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The Impacts of Foreign Ownership on the Productivity of Korean Manufacturing Firms

Author

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  • Sung Jin Kang

    (Korea University)

Abstract

Using Korean firm-level panel data since the financial crisis, this paper shows that considering two possible econometric issues: unobservable firm-specific effects and potential endogeneity of foreign ownership, fixed-effect and first-differenced panel estimation results with instrumental variables present neither own productivity nor spillover effects of foreign ownership on local companies. This contrasts the results of estimation wherein the two econometric issues are neglected, showing contemporaneously positive and significant own productivity and spillover effects.

Suggested Citation

  • Sung Jin Kang, 2005. "The Impacts of Foreign Ownership on the Productivity of Korean Manufacturing Firms," Korean Economic Review, Korean Economic Association, vol. 21, pages 79-99.
    • Handle: RePEc:kea:keappr:ker-20050630-21-1-05
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    More about this item

    Keywords

    gforeign ownership; spillovers; productivity;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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