Global Fixed Capital Investment by Multinational Firms

被引：7

作者：

Belderbos, Rene ^{[1
,2
]}

Fukao, Kyoji ^{[3
]}

Ito, Keiko ^{[4
]}

Letterie, Wilko ^{[5
]}

机构：

[1] Belgium Maastricht Univ, Katholieke Univ Leuven, Louvain, Belgium

[2] UNU MERIT, Maastricht, Netherlands

[3] Hitotsubashi Univ, Inst Econ Res, Tokyo, Japan

[4] Senshu Univ, Tokyo, Japan

[5] Maastricht Univ, Maastricht, Netherlands

来源：

ECONOMICA | 2013年 / 80卷 / 318期

关键词：

FOREIGN DIRECT-INVESTMENT; LEVEL EVIDENCE; PRODUCTIVITY; ENTERPRISES; EXPORT; FDI; COUNTRIES; NETWORKS; LOCATION; MODEL;

D O I：

10.1111/ecca.12014

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We develop and test a model of the simultaneous determination of global gross fixed capital investments by multinational firms. We integrate a model of multi-product firms choosing optimal manufacturing locations with a model of dynamic investment optimization. Firms adjust capital stocks in each location in accordance with the expected marginal profitability of capital. Analysis of 1504 fixed capital investment decisions by Japanese multinational firms confirms the prediction that investment is determined not only by total factor productivity, effective demand, and wage levels in the host country, but also by wage levels in other countries in which the firm operates.

引用

页码：274 / 299

页数：26

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