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Foreign Investment as a Vehicle for International Technology Transfer

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Creation and Transfer of Knowledge

Abstract

Economic theory provides two approaches to studying the effects of foreign direct investment (FDI) on host countries. One is rooted in the standard theory of international trade and dates back to MacDougall (1960).This is a partial equilibrium comparative-static approach intended to examine how marginal increments in investment from abroad are distributed. The main prediction of the model is that inflows of foreign capital — whether in the form of FDI or portfolio capital — will raise the marginal product of labor and reduce the marginal product of capital in the host country. In addition, MacDougall suggests that FDI may be connected to other potentially important benefits:

This paper was written as part of a research project on Regionalism and Development managed by the International Trade Division of the World Bank. We would like to thank Adam Jaffee, Robert E. Lipsey, Maurice Schiff, and Alan L. Winters, for valuable comments on earlier versions of the paper, and the World Bank and HSFR for financial support.

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  1. Stockholm School of Economics, Stockholm, Sweden

    Magnus Blomström & Ari Kokko

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  1. Magnus Blomström
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  1. Department of Economics Faculty of Political Science, University of Milan, Via Conservatorio 7, I-20122, Milan, Italy

    Giorgio Barba Navaretti

  2. Faculty of Economics, University of Cambridge, Sidgwick Ave., CB3 9DE, Cambridge, England

    Partha Dasgupta

  3. The Beijer International Institute of Ecological Economics, The Royal Swedish Academy of Sciences, P.O. Box 50005, S-10405, Stockholm, Sweden

    Karl-Göran Mäler

  4. Department of Economics Faculty of Economics and Commerce, University of Turin, Corso Unione Sovietica 218 bis, I-10134, Turin, Italy

    Domenico Siniscalco

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Blomström, M., Kokko, A. (1998). Foreign Investment as a Vehicle for International Technology Transfer. In: Navaretti, G.B., Dasgupta, P., Mäler, KG., Siniscalco, D. (eds) Creation and Transfer of Knowledge. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-03738-6_14

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