Towards a technology-seeking explanation of U.S. direct investment in the United Kingdom

John Cantwell, John H. Dunning and Odile E. M. Janne

Journal of International Management, 2004, vol. 10, issue 1, 5-20

Abstract: This article examines the evolution of the industrial structure of local technological development by U.S.-owned multinational enterprises (MNEs) in the United Kingdom in the 1950s and over the more recent period 1969-1995. Using a survey of U.S. subsidiaries in the United Kingdom and more recent data on patents granted in the United States to the largest MNEs, the article illustrates the effect of a shift toward internationally integrated strategies for corporate technological development. The local innovation of MNEs has moved closer to the industries of host country technological advantage, and hence to utilising location-specific capabilities as a source of competitive advantage in the MNE. We interpret this as a shift from an asset-exploiting toward an asset-augmenting form of foreign direct investment (FDI).

Keywords: Corporate; innovation; systems; Foreign; direct; investment; United; Kingdom; United; States (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (7)

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