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Knowledge-Capital, International Trade and Foreign Direct Investment: A Sectoral Analysis

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Author Info

  • Titus O. Awokuse

    ()
    (Department of Food and Resource Economics, University of Delaware)

  • Keith E. Maskus

    ()
    (Department of Economics,University of Colorado)

  • Yiting An

    ()
    (Senior Economist, Ernst and Young Consulting)

Abstract

The knowledge-capital (KC) model of MNEs is now a widely adopted empirical approach to explaining the location and production decisions of global firms based on both horizontal and vertical motivations. While most of the existing studies have focused on highly aggregated national data, we extend this model to sectoral data consisting of broad manufacturing industries and explicitly account for the dynamic nature of international investment data. The empirical results from a dynamic panel data analysis indicate that that the predictions of the KC model regarding MNE behavior vary by the type of industry. Production processes in electronics and transportation-equipment are more characterized by efficient vertical specialization of R&D activities and assembly, while other sectors display more complex motivations.

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File URL: http://graduate.lerner.udel.edu/sites/default/files/ECON/PDFs/RePEc/dlw/WorkingPapers/2010/UDWP2010-11.pdf
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Bibliographic Info

Paper provided by University of Delaware, Department of Economics in its series Working Papers with number 10-11.

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Length: 32 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:dlw:wpaper:10-11.

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Postal: Purnell Hall, Newark, Delaware 19716
Phone: (302) 831-2565
Fax: (302) 831-6968
Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
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Keywords: FDI; knowledge-capital model; exports; GMM;

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Cited by:
  1. Ivanovic, Zoran & Baresa, Suzana & Bogdan, Sinisa, 2011. "Influence Of Fdi On Tourism In Croatia," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 2(1), pages 21-28.

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