期刊
JOURNAL OF INTERNATIONAL ECONOMICS
卷 79, 期 1, 页码 42-53出版社
ELSEVIER
DOI: 10.1016/j.jinteco.2009.05.004
关键词
Foreign direct investment; Productivity; Acquisitions; Privatizations; Emerging markets
类别
This paper analyzes the causal relationship between foreign ownership and various aspects of plant performance using micro data from the Indonesian Census of Manufacturing. It examines the implications of foreign ownership in two different contexts: foreign acquisitions and foreign privatizations. To control for the possible endogeneity of FDI decision propensity score matching is combined with a difference-in-differences approach. The results indicate that foreign ownership leads to significant productivity improvements in the acquired plants. The improvements become visible in the acquisition year and continue in subsequent periods. After three years, the acquired plants exhibit a 13.5% higher productivity than the control group. The rise in productivity is a result of restructuring, as acquired plants increase investment outlays, employment and wages. Foreign ownership also appears to enhance the integration of plants into the global economy through increased exports and imports. Finally, productivity improvements and evidence of restructuring are also found in the context of foreign privatizations. (C) 2009 Elsevier B.V. All rights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据