5,699 research outputs found
MNEs and Export Spillovers : An Analysis of Indian Manufacturing Industries
In the present study, we try to provide some empirical evidence for the export spillover effect examining the case of an emerging economy, namely India using firm level data for the period 1994-2006. We disentangle different spillover channels, namely export spillover, R&D spillover and wage spillover. We also consider the heterogeneous technological behaviour of local firms considering how in-house R&D efforts and disembodied technological imports may affect the overall exporting performance. Our findings mainly confirm that the two most important channels for export spillover are mainly the demonstration effect and the R&D spillover effect The decision to export is influenced mainly by technological activities of local firms, confirming that R&D is a key variable that help firms to overcome fixed costs that are crucial to start exporting. Moreover, the findings of the analysis suggest that local firms R&D is highly relevant to internalize the positive spillover effect emanating from MNEs both with regard to decision to export and export propensity.exports, FDI spillover, MNEs
FDI, EXPORT SPILLOVER AND FIRM HETEROGENEITY - AN APPLICATION TO THE INDIAN MANUFACTURING CASE
The role of Foreign Direct Investments (FDI) in the process of economic development is of particular relevance since they bring in some specific technological assets that are not immediately available in the host country. The literature related to the microeconomic impact of FDI has been mainly concentrated in explaining the final effect on productivity, caused by the fact that Multinational Enterprises (MNEs) are not completely able to protect their superior assets from spilling over. However, there is a relatively unexplored effect that has recently been at the center of some studies that is the export spillover effect. Up to now, the literature has found out only mixed results with regard to the possibility that MNEs influence both export decision and export intensity of local firms. In the present paper, we provide some empirical evidence for that specific effect examining a case of an emerging economy, namely India for the period 1994-2006 by using a firm level dataset of more than 3000 firms belonging to manufacturing industries. In particular, we introduce the theoretical argument related to the MNEs heterogeneity which has not been properly investigated especially in empirical studies trying to understand whether, by using different measures characterizing MNEs behaviour, it is possible to distinguish between different impacts that MNEs have on export performance of local firms. We estimate the model through the Heckman selection technique after having built spillover variables that take into account five types of heterogeneity: the degree of involvement in trade networks, the level of embeddedness inside the innovation system of the host country, the asset seeking vs asset exploiting motivations(technological intensity), the type and amount of inputs sourced from abroad rather than from the host country and the percentage of the foreign equity stake. The second step of the analysis we perform is that of testing the relationship between the heterogeneity of MNEs with the heterogeneity of local firms splitting the sample according to the level of R&D intensity, the level of embeddness into the innovation system and the involvement in trade activities. Results confirm the hypothesis of different impacts caused by different MNEs behaviour especially with regard to the export intensity, while a greater impact on export decision is found when heterogeneity of local firms is accounted for.Exports, spillover, MNCs
Exports and FDI motivations: empirical evidence from US foreign subsidiaries
The expected indirect benefits Foreign Direct Investments (FDI) are supposed to bring into the host countries are drawn mainly from studies at the microeconomic level. Empirical analyses examine whether FDI may be the source of productivity spillover effect on local firms and a new emerging literature analyses the effect with regard to the their export performance. However, conclusive results have not been reached so far. Two main shortcomings affect this literature: firstly, it is difficult to generalize results valid across countries; secondly, the role played by FDI motivations is largely disregarded. For these reasons, the aim of the paper is that of testing the effects of US FDI on export intensity at the sectoral level in 16 OECD countries over the period 1990-2001. Through these data, we are able to disentangle asset seeking and asset exploiting motivations and especially we are able to distinguish the channels through which the effect is going to occur. The findings show that taking into consideration the different motivations for which Multinational Enterprises (MNEs) invest abroad is relevant. The asset exploiting motivations, and in particular market seeking FDI, are those that affect export intensity to a greater extent
Horizontal and Vertical FDI: a comparative analysis of technological determinants
The study analyzes the role played by technological determinants, using the approach of National System of Innovation (NSI), in enhancing or hampering Foreign Direct Investments (FDI) with different motivations, namely horizontal and vertical FDI. The empirical analysis is carried out using data relative to the final destination of sales of US foreign subsidiaries in 42 host countries grouped according to income criteria. A three step empirical strategy is employed: first, we estimate a benchmark model finding that technological determinants exert a greater in influence in high income countries especially for vertical FDI. Secondly, applying a dynamic panel data approach we take into account that agglomeration economies may play a role as well as other FDI determinants. Finally, we are able to further disentangle the destination of sales according to whether they are directed towards other foreign affiliates or to unaffiliated persons recognizing that they are affected by different determinants
Firms' exporting and importing activities: is there a two-way relationship?
