The Effects of Technology Gap between FDI firms and Domestic Firms on the Technology Spillovers
0
조회
0
다운로드
1
인용
0
참고문헌
키워드
초록
The studies on the technology spillover of FDI firms show inconsistent results, which may be because of the different technology absorption capacity of enterprises. This paper used firm-level data of manufacturing industry in Korea from 2005-2014, which were derived from the Korea Information Service Financial Analysis System (KIS-FAS) database. In order to study whether the impact of FDI technology spillover on productivity depends on the absorptive capacity. Technology gap between domestic firms and FDI firms is used as a proxy variable for absorptive capacity. When we assume the linear relationship between the gap and spillovers, it appears that the weaker the absorptive capacity, the smaller the impact of FDI on technology spillovers. However, the results of the quadratic model analysis show that the interaction term of absorptive with technology spillovers have an inverted U-shape relationship to the TFP. This result seems that there could exist a certain extent appropriate level of gap. If the gap is too large or too low, technology spillover would not be quite large.
Abstract
The studies on the technology spillover of FDI firms show inconsistent results, which may be because of the different technology absorption capacity of enterprises. This paper used firm-level data of manufacturing industry in Korea from 2005-2014, which were derived from the Korea Information Service Financial Analysis System (KIS-FAS) database. In order to study whether the impact of FDI technology spillover on productivity depends on the absorptive capacity. Technology gap between domestic firms and FDI firms is used as a proxy variable for absorptive capacity. When we assume the linear relationship between the gap and spillovers, it appears that the weaker the absorptive capacity, the smaller the impact of FDI on technology spillovers. However, the results of the quadratic model analysis show that the interaction term of absorptive with technology spillovers have an inverted U-shape relationship to the TFP. This result seems that there could exist a certain extent appropriate level of gap. If the gap is too large or too low, technology spillover would not be quite large.
참고문헌 (32)
- Aitken, B. J., "Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela", American Economic Review, 89(3), pp.605~618 (1999)
- Barrios, S., "Foreign Direct Investment and Productivity Spillovers: Evidence from the Spanish Experience", Weltwirtschaftliches Archiv, 138(3), pp.459~481 (2002)
- Smruti Ranjan Behera, "DO DOMESTIC FIRMS REALLY BENEFIT FROM FOREIGN DIRECT INVESTMENT? THE ROLE OF HORIZONTAL AND VERTICAL SPILLOVERS AND ABSORPTIVE CAPACITY", Journal of Economic Development, 40(2), pp.57~86 (2015), 경제연구소[DOI]
- Blalock, G., "How Firm Capabilities Affect who Benefits from Foreign Technology", Journal of Development Economics, 90(2), pp.192~199 (2009)
- Brandt, L., "Creative Accounting or Creative Destruction? Firm-level Productivity Growth in Chinese Manufacturing", Journal of Development Economics, 97(2), pp.339~351 (2012)
- Cohen, W. M., "Absorptive Capacity: A New Perspective on Learning and Innovation", Administrative Science Quarterly, 35(1), pp.128~152 (1990)
- Cohen, W. M., "Innovation and learning: the two faces of R&D", Economic Journal, 99, pp.569~596 (1989)
- Damijan, J. P., "Impact of Firm Heterogeneity on Direct and Spillover Effects of FDI: Micro-evidence from Ten Transition Countries", Journal of Comparative Economics, 41(3), pp.895~922 (2013)
- Foreign Firm Characteristics, Absorptive Capacity and the Institutional Framework, "Farole, T.", ~, pp.Policy Research Working Paper No. 6265 (2012)
- Findlay, R., "Relative Backwardness, Direct Foreign Investment, and the Transfer of Technology: A Simple Dynamic Model", The Quarterly Journal of Economics, 92(1), pp.1~16 (1978)
- Girma, S., "Who Benefits from Foreign Direct Investment in the UK?", Scottish Journal of Political Economy, 48(2), pp.119~133 (2001)
- Girma, S., "The Role of the Efficiency Gap for Spillovers from FDI: Evidence from the UK Electronics and Engineering Sectors", Open Economies Review, 18(2), pp.215~232 (2007)
- Regional Underdevelopment: is FDI the Solution? A Semiparametric Analysis, "Girma, S.", ~ (2001)
- Girma, S., "Absorptive Capacity and Productivity Spillovers from FDI: a Threshold Regression Analysis", Oxford bulletin of Economics and Statistics, 67(3), pp.281~306 (2005)
- Glass, A. J., "International Technology Transfer and the Technology gap", Journal of Development Economics, 55(2), pp.369~398 (1998)
- 한진희, "Learning-by-exporting and Plant Characteristics: Evidence from Korean Plant-level Data", Korea and the World Economy, 11(3), pp.459~492 (2010), 한국경제연구학회
- Haskel, J. E., "Does Inward Foreign Direct Investment Boost the Productivity of Domestic Firms?", The Review of Economics and Statistics, 89(3), pp.482~496 (2007)
- Hovhannisyan, N., "Technology Gap and International Knowledge Transfer: New Evidence from the Operations of Multinational Corporations" (2015)
- Javorcik, Smarzynska B., "Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages", American Economic Review, 94(3), pp.605~627 (2004)
- 정미경, "중간재 기업의 기술흡수 능력이 최종재 기업의 국제 기술이전 전략 및 사회후생에 미치는 효과 분석", 국제경제연구, 20(1), pp.71~96 (2014), 한국국제경제학회[DOI]
- 김홍기, "우리나라에서 외국인 및 해외직접투자가 생산성에 미치는 효과: 제조업 산업별 패널자료 활용", 한국경제연구, 28(2), pp.145~170 (2010), 한국경제연구학회
- R&D and Technology Spillovers via FDI: Innovation and Absorptive Capacity, "Kinoshita, Y.", U. of Michigan, ~, pp.Davidson Institute Working Paper Series 349 (2000)
- Koenker, R., "Regression Quantiles", Econometrica, 46, pp.107~112 (1978)
- Koenker, R., "Quantile Regression for Longitudinal Data", Journal of Multivariate Analysis, 91, pp.74~89 (2004)
- Kokko, A., "Technology, Market Characteristics, and Spillovers", Journal of Development Economics, 43, pp.279~293 (1994)
- Kokko, A., "Local Technological Capability and Productivity Spillovers from FDI in the Uruguayan Manufacturing Sector", Journal of Development Studies, 32, pp.602~611 (1996)
- Le, H. Q., "Technology Spillovers from Foreign Direct Investment in Vietnam: Horizontal or Vertical Spillovers?", Journal of the Asia Pacific Economy, 16(2), pp.183~201 (2011)
- Levinsohn J., "Estimating Production Functions Using Inputs to Control for Unobservables", The Review of Economic Studies, 70(2), pp.317~341 (2003)
- Olley G.S., "The Dynamics of Productivity in the Telecommunications Equipment Industry", Econometrica, 64(6), pp.1263~1297 (1996)
- Silajdzic, S., "Knowledge Spillovers, Absorptive Capacities and the Impact of FDI on Economic Growth: Empirical Evidence from Transition Economies", Procedia-Social and Behavioral Sciences, 195, pp.614~623 (2015)
- Sjöholm, Fredrik, "Technology Gap, Competition and Spillovers from Direct Foreign Investment: Evidence from Establishment Data", The Journal of Development Studies, 36(1), pp.53~73 (1999)
- 우챠오, "總要素生産性을 이용한 FDI 技術波及效果 분석: 한국 제조업 데이터를 이용하여", 국제통상연구, 22(1), pp.25~58 (2017), 한국국제통상학회