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| Tekijä: | Balsvik, R. Haller, S.A. |
| Otsikko: | Foreign firms and host-country productivity: does the mode of entry matter? |
| Lehti: | Oxford Economic Papers
2011 : JAN, VOL 63:1, p. 158-186 |
| Asiasana: | multinational companies foreign investment strategy entry conditions market entry international business production manufacturing Norway Nordic countries |
| Vapaa asiasana: | FDI |
| Kieli: | eng |
| Tiivistelmä: | Foreign direct investment (FDI) is held as an important source of knowledge spillovers. We suggest that the effects of foreign presence on host-country productivity may differ depending on the way of foreign entry. Using a long panel from the Norwegian Manufacturing Census, we find that greenfield entry both in the same industry and in the same labour market region has a negative effect on the domestic plants' productivity, whereas entry via acquisition impacts the productivity of domestic plants in the same industry positively. The positive effect from acquisitions supports the assumption of knowledge spillovers as these plants have pre-established linkages within the industry. The negative effects from greenfield entry can be associated to increased competition both in the product market and for accomplished employees in a tight labour market. The paper's findings help to explain the ambiguity of results in the empirical literature relating overall foreign presence to host-country productivity. |
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