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Inward investment and technical progress in the UK

In: Inward Investment Technological Change and Growth

Author

Listed:
  • Florence Hubert
  • Nigel Pain

Abstract

Theories of the multinational firm (Dunning, 1988a) and econometric evidence on the determinants of foreign direct investment (FDI) (Barrell and Pain, 1997, 1999b) both highlight the extent to which the decision to establish foreign subsidiaries is influenced by the need to appropriate the rents accruing from investment in firm-specific knowledge-based assets and practices. Many new theoretical models also view the creation and exploitation of knowledge as the key factors driving the process of economic growth (Aghion and Howitt, 1998; Grossman and Helpman, 1991). Hence foreign-owned firms may help to transmit new ideas and technologies across national borders, particularly to industrialised economies and regional markets with location-specific advantages. This suggests that the location of economic activity could be an important endogenous influence on national growth prospects. In this chapter we present new evidence on the impact of inward investment on technical progress, and hence labour productivity and growth, in a number of different UK industries. We utilise two different data sets and a number of different estimation techniques in an attempt to assess the robustness of our findings.

Suggested Citation

  • Florence Hubert & Nigel Pain, 2001. "Inward investment and technical progress in the UK," Palgrave Macmillan Books, in: Nigel Pain (ed.), Inward Investment Technological Change and Growth, chapter 3, pages 66-103, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59844-7_3
    DOI: 10.1057/9780230598447_3
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    Cited by:

    1. Christian Bellak, 2004. "How Domestic and Foreign Firms Differ and Why Does it Matter?," Journal of Economic Surveys, Wiley Blackwell, vol. 18(4), pages 483-514, September.
    2. Anon Higon, Dolores, 2007. "The impact of R&D spillovers on UK manufacturing TFP: A dynamic panel approach," Research Policy, Elsevier, vol. 36(7), pages 964-979, September.

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