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The Drivers of Foreign Direct Investment into Research and Development: An Empirical Investigation

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Walter Kuemmerle (Harvard Business School)
Abstract

This paper examines the determinants of foreign direct investment (FDI) in research and development laboratories by 32 multinational enterprises in the pharmaceutical and electronics industries. The paper applies a dichotomous set of motives for FDI. Results from an econometric analysis of 136 laboratory investments show that relative market size and relative strength of a country's science base determine whether FDI in research and development is carried out in order to exploit existing firm-specific advantages, or in order to build up new firm-specific advantages. This holds true in similar form for Japanese, European and U.S. firms and across the two industries.© 1999 JIBS. Journal of International Business Studies (1999) 30, 1–24

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Article provided by Palgrave Macmillan Journals in its journal Journal of International Business Studies.

Volume (Year): 30 (1999)
Issue (Month): 1 (March)
Pages: 1-24
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Handle: RePEc:pal:jintbs:v:30:y:1999:i:1:p:1-24

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  2. John Cantwell, Rajneesh Narula, 2001. "The Eclectic Paradigm in the Global Economy," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 8(2), pages 155-172, July. [Downloadable!] (restricted)
  3. John Cantwell, Simona Iammarino, 2000. "Multinational Corporations and the Location of Technological Innovation in the UK Regions," Regional Studies, Taylor and Francis Journals, vol. 34(4), pages 317-332, June. [Downloadable!] (restricted)
  4. Rene Belderbos & Kyoji Fukao & Hyeog Ug Kwon, 2006. "Intellectual Property Rights Protection and the Location of Research and Development Activities by Multinational Firms," Hi-Stat Discussion Paper Series d06-167, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
  5. James H. Love, 2003. "Technology sourcing versus technology exploitation: an analysis of US foreign direct investment flows," Applied Economics, Taylor and Francis Journals, vol. 35(15), pages 1667-1678, October. [Downloadable!] (restricted)
  6. Sarianna Lundan, John Hagedoorn, 2001. "Alliances, Acquisitions and Multinational Advantage," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 8(2), pages 229-242, July. [Downloadable!] (restricted)
  7. Frey, Rainer & Hussinger, Katrin, 2006. "The Role of Technology in M&As: A Firm Level Comparison of Cross-Border and Domestic Deals," ZEW Discussion Papers 06-69, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
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  8. Davide Castellani, 2001. "Firms’ technological trajectories and the creation of foreign subsidiaries," International Trade 0108003, EconWPA. [Downloadable!]
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  9. Belderbos, Rene & Lykogianni, Elissavet & Veugelers, Reinhilde, 2005. "Strategic R&D Location by Multinational Firms: Spillovers, Technology Sourcing and Competition," CEPR Discussion Papers 5060, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Peter Nisbet & Wayne Thomas & Stuart Barrett, 2003. "UK direct investment in the United States: a mode of entry analysis," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 10(3), pages 245-259, November. [Downloadable!] (restricted)
  11. Alberto Di Minin & Christopher Palmberg, 2006. "A case for non-globalization? The organisation of r&d in the wireless telecommunications industry," Discussion Papers 1047, The Research Institute of the Finnish Economy. [Downloadable!]
  12. Huang, Can & Qu, Zhe & Zhang, Mingqian & Zhao, Yanyun, 2007. "R&D offshoring and technology learning in emerging economies: Firm-level evidence from the ICT industry," UNU-MERIT Working Paper Series 023, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Downloadable!]
  13. Wolfgang Sofka, 2005. "Global Idea Sourcing - An empirical investigation into the mechanisms behind the usage of foreign business sources for innovation," Industrial Organization 0509004, EconWPA. [Downloadable!]
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  14. Nagesh Kumar & Aradhana Aggarwal, 2000. "Liberalisation, outward orientation and in-house R & D activity of multinational and local firms: A quantitative exploration for Indian manufacturing," Institute of Economic Growth, Delhi Discussion Papers 18, Institute of Economic Growth, Delhi, India. [Downloadable!]
  15. Lee Branstetter & Raymond Fisman & C. Fritz Foley & Kamal Saggi, 2007. "Intellectual Property Rights, Imitation, and Foreign Direct Investment: Theory and Evidence," NBER Working Papers 13033, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  16. John H. Dunning, Cliff Wymbs, 2001. "The Challenge of Electronic Markets for International Business Theory," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 8(2), pages 273-301, July. [Downloadable!] (restricted)
  17. Erdal Atukeren, 2005. "R&D Races and Spillovers between the EU and the US: Some Causal Evidence," KOF Working papers 05-105, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
  18. Gersbach, Hans & Schmutzler, Armin, 2006. "Foreign Direct Investment and R&D Offshoring," CEPR Discussion Papers 5766, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  19. Spyros Arvanitis & Heinz Hollenstein, 2006. "Determinants of Swiss Firms’ R&D Activities at Foreign Locations: An Empirical Analysis Based on Firm-level Data," KOF Working papers 06-127, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
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