FDI and superstar spillovers: Evidence from firm-to-firm transactions

• 成果类型: Article
• 署名作者: Amiti, Mary; Duprez, Cedric; Konings, Jozef; Van Reenen, John
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - New York; European Central Bank; National Bank of Belgium; University of Mons; Nazarbayev University; KU Leuven; University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2024.103972
• 发表日期: 2024
• 关键词: productivity; FDI; spillovers

摘要

Using firm-to-firm transactions, we show that starting to supply a 'superstar' firm (large domestic firms, exporters and multinationals) boosts productivity by 8% after three years. Placebos on starting relationships with smaller firms and novel identification strategies support a causal interpretation of superstar spillovers. Consistent with a model of technology transfer, we find bigger treatment effects from technology-intensive superstars and also falls in markups (in order to win superstar contracts). We also show that firms that start supplying superstar firms enjoy a 'dating agency' effect - an increase in the number of new buyers that is particularly strong within the superstar firm's network. Taken together, the results suggest an important role for raising productivity through superstars' supply chains regardless of multinational status.