The Nested Variable Model of FDI Spillover Effects: Estimation Using Hungarian Panel Data

Ichiro Iwasaki, P�ter Csizmadia, Miklós Ill�ssy, Csaba Makó and Miklós Szanyi

International Economic Journal, 2012, vol. 26, issue 4, 673-709

Abstract: A new empirical model is presented that considers the productivity spillover effects of foreign direct investment (FDI) by focusing on the multi-layered structure of industrial classifications. In this model, the market presence of horizontal FDI in a host country is expressed using multiple spillover variables with a nested structure corresponding to the aggregated level of industrial classification. Using large-scale firm-level data from Hungary, we estimated the nested variable model and verified horizontal FDI spillover effects that cannot be captured with the conventional model having a single horizontal variable.

Date: 2012
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Working Paper: The Nested Variable Model of FDI Spillover Effects Estimation Using Hungarian Panel Data (2011)
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DOI: 10.1080/10168737.2012.719914

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