Industrial groupings and foreign direct investment

• 成果类型: Article
• 署名作者: Blonigen, BA; Ellis, CJ; Fausten, D
• 署名单位: University of Oregon; National Bureau of Economic Research; Monash University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2003.12.003
• 发表日期: 2005
• 页码: 75-91
• 关键词: Multinational enterprises; networking; keiretsu; agglomeration

摘要

We explore worldwide foreign direct investment (FDI) location decisions by Japanese manufacturing firms from 1985 through 1991. Our conditional logit estimates provide evidence that firms' location decisions are affected by membership in either vertical or horizontal keiretsu. Consistent with previous studies that stress agglomeration effects on firms' location decisions, we find that the stock of investment in a region by a firm's vertical keiretsu partners increases the probability of location. Further, we find that the recent flow of investment into a region by a firm's horizontal keiretsu partners increases the probability of investment to the region, providing evidence of networking effects. (C) 2004 Elsevier B.V. All rights reserved.