Does foreign ownership matter?

Abstract

The paper both compares productivity of Russian firms that have foreign direct investments with productivity of fully domestically owned firms and analyses spillovers from foreign-owned firms to domestic firms. Foreign firms are found to be more productive than domestic ones, but productivity of the former is negatively affected by slow progress of reforms in the regions where they operate. It is also found that there are positive spillovers from foreign-owned firms to domestic firms in the same industry, but negative effects on domestic firms that are vertically related to foreign-owned firms. The stock of human capital in regions where foreign firms operate is one of the factors which help domestic firms to benefit from the entry of foreign firms.JEL classifications: F2, O3.

Effects of Foreign Presence in a Transition Economy: Regional and Industrywide Investments and Firm-Level Exports in Ukrainian Manufacturing

“…6 Within higher aggregated industrial data as we 5 Some preliminary evidence for Russia has also been presented in working papers by Ponomareva (2000) and by Yudaeva et al (2001). 6 FDI-induced backward and forward linkages can push industrial development, especially with regard to the formation of small businesses.…”

Foreign direct investment and regional economic development in Russia: an econometric assessment

“…On the other hand, many microeconomic studies, represented by Brown and Earle (2000) and Yudaeva et al (2003), could verify the effects of foreign ownership and productivity spillovers from foreign companies to domestic firms. In recent years, however, as the Rosstat has sharply restricted access by outsiders (even for academic purposes) to individual sets of data that form the basis of the official statistics, the possibility of firm-level empirical analyses using the official data has become 6 The Russian Federation is comprised of 83 constituent entities.…”

“…Moreover, although several microeconomic studies, including Brown and Earle (2000) and Yudaeva et al (2003), verified the significant and positive effects of FDI in Russia, such a firmlevel empirical analysis has become extremely difficult due to current strong restrictions on access to the official data. In order to overcome these research shortcomings and restraints, we empirically examine the effect of FDI on TFP by using unique panel data of 71 Russian regions, paying special attention to the investment boom in 2003 and onward, as well as to the significant 2 According to the official data published by the Russian statistical office (http://www.gks.ru/), real GDP grew by 4.3% in 2011 and by 3.4% in 2012, recording a similar level in 2010.…”

30 anos de investigação sobre externalidades do IDE para as empresas nacionais: que conclusões?

“…Por outro lado, tem sido defendida a existência de uma dimensão regional/local na ocorrência de externalidades, de tal forma que seriam as empresas nacionais geograficamente mais próximas das EM as que se beneficiariam de modo mais significativo. A análise empírica desenvolvida em relação a estes dois fatores confere um sólido suporte ao primeiro argumento (Kinoshita, 2001;Schoors e van der Tol, 2002;Kanturia, 2002;Keller e Yeaple, 2003;Girma, 2003;Karpaty e Lundberg, 2004), mas é mais ambígua no que se refere ao segundo fator (Sjöholm, 1999b;Aitken e Harrison,1999;Girma e Wakelin, 2000;Girma, 2003;Yudaeva et al, 2003;Torlak, 2004).…”