Globalization of R&D by U.S-based Multinational Enterprises
This paper examines patterns and determinants of overseas R&D investment by US-based manufacturing MNEs using a new panel dataset over the period 1990-2004. The analysis reveals that R&D intensity of operation of US MNE affiliates is mainly determined by the domestic market size, overall R&D capability and cost of hiring R&D personnel. There is no evidence to suggest that financial incentives have a significant impact on inter-country differences in R&D intensity when controlled for other relevant variables. Overall, our findings cast doubts on the efficacy of efforts by host country governments entice MNEs affiliates to engage in domestic R&D in a global context where R&D is becoming a truly global activity.
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| Length: | 47 pages |
| Date of creation: | 2009 |
| Date of revision: | |
| Handle: | RePEc:pas:papers:2009-07 |
| Contact details of provider: | Postal: Phone: +61 2 6125 4705 Fax: +61 2 6125 5448 Web page: https://crawford.anu.edu.au/acde/publications/Email: More information through EDIRC
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