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Productivity Spillovers from Multinational Corporations in the Portuguese Case: Evidence from a Short Time Period Panel Data

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Author Info
Isabel Proença
Maria Paula Fontoura
Nuno Crespo

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Abstract

Empirical evidence on productivity spillovers - a concept that embodies the fact that foreign enterprises own intangible assets which can be transmitted to domestic firms, thus raising their productivity level - is ambiguous. With a panel data set at the firm level for the Portuguese manufacturing industry, we aim to uncover the possibility that the choice of statistical techniques will have profound effects on evidence of spillovers diffusion. We will consider the panel data models commonly used in the literature and the recent and more robust Extended GMM technique, specially devised for panels with a small number of time periods. We find that positive spillovers occur only when the technologic gap between domestic and foreign firms is moderate. Though all methods agree on this result. there are differences worth to be noted, revealing that the traditional estimates can sometimes be misleading.

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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2002/06.

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Date of creation: 2002
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Handle: RePEc:ise:isegwp:wp62002

Contact details of provider:
Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

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Related research
Keywords: Domestic firm productivity; multinational corporations; Portugal; technological spillovers; panel data; Extended GMM.;

Find related papers by JEL classification:
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. Fontoura, Maria Paula & Flôres Junior, Renato Galvão & Santos, Rogério Guerra, 2000. "Foreign Direct Investment Spillovers: What Can We Learn From Portuguese Data?," Economics Working Papers (Ensaios Economicos da EPGE) 366, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]
  3. Blomstrom, Magnus & Kokko, Ari, 1998. " Multinational Corporations and Spillovers," Journal of Economic Surveys, Blackwell Publishing, vol. 12(3), pages 247-77, July. [Downloadable!] (restricted)
    Other versions:
  4. Arellano, Manuel, 1990. "Testing for Autocorrelation in Dynamic Random Effects Models," Review of Economic Studies, Blackwell Publishing, vol. 57(1), pages 127-34, January. [Downloadable!] (restricted)
  5. Steven Globerman, 1979. "Foreign Direct Investment and `Spillover' Efficiency Benefits in Canadian Manufacturing Industries," Canadian Journal of Economics, Canadian Economics Association, vol. 12(1), pages 42-56, February. [Downloadable!] (restricted)
  6. Brian J. Aitken & Ann E. Harrison, 1999. "Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela," American Economic Review, American Economic Association, vol. 89(3), pages 605-618, June. [Downloadable!] (restricted)
  7. Ari Kokko & Ruben Tansini & Mario Zejan, 1994. "Productivity spillovers from FDI in the Uruguayan manufacturing sector," Documentos de Trabajo (working papers) 0194, Department of Economics - dECON. [Downloadable!]
    Other versions:
  8. Gorg, Holger & Strobl, Eric, 2001. "Multinational Companies and Productivity Spillovers: A Meta-analysis," Economic Journal, Royal Economic Society, vol. 111(475), pages F723-39, November. [Downloadable!] (restricted)
  9. Frances Ruane, 2003. "Foreign direct investment in Ireland," Working Papers 000056, Lancaster University Management School, Economics Department. [Downloadable!]
  10. Vinish Kathuria, 2000. "Productivity spillovers from technology transfer to Indian manufacturing firms," Journal of International Development, John Wiley & Sons, Ltd., vol. 12(3), pages 343-369.
  11. Xiaming Liu & Pamela Siler & Chengqi Wang & Yingqi Wei, 2000. "Productivity Spillovers From Foreign Direct Investment: Evidence From UK Industry Level Panel Data," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 31(3), pages 407-425, September. [Downloadable!] (restricted)
  12. Jozef Konings, 2000. "The Effects of Foreign Direct Investment on Domestic Firms: Evidence from Firm Level Panel Data in Emerging Economies," William Davidson Institute Working Papers Series 344, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Frank Barr & Maria Paula Fontoura & Nuno Crespo, 2003. "EU Enlargement and the Portuguese Economy," Working Papers 2003/06, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  2. Nuno Crespo & Maria Paula Fontoura, 2005. "Determinant Factors of FDI Spillovers – What Do We Really Know?," Working Papers 2005/06, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  3. Horácio Faustino & Nuno Carlos Leitão, 2005. "The Intra Industry Trade between Portugal European Union, Portugal Spain, Portugal-France, Portugal Germany, Portugal-Ireland, Portugal-Greece and Portugal-Netherlands - a Dynamic Panel Data Analysis ," ERSA conference papers ersa05p23, European Regional Science Association. [Downloadable!]
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