Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela
Abstract
Governments often promote inward foreign investment to encourage technology “spillovers” from foreign to domestic firms. Using panel data on Venezuelan plants, we find that foreign equity participation is positively correlated with plant productivity (the “own-plant” effect), but this relationship is only robust for small enterprises. We then test for spillovers from joint ventures to plants with no foreign investment. Foreign investment...
Paper Details
Title
Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela
Published Date
Jun 1, 1999
Journal
Volume
89
Issue
3
Pages
605 - 618
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