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Multinationals and diffrsion of technology Between developed countries

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Author Info
Jorge Crespo
Francisco Javier Velázquez

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Abstract

This paper analyses the role played by foreign direct investment (FDI) as a mechanism through which technology flows between countries. After a short review of the existing literature it is observed that aggregate studies do not obtain evidence of the existence of technology spillovers amongst the OECD countries. These results oppose the presumption among many academics and policy-makers that FDI helps accelerate the process of economic development in host countries. The conclusion drawn is that spillovers have taken place, but that there is a problem of overlap between the variables used in these analyses which prevents their impact being captured properly.

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Paper provided by European Economy Group in its series European Economy Group Working Papers with number 26.

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Length: 26 pages
Date of creation: 2003
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Handle: RePEc:eeg:euroeg:26

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Postal: Despacho 104.Pabelloon de Segundo, Facultad de Economicas. Universidad Complutense de Madrid. 28223 Pozuelo de Alarcon, Madrid
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  3. Richard Blundell & Steve Bond, 1999. "GMM estimation with persistent panel data: an application to production functions," IFS Working Papers W99/04, Institute for Fiscal Studies. [Downloadable!]
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  4. Park, Walter G, 1995. "International R&D Spillovers and OECD Economic Growth," Economic Inquiry, Oxford University Press, vol. 33(4), pages 571-91, October.
  5. Girma, Sourafel & Wakelin, Katharine, 2001. "Regional Underdevelopment: Is FDI the Solution? A Semiparametric Analysis," CEPR Discussion Papers 2995, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  8. Aitken, Brian & Harrison, Ann & DEC, 1994. "Do domestic firms benefit from foreign direct investment? Evidence from panel data," Policy Research Working Paper Series 1248, The World Bank. [Downloadable!]
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  10. Richard Blundell & Steve Bond & Frank Windmeijer, 2000. "Estimation in dynamic panel data models: improving on the performance of the standard GMM estimator," IFS Working Papers W00/12, Institute for Fiscal Studies. [Downloadable!]
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  13. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July. [Downloadable!] (restricted)
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  14. Lichtenberg, Frank R. & Pottelsberghe de la Potterie, Bruno v., 1998. "International R&D spillovers: A comment," European Economic Review, Elsevier, vol. 42(8), pages 1483-1491, September. [Downloadable!] (restricted)
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