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Endogenous R&D and foreign direct investment in international oligopolies |
Maria-Luisa Petit and Francesca Sanna-Randaccio |
International
Journal of Industrial Organization 2000 |
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Multinational firms not only control world trade and FDI but also play a major role in the development and diffusion of technology. This paper examines the impact of the firms¡¦ mode of foreign expansion on the incentive to innovate as well as the effects of R&D activities and technological spillovers on the firm¡¦s international strategy. In addition, the welfare implications also be discussed. |
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This paper considers a two country imperfect competition model where the firms face three different type of decisions: how to expand abroad, how much to spend on R&D and how much to sell in each market. (1) The impact of market structure on the incentive to innovation. ¡´ A positive relationship between multinational expansion and R&D investment. ¡´ The level of R&D is higher if the firms are MNEs rather than exporter. (2) The effect of R&D activities and technological spillovers on the MNE¡¦s entry mode. ¡´
Investment in research
increases the likelihood of multinational. ¡´
A high value of spillover
parameter tends to discourage multinational expansion. (3) The welfare implications of different market configurations l
Consumer
welfare is higher in both countries when the firms are MNEs
instead of exports. |
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