Does inward foreign direct investment boost the productivity of domestic firms?

Are there productivity spillovers from FDI to domestic firms, and, if so, how much should host countries be willing to pay to attract FDI? To examine these questions, we use a plant-level panel covering U.K. manufacturing from 1973 through 1992. Consistent with spillovers, we estimate a robust and significantly positive correlation between a domestic plant's TFP and the foreign-affiliate share of activity in that plant's industry. Typical estimates suggest that a 10-percentage-point increase in foreign presence in a U.K. industry raises the TFP of that industry's domestic plants by about 0.5%. We also use these estimates to calculate the per-job value of these spillovers at about £2,400 in 2000 prices ($4,300). These calculated values appear to be less than per-job incentives governments have granted in recent high-profile cases, in some cases several times less

An unified cosmological evolution driven by a mass dimension one fermionic field

An unified cosmological model for an Universe filled with a mass dimension one (MDO) fermionic field plus the standard matter fields is considered. After a primordial quantum fluctuation the field slowly rolls down to the bottom of a symmetry breaking potential, driving the Universe to an inflationary regime that increases the scale factor for about 71 e-folds. After the end of inflation, the field starts to oscillate and can transfer its energy to the standard model particles through a reheating mechanism. Such a process is briefly discussed in terms of the admissible couplings of the MDO field with the electromagnetic and Higgs fields. We show that even if the field loses all its kinetic energy during reheating, it can evolve as dark matter due a gravitational coupling (of spinorial origin) with baryonic matter. Since the field acquires a constant value at the bottom of the potential, a non-null, although tiny, mass term acts as a dark energy component nowadays. Therefore, we conclude that MDO fermionic field is a good candidate to drive the whole evolution of the Universe, in such a way that the inflationary field, dark matter and dark energy are described by different manifestations of a single field.Comment: 22 pages, 5 figure