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Migration of Firms, Home Bias and the Geographical Distribution of Growth

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Author Info
Gilad Aharonovitz
Abstract

Foreign investment and the activity of foreign firms can have a substantial effect on an economy. This study examines the short run and long run effects of the movement of locally owned firms from a developed country to an undeveloped country on the output and growth rate of each in the presence of home bias. The paper analyzes the direction of movement of firms over time, firm ownership, GDP, GNP, wages and long run growth rates using a model in which the source of growth is the increase in the number of firms (which produce with decreasing marginal productivity). Various government policies towards the entry of foreign firms are examined and it is found that for the undeveloped country harsher policies towards entering firms lead to better results in the long run. Counter-policies are briefly discussed.

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File URL: http://www.ifw-kiel.de/VRCent/DEGIT/paper/degit_11/C011_038.pdf
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Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c011_038.

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Length: 32 pages
Date of creation: Jun 2006
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Handle: RePEc:deg:conpap:c011_038

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  5. Markusen, James R., 1984. "Multinationals, multi-plant economies, and the gains from trade," Journal of International Economics, Elsevier, vol. 16(3-4), pages 205-226, May. [Downloadable!] (restricted)
  6. Maurice Obstfeld, 2006. "The Global Capital Market: Benefactor or Menace?," Center for International and Development Economics Research, Working Paper Series 1026, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
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  7. Gene M. Grossman & Elhanan Helpman, 2002. "Outsourcing in a Global Economy," NBER Working Papers 8728, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Robert C. Feenstra & Gordon H. Hanson, 2004. "Ownership and Control in Outsourcing to China: Estimating the Property-Rights Theory of the Firm," NBER Working Papers 10198, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. Brezis, Elise S & Krugman, Paul R & Tsiddon, Daniel, 1993. "Leapfrogging in International Competition: A Theory of Cycles in National Technological Leadership," American Economic Review, American Economic Association, vol. 83(5), pages 1211-19, December. [Downloadable!] (restricted)
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  12. Markusen, James R. & Venables, Anthony J., 1998. "Multinational firms and the new trade theory," Journal of International Economics, Elsevier, vol. 46(2), pages 183-203, December. [Downloadable!] (restricted)
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  13. Helpman, Elhanan, 1984. "A Simple Theory of International Trade with Multinational Corporations," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 451-71, June. [Downloadable!] (restricted)
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