Knowledge spillovers from foreign direct investment in R&D: Evidence from Japanese firm-level data |
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Authors: | Yasuyuki Todo |
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Institution: | aSchool of International Politics, Economics and Business, Aoyama Gakuin University, 4-4-25, Shibuya-ku, Shibuya, Tokyo 150-8366, Japan |
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Abstract: | This study uses firm-level panel data from the Japanese manufacturing industries and examines whether foreign direct investment generates intra-industry knowledge spillovers to domestic firms. The analysis found positive effects of R&D stocks of foreign firms on the productivity of domestic firms, while effects of capital stocks of foreign firms were absent, suggesting that knowledge of foreign firms spills over through their R&D activities, but not through their production activities. In addition, we found that the extent of spillovers from R&D stock of foreign firms is substantially larger than spillovers from R&D stock of domestic firms. |
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Keywords: | Knowledge spillovers Foreign direct investment R& D activities |
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