The literature on firm heterogeneity and trade has highlighted that most trading firms tend to engage in both importing and exporting activities. This may be due to some common sunk costs or to a true state dependence. This paper provides some evidence that helps sort this issue out. Using firm level data for a group of 27 Eastern European and Central Asian countries from the World Bank Business Environment and Enterprise Performance Survey (BEEPS) over the period 2002-2008, we estimate a bivariate probit model of exporting and importing. The main finding is that there is a positive correlation between import and export at the level of the firm, but after controlling for size (and other firm level characteristics) importing have a positive effect on exporting, but exporting to not increase the probability of importing. The evidence is thus consistent with the presence of common sunk costs and with a one-way link between importing and exporting. The positive effect of import on export is mainly due to an increase in firm productivity and product innovation.Exports, Imports, Firm heterogeneity, Eastern European and Central Asian countries
The "potential" face of absorptive capacity. An empirical investigation for an area of 3 European countries
This paper draws on the multi-dimensional characterization of absorptive capacity (AC) to empirically investigate the antecedents and the effects of its "potential" dimension (PAC): i.e., the firm's capacity of acquiring and assimilating external knowledge, as distinguished from its "realized" transformation and exploitation (RAC). Based on a sample of about 10,500 firms for an area of 3 EU countries (Italy, Germany and Spain) we find that the firm's reliance on external knowledge in general increases its PAC, and that this effect is magnified by the internal shocks the firm faces. However, both these effects find relevant exceptions when different kinds of external sources are considered, at different kinds of distance from the absorbing firm. Unexpectedly, social integration mechanisms in the firm makes PAC less, rather than more, inductive of innovation outcomes. On the contrary, the human capital of the firm has a positive moderating role on the PAC effects. A possible trade-off in the exploitation of the externally assimilated knowledge is suggested.absorptive capacity; external knowledge; innovation
On indirect trade-related R&D spillovers: the role of the international trade network
The paper aims at investigating the role that one country's position in the international trade network has in attracting knowledge and technology flows to it. By referring to "indirect" Research and Development (R&D) spillovers, we argue that not only is this position responsible for the number of R&D flows one country benefits from, but also for their economic impact to an extent depending on the number of trade relationships which separate it from its trade partners. This argument is developed by extending to trade-related R&D spillovers the intersectoral Average Propagation Length (APL) of exogenous shocks in sectoral final demand or value added. The inter-country APL of foreign R&D is then used to weight the (total factor) productivity impact of the foreign R&D stock available to one country, along with that of the R&D stock produced domestically. Different specifications of such an econometric model are estimated with respect to 21 OECD countries over the decade 1995-2005. The results are consistent with those of the models which explicitly recognize the role of indirect R&D spillovers: in particular, the TFP elasticity of the foreign R&D available stock is greater than that of the foreign R&D produced stock. The APL based results are however more robust, as they depend on the actual economic distance in trade of one country from the others, rather than, as in previous models, on the (most fitting) estimated value of its economic consequences.Average Propagation Length, International R&D spillovers, International trade network, Total Factor Productivity
Behavioral and electrophysiological correlates of cognitive control in ex-obese adults
Impaired cognitive control functions have been documented in obesity. It remains unclear whether these functions normalize after weight reduction. We compared ex-obese individuals, who successfully underwent substantial weight loss after bariatric surgery, to normal weight participants on measures of resistance to interference, cognitive flexibility and response inhibition, obtained from the completion of two Stroop tasks, a Switching task and a Go/NoGo task, respectively. To elucidate the underlying brain mechanisms, event-related potentials (ERPs) in the latter two tasks were examined. As compared to controls, patients were more susceptible to the predominant but task-irrelevant stimulus dimension (i.e., they showed a larger verbal Stroop effect), and were slower in responding on trials requiring a task-set change rather than a task-set repetition (i.e., they showed a larger switch cost). The ERP correlates revealed altered anticipatory control mechanisms (switch positivity) and an exaggerated conflict monitoring response (N2). The results suggest that cognitive control is critical even in ex-obese individuals and should be monitored to promote weight loss maintenance
CO2 outgassing during collisional orogeny is facilitated by the generation of immiscible fluids
Polysaccharide-based self-assembling nanohydrogels: An overview on 25-years research on pullulan
The aim of this overview is to review the evolution of the studies carried out, during more than 25 years,
on nanohydrogels obtained by self-assembling of pullulan (PUL) using several hydrophobization strategies.
After the first publications, mainly devoted to the preparation and characterization of PUL
nanogels, a remarkable number of studies demonstrated how wide can be the field of applications within
the main topic of biopharmaceutics. Numerous hydrophilic and lipophilic drugs were entrapped in the
nanogel networks, consequently PUL nanogels have been proposed as delivery systems for single drugs
and for combination therapies which allowed improvements of pharmacological activities and patient
compliance. Furthermore, the large amount of water content allowed loading also proteins which could
maintain their native structure and properties. Stimuli-sensitive and stealth PUL nanogel formulations
allowed improving the performances of antitumor drugs. These nanohydrogels have also been studied
for imaging techniques and for vaccines to be administered by injection and by mucosal application. The
studies on PUL nanogels are still in progress and the perspectives for future researches are also
addressed
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