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Journal of Banking and Financial Economics


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Potential and Actual FDI Spillovers in Global Value Chains

The Role of Foreign Investor Characteristics, Absorptive Capacity and Transmission Channels

Deborah Winkler

 

ABSTRACT

Using unique survey data on direct supplier-multinational linkages in Chile, Ghana, Kenya, Lesotho, Mozambique, Swaziland, and Vietnam, this paper fi rst evaluates how foreign investors differ from domestic producers in terms of their potential to generate positive spillovers for local suppliers. It finds that foreign firms outperform domestic producers on several indicators, but have fewer linkages with the local economy and offer less supplier assistance, resulting in offsetting effects on the spillover potential. The paper also studies the relationship between foreign investor characteristics and linkages with the local economy as well as assistance extended to local suppliers. It finds that foreign investor characteristics matter for both. Additionally, this paper examines the role of suppliers’ absorptive capacities in determining the intensity of their linkages with multinationals. The results indicate that several supplier characteristics matter, but these effects also depend on the length of the supplier relationship. Finally, the paper assesses whether assistance or requirements from the multinational influence spillovers on suppliers. The results confirm the existence of positive effects of assistance (including technical audits, joint product development, and technology licensing) on foreign
direct investment spillovers, while we find no evidence for demand effects.

 

JEL classification: F1, F2
Keywords: Foreign direct investment, vertical spillovers, linkages, global value chains, foreign firm characteristics, absorptive capacity, transmission channels, agri-business, apparel, mining.

DOI: 10.7172/2353-6845.jbfe.2018.2.1

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JBFE No 1/2018

Journal of Banking and Financial Economics No 1 (9) 2018

 

Contents

 

Determinants of banks’ profitability and efficiency: Empirical evidence from a sample of Banking Systems

Mouna Rekik, Maha Kalai

 

EU banks after the crisis: sinners in the hands of angry markets

Antonio Sánchez Serrano

 

Animal Spirits and Risk in Financial Markets

Jukka Ilomäki

 

Macroprudential Policy Effectiveness: Lessons from Southeastern Europe

Jérôme Vandenbussche, Piyabha Kongsamut, Dilyana Dimova

 

Macroeconomic Stability in Resource-rich Countries: The Role of Fiscal Policy

Elva Bova, Paulo Medas, Tigran Poghosyan

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JBFE No 2/2017

Journal of Banking and Financial Economics No 2 (8) 2017

 

Contents

 

Sovereign Debt Restructurings in Belize: Debt Sustainability and Financial Stability Aspects

Tamon Asonuma, Michael G. Papaioannou, Gerardo Peraza, Kristine Vitola, Takahiro Tsuda

 

Does persistence in idiosyncratic risk proxy return-reversals?

Harmindar B. Nath, Vasilis Sarafidis

 

Mauritius: The Drivers of Growth – Can the Past Be Extended?

Katsiaryna Svirydzenka, Martin Petrib

 

The European system of financial supervision – regulatory impact assessment

Mariusz Szpringer, Włodzimierz Szpringer

 

Assessing Countries’ Financial Inclusion Standing — A New Composite Index

André Mialou, Goran Amidzic, Alexander Massara

 

Bank prudential and bank stability– how far do they go

Gerti Shijaku

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JBFE No 1/2017

Journal of Banking and Financial Economics No 1 (7) 2017

 

Contents

 

Determinants of Banks’ Net Interest Margins in Honduras

Koffie Nassar, Edder Martinez, Anabel Pineda

 

Inflation and Public Debt Reversals in the G7 Countries

Bernardin Akitoby, Ariel Binder, Takuji Komatsuzaki

 

Unstash the Cash! Corporate Governance Reform in Japan

Chie Aoyagi, Giovanni Ganelli

 

Global Thermoeconomics

Mario W. Cardullo, Manhong Mannie Liu

 

An Econometric Analysis for the Bid-Ask Spread in the Emerging Chilean Capital Market

David Cademartori-Rosso, Berta Silva-Palavecinos, Ricardo Campos-Espinoza, Hanns de la Fuente-Mella

 

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