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markets. One of the distinguishing features of the R&D globalization phenomenon is its concentration within the software … three important phenomena: (1) the globalization of R&D, (2) the growing importance of software and IT to firm innovation … large quantities of STEM workers who possessed IT and software skills. Our findings support the view that the globalization …
Persistent link: https://www.econbiz.de/10012916620
The location of US multinational foreign R&D has shifted significantly to include emerging markets in addition to traditional Western R&D hubs, resulting in two challenges for multinationals: (1) how to transfer knowledge across geographic distances, and (2) how to facilitate learning when local...
Persistent link: https://www.econbiz.de/10012922984
We study the resource allocation decisions of U.S. multinational corporations (MNCs). We examine how established MNCs grow across countries and how firm-specific resources and host country financial-market development influence MNC growth. We find evidence of intra-firm trade-offs to growth in...
Persistent link: https://www.econbiz.de/10012787093
We simultaneously assess the contributions to productivity of three sources of research and development spillovers: geographic, technology and product-market proximity. To do this, we construct a new measure of geographic proximity that is based on the distribution of a firm's inventor locations...
Persistent link: https://www.econbiz.de/10013038696
Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this paper, I examine the determinants of multinational firms' location and production...
Persistent link: https://www.econbiz.de/10012992631
We investigate how multinational firms contribute to the transmission of shocks across countries using a large multi-country firm-level dataset that contains cross-border ownership information. We use these data to document two novel empirical patterns. First, foreign affiliate and headquarter...
Persistent link: https://www.econbiz.de/10012984125
U.S.-owned manufacturing affiliates in foreign countries tended to become more export-oriented between 1966 and 1977. The shift toward exporting characterized affiliates in most industries and most countries.The bulk of U.S.-owned production abroad continues to be for local sale in most...
Persistent link: https://www.econbiz.de/10013230213
We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond...
Persistent link: https://www.econbiz.de/10013217919
In recent decades, growth of overall world trade has been driven in large part by the rapid growth of trade in …
Persistent link: https://www.econbiz.de/10013218078
This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In particular, we show that countries that are further from major locations of international financial activity systematically experience more volatile growth rates in both output...
Persistent link: https://www.econbiz.de/10012758390