Industrial groupings and foreign direct investment |
| |
Authors: | Bruce A Blonigen Christopher J Ellis |
| |
Institution: | a University of Oregon and NBER, Department of Economics, Eugene, OR 97403-1285, USA b University of Oregon, Department of Economics, Eugene, OR 97403-1285, USA c Monash University, Department of Economics, Clayton 3168, Victoria, Australia |
| |
Abstract: | 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. |
| |
Keywords: | Multinational enterprises Networking Keiretsu Agglomeration |
本文献已被 ScienceDirect 等数据库收录! |
|