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Determinants Of Investme??T Flows In U.S. Manufacturing

  • Jason P. Brown

    ()

  • Raymond J.G.M. Florax

    ()

  • Kevin T. McNamara

    ()

    (Purdue University,Dept. of Agricultural Economics)

The purpose of the paper is to test the long-run steady state of growth factors hypothesized to influence U.S. manufacturing investment flows. These factors include agglomeration, market structure, labor, infrastructure, and fiscal policy. Spatial cross-regressive and spatial Durbin models are used to measure the spatial interaction of investment flows. Spatial spillovers are found to be of a competitive nature at the state level, implying that a factor which attracts more investment to a particular state is associated with lower investments in neighboring states. Investment flows to states with higher market demand, more productive labor, and more localized agglomeration of manufacturing activity.

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File URL: http://ageconsearch.umn.edu/bitstream/54835/2/09-10.pdf
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Paper provided by Purdue University, College of Agriculture, Department of Agricultural Economics in its series Working Papers with number 09-10.

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Length: 27 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:pae:wpaper:09-10
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  2. Florax, R. & Folmer, H., 1991. "Specification and Estimation of Spatial Linear Regression Models: Monte Carlo Evaluation of Pre-Test Estimator," Mansholt Working Papers 1991-4, Wageningen University, Mansholt Graduate School of Social Sciences.
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  15. Gerhard Untiedt & Hans Joachim Schalk, 2000. "Regional investment incentives in Germany: Impacts on factor demand and growth," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 34(2), pages 173-195.
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