even for risk neutral multinationals, as their profit function is non-linear due to price and productivity effects. For … of productivity shocks in an emerging market producing the intermediate inputs reduces the multinationals' expected … in each country to productivity shocks, channeling the average employment from the more to the less volatile location …

even for risk neutral multinationals, as their profit function is non-linear due to price and productivity effects. For … of productivity shocks in an emerging market producing the intermediate inputs reduces the multinationals' expected … in each country to productivity shocks, channeling the average employment from the more to the less volatile location …

- developmentstrategy involves an investment in a modern technology. This technology raises thedegree to which real wages and productivity … productivity gains, the investment cost associated with the moderntechnology, and the attitude towards risk. It starts with a …