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Prioritizing Foreign Investment In APEC

APEC Study Centre, Griffith Asia Institute, Griffith University, Gold Coast campus, Nathan, Qld 4222, Australia

Corresponding author.

Anthony J Makin is Professor of Economics and Director of the APEC Study Centre at Griffith University, and member of the National Economic Panel of the Economic Society of Australia. His field of expertise is international macroeconomic theory and policy and has previously served with the IMF Institute, as a senior economist in the Australian departments of Finance, Foreign Affairs and Trade and Treasury and as an Australian convenor for the Pacific Economic Co-operation Council (PECC). He has published widely on a range of Asia-Pacific business and economic policy issues.

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and

Andreas Chai

APEC Study Centre, Griffith Asia Institute, Griffith University, Gold Coast campus, Nathan, Qld 4222, Australia

Andreas Chai is Senior Lecturer in Economics, Director of the Economic Analysis and Policy Program in the Griffith Business School, and member of the Griffith Asia Institute. He holds an Arts degree and an Honours degree in Economics from The University of Queensland, and a PhD from Friedrich Schiller University, Germany and has previously served as an economist in the Australian Treasury and the Australian Productivity Commission. His research interests are APEC, consumer theory, evolutionary economics, economic development, climate change adaption and tourism.

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https://doi.org/10.1515/gej-2018-0025Cited by:4 (Source: Crossref)

Abstract

Expanded international trade in goods and services has driven economic development in the Asia-Pacific since the 1994 APEC Bogor declaration that called for free trade and investment in the region. Despite this goal, APEC has predominantly focussed on international trade rather than investment. To redress this bias, the paper first highlights the benefits from increased international investment before examining APEC foreign investment flows relative to trade flows in APEC economies. It then examines key trends before concluding that APEC should prioritize foreign investment to accelerate economic development and living standards in the region.

Keywords:

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Prioritizing Foreign Investment In APEC

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