Corporate Growth and FDI: Are Multinationals Stimulating Local Industrial Development?

Helen Louri and Georgios Fotopoulos

No 3128, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The aim of this Paper is to improve our understanding of the empirical determinants of corporate growth by extending the literature to include a new group of variables related to FDI, namely the degree of foreign ownership and technology spillovers. Based on recent developments in the field, our analysis takes also into account the role of sunk costs and financial structure, while quantile regression techniques as more suitable to the data available (2640 manufacturing firms operating in Greece in the 1992-97 period) are used. Our findings highlight the role of multinationals in increasing corporate growth with varying intensity depending on industry groups and regression quantiles, and vindicate the use of new variables.

Keywords: Corporate growth; Multinational firms; Spillovers; Quantile regression (search for similar items in EconPapers)
JEL-codes: F23 L11 (search for similar items in EconPapers)
Date: 2002-01
New Economics Papers: this item is included in nep-ifn
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Citations: View citations in EconPapers (15)

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