Влияние прямых иностранных инвестиций на производительность быстрорастущих компаний
Аннотация
This paper investigates the diverse impact of spillovers induced by foreign direct investment (FDI) to domestic firms in the developing world. It empirically examines two primary channels for transfer of knowledge and technology spillovers. First channel is contractual linkages among local enterprises and multinationals. Second is demonstration effects captured by indigenous businesses through imitation of technologies and managerial practices via observation or by hiring employees trained in foreign companies. The paper specifically focuses on the influence of spillovers on high-growth businesses, which are firms with disproportionally high job creation rates and, presumably, above-average absorptive capacities.
Applying data from nearly 12 thousand enterprises from 34 economic sectors, located in 11 low- and middle-income developing countries, we obtain results revealing that not only high-growth firms, but all domestic firms accrue positive spillovers through both channels, however, demonstration appears to be the dominant transmission medium. These findings have valuable implications for public policy design and enforcement, as government efforts and funding in developing economies are often targeted at supporting initiatives that seek to connect local suppliers with multinational companies.
Applying data from nearly 12 thousand enterprises from 34 economic sectors, located in 11 low- and middle-income developing countries, we obtain results revealing that not only high-growth firms, but all domestic firms accrue positive spillovers through both channels, however, demonstration appears to be the dominant transmission medium. These findings have valuable implications for public policy design and enforcement, as government efforts and funding in developing economies are often targeted at supporting initiatives that seek to connect local suppliers with multinational companies.