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Multinationals, R&D and productivity: Evidence for UK Manufactoring firms

By Dolores Añón Higón, Miguel C. Manjón Antolín and Juan A. Máñez

Abstract

In this study we analyze multinationality (domestic-based firms vs. multinationals) and foreignness (foreign vs. domestic firms) effects in the returns of R&D to productivity. We follow a two-step strategy. In the first step, we consistently ''s productivity by GMM and numerically compute the sample distribution of the R&D returns. In the second step, we use stochastic dominance techniques to make inferences on the multinationality and foreignness effects. Results for a panel of UK manufacturing firms suggest that multinationality and foreignness effects operate in an opposite way: whilst the multinationality effect enhances R&D returns, the foreignness diminishes them.Empreses multinacionals, Investigació industrial, Productivitat industrial, 339 - Comerç. Relacions econòmiques internacionals. Economia mundial. Màrqueting,

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