| 来源类型 | Discussion paper
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| 规范类型 | 论文
|
| 来源ID | DP2997
|
| DP2997 Mean Variance Portfolio Allocation with a Value at Risk Constraint |
| ENRIQUE SENTANA
|
| 发表日期 | 2001-10-17
|
| 出版年 | 2001
|
| 语种 | 英语
|
| 摘要 | In this Paper we aim to examine the regional impact of foreign-owned establishments on the performance of domestic establishments in the electronics industry in the UK. We use establishment-level data taken from the UK Census of Production (the ARD) to this end. In the econometric specification, we allow for the time-varying endogeneity of the factors of production function, and correct for the sample-selection bias generated by plants with larger capital stocks surviving in spite of lower productivity realisations. The FDI spillover literature has so far abstracted from the selection problem generated by plant exit. To our knowledge, this is the first Paper that simultaneously attempts to correct the production parameter estimates for selectivity induced by plant exit as well as time-varying endogeneity (the ?not so fixed? effect), before identifying the impact of foreign direct investment on domestic plant?s productivity. The results indicate that positive spillovers exist but are mostly confined to the region in which the MNE locates. A number of characteristics influence their level, they are higher from non-US firms (in particular Japanese firms) and in more-developed regions. |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Foreign direct investment
Production functions
Spillovers
Regional development
|
| URL | https://cepr.org/publications/dp2997
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532033
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推荐引用方式
GB/T 7714 |
ENRIQUE SENTANA. DP2997 Mean Variance Portfolio Allocation with a Value at Risk Constraint. 2001.
|
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