TESTING A LIFE‐CYCLE HYPOTHESIS OF THE BALANCE‐OF‐PAYMENTS EFFECTS OF MULTINATIONAL CORPORATIONS

Martin Prachowny and J. David Richardson

Economic Inquiry, 1975, vol. 13, issue 1, 81-98

Abstract: This paper proposes one possible determinant of the diversity of experience and behavior of multinational corporations and examines it empirically. The determinant is the “age” of foreign operations or “maturity” of foreign experience. We find empirical support for the proposition that the balance‐of‐payments flows between U.S. manufacturing parents and their foreign affiliates follow a predictable life cycle or sequence. We also find that the lags between “youth” and “full maturity” are perhaps much longer than the existing literature has suggested.

Date: 1975
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https://doi.org/10.1111/j.1465-7295.1975.tb01105.x

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Journal Article: Testing a Life-Cycle Hypothesis of the Balance-of-Payments Effects of Multinational Corporations (1975)
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