Globalization of R&D by US-based multinational enterprises |
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| Authors: | Prema-chandra Athukorala Archanun Kohpaiboon |
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| Institution: | aArndt-Corden Division of Economics, College of Asia and The Pacific, Australian National University, Australia;bFaculty of Economics, Thammasat University, Thailand |
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| Abstract: | This paper examines patterns and determinants of overseas R&D investment by US-based manufacturing MNEs using a new panel dataset over the period 1990–2004. The analysis reveals that R&D intensity of operation of US MNE affiliates is determined mainly by the domestic market size, overall R&D capability and cost of hiring R&D personnel. There is no evidence to suggest that R&D specific incentives have a significant impact on inter-country differences in R&D intensity when controlled for other relevant variables. Overall, our findings cast doubts on the efficacy of efforts by host country governments to entice MNE affiliates to engage in domestic R&D activity, in a context where R&D is becoming a truly global activity. |
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| Keywords: | JEL classification: F21 O19 O32 |
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