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K.C. Fung University of California, Santa Cruz

Comments on Intra-Asian Flows: Trends, Patterns and Determinants by Rabin Hattari and Ramkishen S. Rajan. K.C. Fung University of California, Santa Cruz. Comments. This is an excellent paper; very organized and clearly written and very informative

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K.C. Fung University of California, Santa Cruz

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  1. Comments on Intra-Asian Flows: Trends, Patterns and Determinants by Rabin Hattari and Ramkishen S. Rajan K.C. Fung University of California, Santa Cruz

  2. Comments • This is an excellent paper; very organized and clearly written and very informative • The paper discusses in details the data, the trend, characteristics of intra-Asian FDI. • In addition, it provides a very interesting empirical study of the determinants of intra-Asian FDI outflows

  3. Comments • Among its merits, the paper provides a very clear and informative discussion of the definition and sources of FDI data • It highlights some very important characteristics of intra-Asian FDI • For example, Hong Kong is an exceptional provider of FDI

  4. Comments • Malaysia is South Asia’s preferred destination • It seems that the most significant Intra-Asian FDI is still East Asia-East Asia and East Asia-Southeast Asia • The paper also discusses various important motives of FDI outflows—including resource-seeking, market-seeking, efficiency-enhancing and may be seeking relief from exchange rate pressures

  5. Comments • I only have a few suggestions and questions • Why exclude Japan? • Stocks vs. flows in the regressions • A fair amount of FDI outflows are to Bermuda and Virgin Islands and other tax havens—problems with the data?

  6. Comments • Outliers (as pointed out in the paper)—Hong Kong, China, Singapore • Do these observations affect the empirical results? • For the empirical studies, should we think of outflows or inflows? • Why does the exchange rate change sign from equation 1 to equation 2?

  7. Comments • What about the corruption index? The literature seems to focus quite a bit on this • Real GDP growth or GDP endogenous? • What about labor costs or relative labor costs? • In conclusion, I recommend this paper highly

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