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Outward Investment, Employment and Wages in Swedish Multinationals

  • Blomström, Magnus
  • Kokko, Ari

Examining detailed data on Swedish MNCs during the period 1986-1994, this paper shows that there are signs of very notable structural changes in the home country operations of these corporations. It also shows that the character of these changes varies according to economic conditions in the home country. In the 1980s, when the Swedish economy was characterized as having high taxes, high inflation rates, and a tight labour market, relatively attractive jobs within the MNCs were relocated from Swedish plants to foreign affiliates. In the 1990s, by contrast, when the financial crisis had necessitated a host of micro and macroeconomic reforms, the location decisions of the MNCs were more favourable for the Swedish economy. The new jobs created by the MNCs were found in activities with relatively high productivity and wages. This suggests that the home country effects of FDI are, to a large extent, determined by the home country’s economic environment.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2524.

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Date of creation: Nov 2000
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Handle: RePEc:cpr:ceprdp:2524
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  1. Magnus Blomstrom & Robert E. Lipsey & Ksenia Kulchycky, 1987. "U.S. and Swedish Direct Investment and Exports," NBER Working Papers 2390, National Bureau of Economic Research, Inc.
  2. Magnus Blomstrom & Robert E. Lipsey & Lennart Ohlsson, 1989. "What Do Rich Countries Trade with Each Other? R&D and the Composition of U.S. and Swedish Trade," NBER Working Papers 3140, National Bureau of Economic Research, Inc.
  3. Blomstrom, Magnus & Fors, Gunnar & Lipsey, Robert E, 1997. "Foreign Direct Investment and Employment: Home Country Experience in the United States and Sweden," Economic Journal, Royal Economic Society, vol. 107(445), pages 1787-97, November.
  4. Blomström, Magnus & Kokko, Ari, 1994. "Home Country Effects of Foreign Direct Investment: Evidence from Sweden," SSE/EFI Working Paper Series in Economics and Finance 3, Stockholm School of Economics.
  5. Magnus Blomstrom & Linda S. Goldberg, 2001. "Topics in Empirical International Economics: A Festschrift in Honor of Robert E. Lipsey," NBER Books, National Bureau of Economic Research, Inc, number blom01-1.
  6. Gunnar Fors & Ari Kokko, 2001. "Home-Country Effects of FDI: Foreign Production and Structural Change in Home-Country Operations," NBER Chapters, in: Topics in Empirical International Economics: A Festschrift in Honor of Robert E. Lipsey, pages 137-162 National Bureau of Economic Research, Inc.
  7. Froot, Kenneth A. (ed.), 1994. "Foreign Direct Investment," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226266213.
  8. Roger Svensson, 1996. "Effects of overseas production on home country exports: Evidence based on Swedish multinationals," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 132(2), pages 304-329, September.
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