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Inward Foreign Direct Investments and Productivity Growth in Japan

Author

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  • Yukako Murakami
  • Kyoji Fukao

Abstract

Firstly, this paper shows that before M&A the foreign firms value the facility and scale economy in target firms which have greater capital stock and sales in the host country. Secondly, out-in M&A firms acquired by foreign firms saw an improvement in their business efficiency after the acquisition. This finding suggests that out-in M&As involve a transfer of business resources or technological knowledge that help to further lift the efficiency of firms.

Suggested Citation

  • Yukako Murakami & Kyoji Fukao, 2006. "Inward Foreign Direct Investments and Productivity Growth in Japan," Hi-Stat Discussion Paper Series d05-143, Institute of Economic Research, Hitotsubashi University.
  • Handle: RePEc:hst:hstdps:d05-143
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    File URL: http://hi-stat.ier.hit-u.ac.jp/research/discussion/2005/pdf/D05-143.pdf
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    Cited by:

    1. International Monetary Fund, 2006. "Japan; Staff Report for the 2006 Article IV Consultation," IMF Staff Country Reports 06/275, International Monetary Fund.
    2. FUKAO Kyoji & HAMAGATA Sumio & INUI Tomohiko & ITO Keiko & Hyeog Ug KWON & MAKINO Tatsuji & MIYAGAWA Tsutomu & NAKANISHI Yasuo & TOKUI Joji, 2007. "Estimation Procedures and TFP Analysis of the JIP Database 2006 Provisional Version," Discussion papers 07003, Research Institute of Economy, Trade and Industry (RIETI).

    More about this item

    Keywords

    FDI; Total Factor Productivity; Merger and acquisition; Selection Hypothesis; Spillover;

    JEL classification:

    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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