"Revised July 2008" Includes bibliographical references (p. 33-34).
Summary:
In this paper, we extend the growth model to include firm-specific technology capital and use it to assess the gains from opening to foreign direct investment. A firm's technology capital is its unique know-how from investing in research and development, brands, and organization capital. What distinguishes technology capital from other forms of capital is the fact that a firm can use it simultaneously in multiple domestic and foreign locations. A country can exploit foreign technology capital by permitting direct investment by foreign multinationals. In both steady-state and transitional analyses, the extended growth model predicts large gains to being open.
Series:
Staff report / Federal Reserve Bank of Minneapolis, Reseach Dept. ; 396
OCLC:
(OCoLC)237051601
Locations:
USUX851 -- Iowa State University - Parks Library (Ames)
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.