The flying geese model revisited: Foreign direct investment, trade in machinery and the ‘boomerang effect’

Miyohei Shinohara

Journal of the Asia Pacific Economy, 1996, vol. 1, issue 3, 411-419

Abstract: The ‘flying geese’ model of regional development is conceived in terms of trade and investment links between the leading and following countries. The paper revisits the model in the light of reverse flow of trade, especially of machinery, to the leading country. This process, which may lead to ‘industrial hollowing’ in the home country, is referred to as the ‘boomerang effect’. The paper casts doubts on Krugman's thesis and concludes that the growth in the Asian economies will act as a prime mover of growth for the US and Japan.

Date: 1996
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DOI: 10.1080/13547869608724599

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