Language:
English
Pages:
21 p.
,
21 x 29.7cm
Series Statement:
OECD Economics Department Working Papers no.268
Keywords:
Economics
;
United Kingdom
Abstract:
This paper investigates the impact of direct investment by foreign-owned companies on technical progress and hence labour productivity in the UK manufacturing sector. Using an industry-level panel data set we find that foreign-owned firms have a significant positive effect on the level of technical efficiency in domestic firms. There is evidence of significant intra-industry and inter-industry spillovers from inward investment. These findings remain robust even when other factors such as imports and domestic R&D expenditures are allowed for. Inward investment appears to be a much more important source of technical progress than foreign trade ...
DOI:
10.1787/171541878788
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