Foreign Direct Investment and mark-up dynamics: Evidence from Spanish firms

• 成果类型: Article
• 署名作者: Sembenelli, Alessandro; Siotis, Georges
• 署名单位: Universidad Carlos III de Madrid; University of Turin; Collegio Carlo Alberto
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2008.05.003
• 发表日期: 2008
• 页码: 107-115
• 关键词: foreign direct investment; Technology transfer; spillovers; EFFICIENCY; COMPETITION; panel data; gmm

摘要

A review of the literature indicates that Foreign Direct Investment has the potential to increase the intensity of competition and to act as a channel for technology transfers. Using a Spanish firm level data set, we disentangle these effects by estimating a dynamic model of firm level performance, which we proxy by mark-ups. We find that FDI has a positive long-run effect on the mark-ups of targets, but this is limited to firms in R&D intensive sectors. In addition, we find weak evidence that foreign presence dampens margins. However, this effect appears to be more than compensated by positive spillovers in the case of knowledge intensive industries. (C) 2008 Elsevier B.V. All rights reserved.