| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5827 |
| DP5827 Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange, 1880-1910 | |
| Thomas Gehrig; Caroline Fohlin | |
| 发表日期 | 2006-09-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The first aim of this paper is to decompose the productivity advantage of foreign multinationals into two components: the technology and scale effect. The second aim is to analyse the causal relationship between foreign ownership and these two components of productivity growth. We do so by analyzing the effects of an acquisition of a domestic establishment by a foreign multinational enterprise, using a combined propensity score matching and difference-in-differences estimation. Our empirical analysis is based on plant level data for the UK. From our econometric investigation four broad patterns emerge: (i) any positive impact of ownership change is predominantly due to change in technical efficiency, not scale effects (ii) the pre-acquisition TFP level of the erstwhile domestic plants play a role - positive or negative - in mediating the rate of technology transfer from the MNE parent companies, (iii) the productivity growth effects are not confined to the year of acquisition, and tend to persist through time. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Multinational enterprises Acquisitions Productivity Technical efficiency Scale |
| URL | https://cepr.org/publications/dp5827 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534668 |
| 推荐引用方式 GB/T 7714 | Thomas Gehrig,Caroline Fohlin. DP5827 Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange, 1880-1910. 2006. |
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