first is the standard, direct productivity effect that is associated with the change in future output. The second is the …

markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on … even for risk neutral multinationals, as their profit function is non-linear due to price and productivity effects. For … industries with costly capacity, the multinationals would tend to invest in the more stable emerging markets. Higher volatility …

productivity gains for domestic firms. The size of FDI spillovers is economically important, accounting for about 14% of … productivity growth in U.S. firms between 1987 and 1996. In addition, there is some evidence for imports-related spillovers, but it …

We quantify the effect of foreign investment on productivity of acquired firms using a new firm-level database that … score matching; and to control for selection on unobserved fundamentals, we include country- sector trends. The productivity …

model in which technical advances are embodied in new capital, investment will translate directly into productivity gains … growth than the sum of the contributions of parent and affiliate employment, and materials; (2) productivity has boomed since … 1992, due to productivity growth in MNCs with Canadian affiliates; (3) the investment elasticity of productivity growth is …

increase in firm-level volatility, and a decline in aggregate volatility. The effect on productivity growth is ambiguous. On … productivity growth at the aggregate and firm level during the post-war period. Growth is driven by the development of both (i …) idiosyncratic R&D innovations and (ii) general innovations that can be freely adopted by many firms. Firm-level volatility is …

volatility of economic fluctuations. In a sample of 92 countries as well as a sample of OECD countries, we find that countries … with higher volatility have lower growth. The addition of standard control variables strengthens the negative relationship …. We also find that government spending-induced volatility is negatively associated with growth even after controlling for …

The empirical literature finds mixed evidence on the existence of positive productivity externalities in the host … relative productivity of the foreign firm leads to higher additional growth in financially developed economies compared to …

This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate … of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for …