We examine the effect of outward foreign direct investment (OFDI) on total factor productivity (TFP) of home (source of FDI) countries in a global sample of 85 economies, distinguishing between outward greenfield FDI (OGFDI) and outward cross-border merger and acquisition (M&A) purchases. The...

When labour market competition is imperfect, positive industry (and firm) productivity shocks can be passed through to workers in the form of higher wages. We document how the UK auto industry, following a period of decline, experienced a four-decade-long productivity boom. There was a...