Do FDI spillovers vary among home economies?: Evidence from Indonesian manufacturing

▶ This paper examines difference in spillover effects according to the origin of investors. ▶ In Indonesian manufacturing, East Asian MNCs imparted positive externalities. ▶ On the other hand, non-Asian MNCs did not impart significant effects. ▶ East Asian MNCs imparted stronger effects than Japanese MNCs did. ▶ However, Japanese MNCs enhanced the spillovers from other East Asian MNCs.