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Innovation, Foreign Direct Investment and Growth

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  • Walz, Uwe
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    Abstract

    Direct foreign investment is incorporated in a dynamic general equilibrium model with endogenous technological change. In contrast to recent endogenous growth approaches, the author allows for geographical separation of the innovation and production of newly developed goods. Firms acquire specific knowledge through R&D investment in the more developed country and use their specific asset to establish a production plant in the low-cost country. Foreign direct investment is accompanied by interregional spillovers of knowledge from the more to the less advanced country. The author derives a steady-state equilibrium with active innovation and production activities in the high-technology sector in both countries. Furthermore, the implications of factor flow liberalization as well as of industrial policies are investigated. Copyright 1997 by The London School of Economics and Political Science

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    Bibliographic Info

    Article provided by London School of Economics and Political Science in its journal Economica.

    Volume (Year): 64 (1997)
    Issue (Month): 253 (February)
    Pages: 63-79

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    Handle: RePEc:bla:econom:v:64:y:1997:i:253:p:63-79

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    Cited by:
    1. Thanasis Stengos & Costantina Kottaridi, 2008. "Foreign Direct Investment, Human Capital And Nonlinearities In Economic Growth," Working Paper Series 20-08, The Rimini Centre for Economic Analysis, revised Jan 2008.
    2. Muhammad Arshad Khan, 2007. "Foreign Direct Investment and Economic Growth: The Role of Domestic Financial Sector," PIDE-Working Papers 2007:18, Pakistan Institute of Development Economics.
    3. Liu, Xiaming & Parker, David & Vaidya, Kirit & Wei, Yingqi, 2001. "The impact of foreign direct investment on labour productivity in the Chinese electronics industry," International Business Review, Elsevier, vol. 10(4), pages 421-439, August.
    4. Jocelyn Glass, Amy & Saggi, Kamal, 2002. "Licensing versus direct investment: implications for economic growth," Journal of International Economics, Elsevier, vol. 56(1), pages 131-153, January.

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