search query: @author Walz, U. / total: 5
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| Author: | Walz, U. |
| Title: | Innovation, foreign direct investment and growth |
| Journal: | Economica
1997 : FEB, VOL. 64:253, p. 63-79 |
| Index terms: | FOREIGN INVESTMENT INNOVATION GROWTH PRODUCTION PLANNING HIGH TECHNOLOGY MULTINATIONAL COMPANIES |
| Language: | eng |
| Abstract: | This study investigates the impact of foreign direct investment based on private production knowledge as a specific asset in a dynamic general equilibrium model with endogenous techonological change. Specific knowledge through R&D investments is acquired in the more developed country, and specific asset is used to establish a production plant in the low-cost country. Foreign direct investment enables the less developed economy to learn from the production activities of multinational corporations in that country. A steady-state equilibrium is derived, with active innovation and production activities in the high-technology sector in both countries. |
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