Vertical spillovers from multinational enterprises: Does technological gap matter?

PRODUCTIVITY SPILLOVERS FROm mULTINATIONAL COmPANIES

Many host country governments assume that inward Foreign Direct Investment (FDI) can bestow large benefits to the economy, bringing not only new investment that boosts national income but also an inflow of new foreign knowledge and technology. The purpose of this chapter is to review the evidence of the importance of these productivity spillovers from inward FDI. It finds that the international...

Knowledge Spillovers from FDI in China: The Role of Educated Labor in Multinational Enterprises

Interest rate and output gap: Does central bank credibility matter?

This paper studies the effects of central bank credibility on nominal interest rate and output gap on 17 inflation targeting (IT) developing countries using Instrument Variables (IV) over a period that spans 24 years (1996-2019). In the first stage, using new Keynesian model is obtained “Credibility loss” index to measure the importance of central bank past performance and its deviation from it...

Does licensing induce technological spillovers to domestic firms ?

Productivity differences can explain differences in economic growth across countries. It has been demonstrated that the presence of a foreign-owned multinational enterprise (MNE) in a developing country is one of the most important methods through which technology transfer occurs. This presence could be in the form of foreign direct investment (FDI), licensing, or imports from the developing co...

Multinational Spillovers through Worker Turnover∗

Labor turnover is a commonly-cited mechanism for the transmission of spillovers from multinational to domestic firms, but until now there has been little direct evidence for this mechanism. Using a novel matched establishment-worker database from Brazil, I present evidence consistent with the existence of positive multinational spillovers through worker mobility in Brazil. The paper explores wh...