Liberalisation and investment: behaviour of MNEs and large corporate firms in India
This study examines the impact of the economic liberalisation of the mid-1980s on the investment behaviour of large corporate firms operating in three oligopolistic Indian industries, namely, drugs and pharmaceuticals, chemicals, and industrial machinery. The contrast in investment behaviour between the pre- and the post-liberalisation periods is brought out by the maximum likelihood estimates of the determinants of investment shares of the sample firms for the two periods. The results show that the firm's share in the industry's investment during the industrial licensing regime depended primarily on market share and the firm's ability to pre-empt the licensed capacities. In the post-liberalisation period, capacity creation was fostered by technology imports, expenditures on R&D and product differentiation.
Volume (Year): 7 (1998)
Issue (Month): 5 (October)
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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.:
- Richard J. Gilbert & Marvin Lieberman, 1987.
"Investment and Coordination in Oligopolistic Industries,"
RAND Journal of Economics,
The RAND Corporation, vol. 18(1), pages 17-33, Spring.
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- Schmalensee, Richard, 1989. "Inter-industry studies of structure and performance," Handbook of Industrial Organization,in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009 Elsevier.
- Schmalensee, Richard., 1987. "Inter-industry studies of structure and performance," Working papers 1874-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Siddharthan, N S & Lall, Sanjaya, 1982. "The Recent Growth of the Largest U.S. Multinationals," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 44(1), pages 1-13, February.
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