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We show that industrial ownership structures, such as keiretsu groupings in Japan, may significantly impact firms' incentives to engage in FDI. While the previous literature has mainly focused on the cost of capital advantages enjoyed by keiretsu firms, this paper examines two relatively...
Persistent link: https://www.econbiz.de/10012470685
Advances in communication technologies over the past half century have made the cultural goods of one country more readily available to consumers in another, raising concerns that cultural products from large economies - in particular the US - will displace the indigenous cultural products of...
Persistent link: https://www.econbiz.de/10012462688
"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...
Persistent link: https://www.econbiz.de/10010522397
and space and for predicting the effects of globalization shocks …
Persistent link: https://www.econbiz.de/10012479754
This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...
Persistent link: https://www.econbiz.de/10012479927
We review a recent body of theoretical literature that links the creation and diffusion of knowledge and technology to openness. We analyze two channels through which the spread of new ideas occurs: international trade and the activity of multinational firms (multinational production). The...
Persistent link: https://www.econbiz.de/10012480722
We construct a model of international trade and multinational production (MP) to examine the impact of globalization on …
Persistent link: https://www.econbiz.de/10012462198
The explosion of multinational activities in recent decades is rapidly transforming the global landscape of industrial production. But are the emerging clusters of multinational production the rule or the exception? What drives the offshore agglomeration of multinational firms in comparison to...
Persistent link: https://www.econbiz.de/10012463073
The representation of a large number of students born outside the United States among the ranks of doctorate recipients from U.S. universities is one of the most significant transformations in U.S. graduate education and the international market for highly-trained workers in science and...
Persistent link: https://www.econbiz.de/10012463855
This paper presents and tests a new model of multinational firms to explain a rich array of multinational behavior. In contrast to most approaches, here the multinational faces costs to transferring its know-how that are increasing in technological complexity. Costly technology transfer gives...
Persistent link: https://www.econbiz.de/10012464021