This paper presents evidence of trade and FDI as conduits for R&D spillovers among industrialized countries. We find that total factor productivity of a country is enhanced significantly by R&D activities of other countries through the channel of capital goods trade; about one third of the benefits...

Since the development of the eclectic paradigm by Dunning (1977; 1988; 1993), many studies have investigated different forms of location advantages that attract foreign direct investment (FDI). In this study, we consider accounting standards as a component of the institutional infrastructure of a...

This paper investigates U.S. multinational enterprises (MNEs) as a channel of international technology diffusion in 40 countries over 1966-1994. Data on technology transfer are used to distinguish between the technology diffusion effect and other productivity-enhancing effects of MNEs. The study...