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| A REVIEW AND COMMENTARY ON INTERNATIONAL CAPITAL FLOW |
| HUANG Chao-yong1, ZHUANG Lin-de2 |
1. Chongqing Municipal Planning Commission, Chongqing, 400015 China;
2. Department of Urban and Resources, Nanjing University, Nanjing, 210093 China |
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Abstract International capital flow study originated in classic economics, developed in international finance and international trade. After World War Two, politics, sociology, biology and geography got involved,but economics used to take the main stem in capital flow study. In 1990s it became a hot spot in geography as international investment increased fast. Comparing geography with economics, the author pointed that geographical in research in capital flow had three characteristics. Firstly, using spatial analysis method which is very profitable for geography to study the spatial flow process and distributive pattern for capital flow, geography not only widened research field,but also relatively enriched and consummate theory of international capital flow. Secondly, since capital flow study in geography lagged 16 years in China than that in foreign country,there was no integrated science system and methodology in geography. Thirdly, research in geography was confined to as foreign capital instead of domestic capital. In fact, geographers mainly focus on industrial investment instead of wide field in economics including money market, loan, etc. It also studied less theory and regular pattern but more cases. Therefore,the paper suggested geographer should pay more attention to four problems.(1) The negative impact of capital inflow to host coutries because it brought about host people worry their industrial security, spoiling ecological environment, technology control, convey price, and problems caused by large-scale movement of labor force flow, etc.(2) The scale of capital inflow should be harmonized the host industrial capability, natural resources capacity, environment acceptance and domestic fund supply.(3) Study of capital flow procedure. According to geography, capital flow in space should be divided into two patterns as spatial centralization and dispersion. And spatial pattern usually changed from the former to the later. Dispersion consists of increment capital(new incremental investment)shift and existent capital(customary foreign capital enterprise in host land)movement. It is very important for geographers to find out when the capital centralized and diffused.(4) Capital flow dynamic mechanism which will show us the interaction between capital flow and influencing factors and help us find the way to adjust and guide international capital flow so that its distribution get reasonable.
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Received: 28 August 2000
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2002, Vol. 17 
