga IDH të jashtme
Nëse vendi vuan nga papunësia, mund të jetë shqetësuese në lidhje me eksportin e vendeve të punës
Concerns about FDI’s effect on the balance of payments are linked with the concerns about exports. If FDI effectively replaces home country production, there will be a negative effect on employment.

49. Politikat e qeverive dhe IDH
IDH mund të regullohen nga të dyja vendet
Qeverit mund të implementojnë politika për
Inkurajimin e IDH
Dekurajimin e IDH
So, given that there can be both positives and negatives associated with FDI, how can governments regulate it?
Well, there are various ways that home countries can encourage or discourage FDI by local firms. We’ll begin with policies to encourage FDI.

50. Politikat vendore Inkurajimi i IDH
Shumë vende kanë mbështetur programe të sigurimit për të mbuluar rrezikun gjatë investimeve të huaja
mund të inkurajojnë firmat për të ndërmarrë IDH në vendet politikisht jostabile
Shumë vende kanë eliminuar edhe tatimin e dyfishtë të të ardhurave të huaja
Shumë vende pritëse kanë zbutur kufizimet mbi IDH-ve
A key reason that firms may resist FDI is because of the risk involved. To minimize this concern, many countries have government-backed programs that cover the major forms of risk like the risk of expropriation, war losses, or the inability to repatriate profits. Some countries have also developed special loan programs for companies investing in developing countries, created tax incentives, and encouraged host nations to relax their restrictions on inward FDI.

51. Politikat vendore 2. Kufizimi i IDH
Pothuajse të gjitha vendet e investitorëve, duke përfshirë Shtetet e Bashkuara, kanë ushtruar një kontroll mbi IDH nga koha në kohë
Vendet manipulojnë me rregullat e tatimeve për ta bërë atë më të favorshme për firmat për të investuar në shtëpi
Vendet mund të kufizojnë firmat të investojnë në vende të caktuara për arsye politike
To discourage outward FDI, countries regulate the amount of capital that can be taken out of a country, use tax incentives to keep investments at home, and actually forbid investments in certain countries like the U.S. has done for companies trying to invest in Cuba and Iran.

52. Politikat e vendit mikpritës
1. Inkurajimi i fluksit të investimeve
Qeveritë ofrojnë stimulime të firmave të huaja për të investuar në vendet e tyre
motivuar nga një dëshirë për të fituar nga efektet e transferimit të burimeve dhe efektet nga punësimi nga IDH-ve, si dhe për ti i fituar investitorët para se të investojnë në vende tjera.
Host countries can also restrict or encourage FDI. Recall that we’ve moved away from the radical stance that discouraged FDI in general and towards a more free market approach, and pragmatic nationalism.
To encourage inward FDI, host countries usually offer incentives for investment like tax breaks, low interest loans, or subsidies. Why would countries offer these benefits to foreign firms? Because they want to gain the benefits of FDI that we talked about earlier! Kentucky for example, offered a $112 million package to Toyota to get it to build its U.S. plants in the state!

53. Politikat e vendit mikpritës
2. Kufizimi i IDH (Inward)
Kufizimet e pronësisë dhe kërkesat e performancës përdoren për të kufizuar IDH
kufizime në pronësia -përjashtojnë firmat e huaja nga sektorë të caktuar në bazë të sigurisë kombëtare ose konkurrencës
Pronarët lokal mund të ndihmojnë për maksimizimin e transferimit të resurseve dhe benefiteve nga IDH
When a country wants to restrict FDI, it will usually implement ownership restraints or performance requirements. In Sweden for example, foreign companies aren’t allowed to invest in the tobacco industry.
Ownership restraints accomplish two things. First, they keep foreign firms out of certain industries on the grounds of national security or competition, allowing the local firms to develop. Second, they help maximize the resource transfer effect and employment benefits that are associated with FDI. In Japan for example, until the early 1980s, most FDI was prohibited unless the foreign firm had valuable technology. Then, the foreign firm was allowed to form a joint venture with a Japanese company because the government believed this would speed up the diffusion of the technology throughout the Japanese economy.

