FDI in Services - Any Spillover Effects on Manufacturing Productivity?
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This paper explores the effects of FDI in the services sector on manufacturing productivity, using Korean data. The study finds that despite considerable liberalization of the services sector during the 1990s and substantial increase of FDI in finance and business services since the crisis, the productivity spillover effect through forward linkages is not yet significant. The low level of services input into manufacturing is the most likely reason explaining the lack of significant spillover effect. This suggests that independent expansion of those industries that tend to use services intensively may stimulate development of the services-input sector, and also encourage inter-sectoral productivity spillovers to occur.
Abstract
This paper explores the effects of FDI in the services sector on manufacturing productivity, using Korean data. The study finds that despite considerable liberalization of the services sector during the 1990s and substantial increase of FDI in finance and business services since the crisis, the productivity spillover effect through forward linkages is not yet significant. The low level of services input into manufacturing is the most likely reason explaining the lack of significant spillover effect. This suggests that independent expansion of those industries that tend to use services intensively may stimulate development of the services-input sector, and also encourage inter-sectoral productivity spillovers to occur.
참고문헌 (20)
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