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Title: Productivity spillovers from multinational corporations: vulnerability to deficient estimation
Authors: Proença, I.
Fontoura, M. P.
Crespo, N.
Keywords: Domestic firm productivity
Multinational corporation
Technological spillovers
Panel data
Extended GMM
Issue Date: 2006
Publisher: Euro-American Association of Economic Development
Abstract: Evidence on productivity spillovers from FDI to domestic firms is ambiguous. Incorrect estimation procedures may be one of the sources for the contradictory results obtained in empirical studies on this subject. We observe that inadequacy of the estimation procedures leads to a severe underestimation of the spillover effect. An appropriated econometric methodology is discussed taking into consideration the possible simultaneity of FDI and other explanatory variables and endogeneity related to firm unobserved heterogeneity. Robust inference is also addressed. Our findings for the Portuguese case seem sufficient clear to warn about spillover results obtained with a non-judicious application of the classical panel data methods.
Peer reviewed: yes
ISSN: 1578-4487
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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