کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5086237 1375160 2011 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Vertical foreign direct investment: Evidence from Japanese and U.S. multinational enterprises
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Vertical foreign direct investment: Evidence from Japanese and U.S. multinational enterprises
چکیده انگلیسی

Foreign direct investment (FDI) in developing countries has increased since the 1990s, but there is mixed evidence of vertical FDI associated with factor-seeking motives. This paper estimates the vertical motive of offshore production by multinational enterprises (MNEs) by exploiting past schooling characteristics as instruments for skilled-labor abundance in a host country. Using panel data on Japanese and U.S. MNEs in the 1990s, I find that skilled-labor abundance has a significantly negative impact on sales of manufacturing foreign affiliate only for Japanese MNEs. The results suggest that vertical FDI activity was more prevalent in Japanese MNEs than U.S. MNEs. A plausible explanation is that Japanese MNEs might be more vertically integrated with their offshore production than U.S. MNEs. A difference in foreign outsourcing activities could generate the observed deviation between Japanese and U.S. MNEs.

Research highlights▶ Skilled-labor abundance in a host country decreases Japanese multinational sales. ▶ Instrumental-variable regression supports causality effects for Japanese multinationals. ▶ Vertical FDI is more prevalent for Japanese than U.S. multinational firms.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Japan and the World Economy - Volume 23, Issue 2, March 2011, Pages 97-111
نویسندگان
,