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Tuesday, February 11, 2020 | History

4 edition of Productivity convergence and foreign ownership at the establishment level found in the catalog.

Productivity convergence and foreign ownership at the establishment level

Rachel Griffith

Productivity convergence and foreign ownership at the establishment level

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  • 18 Currently reading

Published by Centre for Economic Performance, London School of Economics and Political Science in [London] .
Written in English

    Subjects:
  • Industrial productivity.,
  • Investments, Foreign.,
  • Technology transfer.,
  • Convergence (Economics)

  • Edition Notes

    StatementRachel Griffith, Stephen Redding, Helen Simpson.
    SeriesDiscussion paper ;, no. 573, Discussion paper (London School of Economics and Political Science. Centre for Economic Performance : Online) ;, no. 573.
    ContributionsRedding, Stephen., Simpson, Helen, 1974-, London School of Economics and Political Science. Centre for Economic Performance.
    Classifications
    LC ClassificationsHC10
    The Physical Object
    FormatElectronic resource
    ID Numbers
    Open LibraryOL3475650M
    LC Control Number2005615043

    General contact details of provider:. Their origin could be also in a post-colonial situation, in a heavily regulated Asian-style economyin a Latin American post-dictatorship, or even in a somehow economically underdeveloped country in Africa. Aghion, Angeletos [26] have shown that this last aspect is particularly true in countries with low levels of financial development. Increased competition between firms encourages innovations.

    For him the answer was straightforward: capital accumulation is the driving force behind both labour productivity and standards of living convergence. With monetary policy directed at maintaining a stable exchange rate and controlling inflation, fiscal policy has been the primary instrument to achieve other economic objectives, including growth, employment, and equity. Consequently, worker bonuses were adopted widely and rapidly in SOEs as a major component of employee compensation to boost incentives. Starks, Laura, and Kelsey Wei, We describe our sample and the construction of key variables in Section II. Trade openness can contribute to accelerating TFP by promoting the competitiveness of domestic producers and accelerating the integration of countries into the global economy.

    Currency return A-T,t The difference in annual real bilateral U. This classification leads us to distinguish different types of international deals and separately examine drivers of each deal type. Finally, it should be noted that since the FDI variable is suspected of endogeneity, the introduction of any interactive variable involving FDI makes this new variable endogenous. Finally, using country-level data, we show that owner domicile and type of the largest firms in the target firm country is significantly associated with the likelihood of international deals occurring in the target country in the same way as we observe at the deal level.


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Productivity convergence and foreign ownership at the establishment level book

Their origin could be also in a post-colonial situation, in a heavily regulated Asian-style economyin a Latin American post-dictatorship, or even in a somehow economically underdeveloped country in Africa.

In fact, the FDI can be a source of technology transfer, strengthening the workforce through managerial skills and other externalities that benefit the host economies by increasing the total factor productivity. Once we interact the type of target owners with their domicile, we show that compared to the baseline case of dispersedly-owned target firms, target firms with any type of foreign ownership are positively and significantly associated with the share of international deals.

Price liberalization, small-scale privatization and the opening-up of trade and foreign exchange markets were mostly complete by the end of the s. However, BEA's alleged sustained pace of capital growth seems hard to reconcile with the falling private investment and savings since the mids right chart below.

Corporate Ownership and International Mergers and Acquisitions*

It is therefore necessary to estimate our Equation 2 using the two-stage least squares method, as the OLS method may substantively bias our results. Lin and Zhu 37 Using data set of 2, corporatized SOEs inpresent the profile of corporatization process and organizational features; examine how the corporatization process was shaped by various factors.

In fact, despite those market measures introduced since the end of thes, including the expanded autonomy, the use of incentives and contracts, and corporatization, the financial performance of SOEs has been increasingly deteriorating since the early s.

Second, these financial owners are controlling shareholders, so their presence addresses the free-rider problem typical in private firms with many shareholders Grossman and Hartand Shleifer and Vishny Google Scholar Sabirianova, K.

GCC countries are highly dependent on a large expatriate labor force, reflecting the small but rapidly growing size of the domestic workforce and the limited domestic supply of adequate skills.

Oman The power sector is at the forefront of privatization efforts, with three power plants now under construction by foreign investors under a build-own-operate basis. On the other hand, among the traditionally defined cross-border deals i.

There are, however, important differences among the GCC countries. Indeed, while FDI can broadly be a source of technology transfer and economic growth, it is also plausible that FDI itself will be determined to a large extent by the TFP growth. In addition, we have averaged the data over the period because we plan to work in cross-sections.

We also present statistics on geographic and sociological proximity measures, as well as on our proxies for cultural distance. People have different skills and preferences, so the free market does not lead to a complete equalization of incomes and wealth.

Oman has also recently privatized the management of airport services. Siegel et al. We distinguish target firms with dispersed ownership from those that have controlling blockholders— ultimate owners. Table 4 Panel A presents the linear probability model regression results.We examine the effects of an important technology diffusion channel—foreign direct investment (FDI)—on the growth of total factor productivity (TFP) and the role played by natural resources in this relationship.

Transition economy

Based on cross-sectional data from 71 developing countries, we found that the net effect of FDI on TFP growth decreases with rents provided by natural atlasbowling.com by: 1.

May 22,  · The cut‑off date for the statistics included in this Convergence Report was 3 May The statistical data used in the application of the convergence criteria were provided by the European Commission (see Chapter 6 as well as the tables and charts), in cooperation with the ECB in the case of exchange rates and long‑term interest rates.

CORPORATE GOVERNANCE: EFFECTS ON FIRM PERFORMANCE AND ECONOMIC GROWTH 1 SUMMARY 1. This document addresses corporate governance and its effect on corporate performance and economic performance. It first recapitulates and builds on previous work undertaken by DSTI, for.

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.

Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. With the fall in lending by commercial banks in the s, many developing countries began offering different fiscal and financial incentives to attract foreign investors.

This willingness to attract FDI stems from the idea that FDI has important positive effects, including technology transfers and. Corporate Ownership and International Mergers and Acquisitions Abstract This paper employs a novel dataset of mergers and acquisitions (M&As) for which we can observe ownership structure of a target firm including the identity of its ultimate owner if there is any, and its country of origin.