54. Institucionet ndërkombëtare dhe IDH
Deri kohët e fundit nuk ka pasur asnjë përfshirje në përputhje nga institucionet ndërkombëtare në qeverisjen e IDH-ve
Formimi i Organizatës Botërore të Tregtisë në vitin 1995 po ndryshon këtë
OBT ka pasur disa suksese në krijimin e një sërë rregullash universale për të promovuar liberalizimin e IDH-ve
You may be wondering if countries can more or less do as they wish when it comes to FDI, or whether there’s any sort of international agreement on FDI.
Until recently, there hasn’t been any consistent involvement by multinational institutions on how FDI should be handled, but in 1995, the WTO got involved through its agreement on services. Remember, that in order to sell services internationally, FDI is often required. So, as you might expect, the WTO is pushing for the liberalization of regulations governing FDI.
Already, agreements on the liberalization of telecommunications and financial services have been reached.

55. Implikime për Menaxherët
Pyetje: Çfarë do të thotë FDI për bizneset ndërkombëtare?
Përgjigje:
Teoria e IDH-ve ka implikime strategjike për sjelljen e firmave
Politika e qeverisë për IDH mund të jetë gjithashtu e rëndësishëm për bizneset ndërkombëtare
So, what does all of this mean for international businesses? There are several implications for companies.

56. Teoria e IDH-ve
Avantazhet specifike të lokacionit së bashku me Paradigmen e Duning ndihmon në sqarimin e kahjeve të IDH
Megjithatë, teoria e internalizimin është e nevojshme për të shpjeguar se pse firmat preferojnë FDI nga licencimi ose eksportimi
eksporti preferohet ndaj licencimit dhe IDH-ve për sa kohë që shpenzimet e transportit dhe barrierat tregtare janë të ulëta
We know, of course from Dunning’s theory that FDI may make sense for location reasons, but the theories can also help firms identify the trade-offs between exporting, licensing, and foreign direct investment. For example, we know that exporting will be preferable to licensing as long as transportation costs and trade barriers are low.

57. Teoria e IDH Licenca nuk është atraktive
kur pronësia e pronarit të firmës nuk mund të mbrohen siç duhet nga një marrëveshje licencimi
Firma ka nevojë për kontroll të plotë mbi një entitet të huaj në mënyrë që të maksimizoj pjesën e tregut dhe të ardhurat në atë vend
aftësitë e firmës nuk janë të përshtatshme për licencim
We also know that licensing isn’t attractive when the firm has know-how that can’t be properly protected by a licensing agreement, when the firm needs control over a foreign entity in order to maximize profits, and when the firm’s skills and capabilities aren’t amenable to licensing.
In fact, licensing is going to be most likely in fragmented, low-tech industries where globally dispersed manufacturing isn’t an alternative. So, for companies like McDonald’s, which use the service-industry version of licensing, franchising, licensing or franchising makes sense. McDonald’s is current in the midst of a major expansion in in China, Japan, and Russia.

59. PËRMBLEDHJE

60. Papërfekshmëria e Tregut (Internalizimi)
Një kompani ndërmerr FDI për të përvetësuar një transaksion që është bërë i paefektshëm për shkak të një papërsosmërisë të tregut
Barierat tregtare
(psh., tarifat)
Përparësi unike (psh., njohuri të vecantë, ekspertizw teknike, aftwsi speciale tw punëtorëve, etj.)
The market imperfections (or internalization) theory states that when an imperfection in the market makes a transaction less efficient than it could be, a company will undertake FDI to internalize the transaction and thereby eliminate the imperfection.
One type of market imperfection is a trade barrier, such as a tariff.
Another type of imperfection is a company’s unique competitive advantage, such as specialized knowledge, technical expertise, or special abilities embodied in employees.

61. Çështje menaxheriale I
Kontrolli
Blej ose ndërto
Many companies invest abroad to increase their control over factors such as selling price in a local market. But a host nation may demand shared ownership in an operation.
Benefits to companies of shared ownership can include better communication with local government officials.
Benefits to the host country are worker and industry protection, and more control over worker training and technology transfers.
The purchase-or-build decision entails deciding whether to purchase an existing business or to build a subsidiary from the ground up—called a greenfield investment.
Benefits of purchasing a firm include the existing company’s goodwill in the marketplace, brand recognition, and potential sources of financing.
Drawbacks of purchasing existing facilities can include obsolete equipment, poor labor relations, and an unsuitable location.
A greenfield investment lets a company start operating with a clean slate, but drawbacks include obtaining permits, arranging financing, and hiring local personnel.

