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Taking stock of firm-level and country-level benefits from foreign direct investment

Bruno, RL; Campos, NF; Estrin, S; (2018) Taking stock of firm-level and country-level benefits from foreign direct investment. Multinational Business Review , 26 (2) pp. 126-144. 10.1108/MBR-02-2018-0011. Green open access

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Abstract

Purpose: This paper aims to conduct a systematic meta-analysis on emerging economies to summarize these effects and throw light on the strength and heterogeneity of these conditionalities. / Design/methodology/approach: his paper proposes a new methodological framework that allows country- and firm-level effects to be combined. The authors hand collected information from 175 studies and around 1,100 estimates in Eastern Europe, Asia, Latin America and Africa from 1940 to 2008. / Findings: The two main findings indicate that “macro” effects are much larger than enterprise-level ones, by a factor of at least six and the benefits from foreign direct investment (FDI) into emerging economies are substantially less “conditional” than commonly thought. / Originality/value: The empirical literature has not reached a conclusion as to whether FDI yields spillovers when the host economies are emerging. Instead, the results are often viewed as conditional. For macro studies, this means that the existence and scale of spillover effects are contingent on the levels of institutional, financial or human capital development attained by the host economies. For enterprise-level studies, conditionality relates to the type of inter-firm linkages, namely, forwards, backwards or horizontal.

Type: Article
Title: Taking stock of firm-level and country-level benefits from foreign direct investment
Open access status: An open access version is available from UCL Discovery
DOI: 10.1108/MBR-02-2018-0011
Publisher version: http://dx.doi.org/10.1108/MBR-02-2018-0011
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Foreign direct investment, Aggregate productivity, Meta-regression-analysis, Overall effects, Enterprise performance
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/10044782
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