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model in which technical advances are embodied in new capital, investment will translate directly into productivity gains … out: (1) growth in parent and affiliate capital are the most important sources of growth, with FDI contributing more to … growth than the sum of the contributions of parent and affiliate employment, and materials; (2) productivity has boomed since …
Persistent link: https://www.econbiz.de/10012472274
We quantify foreign direct investment (FDI) spillovers by comparing changes in total factor productivity (TFP) among … domestic plants in districts that attracted a large greenfield foreign plant and districts where greenfield FDI was licensed … but not yet operational. Treated and untreated districts have similar trends in TFP prior to the opening of the large …
Persistent link: https://www.econbiz.de/10012453253
measuring total factor productivity (TFP) of firms and to different empirical specifications … in a region or sector, it is their productivity advantage that determines the positive effect on domestic firms in …
Persistent link: https://www.econbiz.de/10012467794
productivity conditions). Empirical literature on the determinants of FDI flows which uses the Tobit procedure aims at a correction …The paper develops a model with lumpy setup costs of new investment, which govern the flows of FDI. Foreign investment … decisions are two-fold: whether to export FDI and, if so, how much. The first decision is governed by total profitability …
Persistent link: https://www.econbiz.de/10012467825
productivity gains for domestic firms. The size of FDI spillovers is economically important, accounting for about 14% of … (FDI) between the years of 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to significant … productivity growth in U.S. firms between 1987 and 1996. In addition, there is some evidence for imports-related spillovers, but it …
Persistent link: https://www.econbiz.de/10012469199
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 …
Persistent link: https://www.econbiz.de/10012459741
We examine the properties of the ASA-NBER forecasts for several US macroeconomic variables, specifically: (i) are the actual and forecast series integrated of the same order; (ii) are they cointegrated, and; (iii) is the cointegrating vector consistent with long run unitary elasticity of...
Persistent link: https://www.econbiz.de/10012471881
We investigate the behavior of the long-run U.S./U.K. real exchange rate from 1885 to 1995. Our long-run real exchange rate series is derived from an unobserved components model which divides the real exchange rate into permanent and transitory components. The transitory component is modeled as...
Persistent link: https://www.econbiz.de/10012473057
In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the "spread" S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to induce...
Persistent link: https://www.econbiz.de/10012477190
This paper extends previous research on the effect of investment on labor productivity at the country level by … to have a significant positive effect on productivity. Moreover, this effect appears to be quite large. The estimated …
Persistent link: https://www.econbiz.de/10012474807