62. Çështje menaxheriale II
Production costs that add to local labor costs include worker benefits, training programs, and burdensome regulations.
Rationalized production, whereby each component is produced where its production cost is lowest, can be problematic if a work stoppage in one country can halt the entire production process.
Mexico’s Maquiladora zone along the U.S.-Mexico border has become a model for other regions split by wage or technology gaps. Yet, union jobs in the United States are sometimes lost to nonunion jobs in maquiladora firms that operate under less stringent regulations.
Lower research and development costs can encourage cross-border alliances and acquisitions, but such costs can be secondary to supply factors such as access to top scientists and technical experts.
Knowledge of customer and buyer behavior can be a key issue in the decision of whether to undertake FDI.
A local presence can give companies valuable knowledge of customers that is unobtainable in the home market.
Kosto Prodhimi
Njohuritë ndaj
Konsumatorit

63. Çështje menaxheriale III
Ndjekja e klienteve
The practice of following clients into markets abroad typically occurs when suppliers of component parts have close working relationships with their customers. An FDI puts the supplier nearer to their customers where they can better understand and anticipate their needs.
The practice of following rivals resembles a “follow the leader” scenario and is common in industries with a limited number of large firms. The force behind FDI is a belief that not matching rivals’ moves means the loss of a “first mover” advantage or being shut out of a lucrative market altogether.
Ndjekja e rivaleve

64. Metoda promocioni të vendit mikpritës
Stimulime financiare
Taksa të ulëta ose heqja e tyre
Kredi me interes te ulet
Benefite infrastrukturore
Portet, rrugët, dhe rrjetet e telekomunikacionit më të mira
One method host countries can use to promote FDI inflows are financial incentives.
Tax incentives and/or low-interest loans to attract investment are common incentives.
But if bidding wars arise between locations competing for the investment, the cost of the FDI for taxpayers may be more than what the actual jobs will pay.
Other methods to promote FDI inflows include infrastructure improvements.
Lasting benefits for communities in the host nation can arise from local infrastructure improvements—including better seaports for containerized shipping, improved roads, and advanced telecommunications systems.

65. Metodat restriktive të vendit mikpritës
Kufizime në Pronësi
Ndalojnë investimet në
industritë ose bizneset ( psh me pak se 50% te pronesise)
Kerkesa Performance
Kerkesa per permbatje lokale
përcaktojnë që një pjesë e prodhimit duhet të eksportohet
kërkojnë që teknologjitë e caktuara të transferohet në bizneset lokale
One method host countries can use to restrict FDI inflows are ownership restrictions.
Governments can prohibit foreign companies from investing in certain industries or owning certain types of businesses.
They may also require foreign investors to hold less than a 50% stake in a local firm.
Other methods to restrict FDI inflows include performance demands.
Such demands can dictate the portion of a product’s content that originates locally, stipulate that a portion of output must be exported, or demand that certain technologies be transferred to local businesses.

66. Metoda promocioni të vendit amë
Sigurimi i pasurive jashtë vendit
Huatë dhe garanci të kredive
Traktate të veçanta tatimore
Pushime tatimi mbi fitimet e fituara jashtë vendit
To promote FDI outflows, home nations can:
Offer insurance to cover the risks of investing assets abroad.
Grant loans to firms wishing to increase their investments abroad.
Offer tax breaks on profits earned abroad or negotiate special tax treaties.
And apply political pressure to get other nations to relax their restrictions on FDI inflows.
Bindë vendet e tjera për të pranuar investimet e huaja direkte

67. Metodat restriktive të vendit amë
Taksa më të larta mbi të ardhurat e jashtme
To restrict FDI outflows, home countries can:
Impose a higher tax rate on income earned abroad than that levied on domestic earnings.
And impose sanctions that prohibit domestic firms from making investments in certain nations.
Sanksione që ndalojnë investimin