政治經(jīng)濟學外文翻譯(存儲版)
【正文】 this framework to measure the impact of foreign direct investment in the United States by a group of Japanese manufacturing firms on knowledge flows from American firms to these investing Japanese firms and from the investing Japanese firms to American inventors. To preview my empirical results, I find evidence that foreign direct investment enhances knowledge flows in both directions. I also find that the direction and degree of spillover flow is related to the characteristics of Japanese firms39。我們?nèi)孕枰M行更多的工作去了解 FDI 流入對東道國的影響。 與垂直效應(yīng)形成對比的是， FDI 的出現(xiàn)對在同一個部門的當?shù)仄髽I(yè)的績效有一個負影響。通過使用 1998—— 2020 年羅馬尼亞公司層面的面板數(shù)據(jù)， 檢驗 外商獨資子公司和合資企業(yè)在其 產(chǎn)業(yè)內(nèi)以及提供中間投入品的上游企業(yè)是否有一個不同的溢出范圍。通常的情況時地方合作者不太會去限制員工流轉(zhuǎn)率。holm, 1999). As writing a contract specifying all aspects of the rights to use intangible assets is difficult, if not impossible, joint domestic and foreign ownership of an investment project is more likely to lead to knowledge dissipation. A local partner may use the knowledge acquired from the foreign investor in its other operations not involving the foreign shareholders or being in charge of hiring policies, as is often the case, the local partner may have less incentive to limit employee This problem is reduced when the multinational is the sole owner of its As a consequence, multinationals may be more likely to transfer sophisticated technologies and management techniques to their wholly owned subsidiaries than to partially owned III2 This in turn has implications for knowledge spillovers to local producers in a host country. Less sophisticated technologies being transferred to jointly owned FDI projects may be easier to absorb by local petitors, which bined with a better access to knowledge through the actions of the local shareholder may lead to greater intraindustry (or horizontal) knowledge spillovers being associated with the shared ownership structure than with wholly owned foreign affiliates. Moreover, lower sophistication of inputs needed by jointly owned FDI projects and the familiarity of the local partner with local suppliers of intermediates may result in greater reliance on locally produced inputs and thus greater vertical spillovers accruing to local producers in upstream sectors. While a lot of research effort has been put into looking for the evidence of FDI spillovers (see the next section), little attention has been devoted to how the ownership structure affects this This paper is a step forward in understanding the implications of the ownership structure of FDI projects for the host country. Using firmlevel panel data from Romania for the 1998–2020 period, we examine whether wholly owned foreign affiliates and investments with joint domestic and foreign ownership are associated with a different magnitude of spillovers within the industry of operation and to upstream sectors supplying intermediate inputs. The results suggest that the ownership structure in FDI projects does matter for productivity spillovers. Consistent with our expectations, the analysis indicates that projects with joint domestic and foreign ownership are associated with positive productivity spillovers to upstream sectors but no such effect is detected for wholly owned foreign s
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