Kiel Working Papers, Kiel Institute for World Economics
No 1249:
Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence from the United States
Wolfgang Keller and Stephen R. Yeaple
Abstract: We estimate international technology spillovers to U.S.
manufacturing firms via imports and foreign direct investment (FDI) between
the years of 1987 and 1996. In contrast to earlier work, our results
suggest that FDI leads to substantial productivity gains for domestic
firms. The size of FDI spillovers is economically important, accounting for
about 11% of productivity growth in U.S. firms between 1987 and 1996. In
addition, there is some evidence for imports-related spillovers, but it is
weaker than for FDI. The paper also gives a detailed account of why our
study leads to results different from those found in previous work. This
analysis indicates that our results are likely to generalize to other
countries and periods.
53 pages, May 2005
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