fdi and export performance - indian institute of technology, …外商直接投资与出口绩效的印度技术学院，…

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1、21FOREIGNDIRECTINVESTMENTSPILLOVERSANDEXPORTPERFORMANCE–EVIDENCEFROMINDIANMANUFACTURINGINDUSTRYAFTERLIBERALIZATIONT.J.JosephPostDoctoralFellowatICFAIInstituteforManagementTeachers(IIMT),Hyderabad.V.NagiReddyProfessor,ICFAIInstituteforManagementTeachers(IIMT),Hyderabad.e-mail:tjjoseph@gmail.comAb

2、stractThespilloversfromforeigndirectinvestment(FDI)throughmultinationalenterprises(MNEs)haveattractedconsiderableattentioninrecenttimes.MNEs,withtheirtechnologicalandmanagerialskillsandknowledgeaboutinternationalmarketingconditions,areexpectedtoimprovetheproductivityaswellasexportperformanceofho

3、stcountryfirmsbycreatingcertainpositiveexternalitiesknownas‘spillovers’.SpilloverscantakeplacewhenthepresenceofMNEsimprovestheproductiveefficienciesofdomesticfirms,makingtheirproductsefficientinpriceandqualityintheinternationalmarketandthusimprovingtheirexportperformance.Suchspilloversmayoccurei

4、thertodomesticfirmsinthesameindustrygroupofforeignfirmsthroughcompetition,knownas‘horizontalspillovers’,ortofirmsintheupstreamsupplychainthroughbuyer-supplierlinkages,knownas‘backwardspillovers’.TheexistingempiricalstudiesonFDIspilloverslargelylookattheproductivityenhancingeffectsofsuchspillover

5、s.Thesestudiesmostlyexaminethehorizontalspilloversinthesameindustrysectorofforeignfirmsandignorethepossibilityofspilloversthroughbuyer-supplierorbackwardlinkages.Thepresentstudyexaminestheimpactofhorizontalaswellasbackwardspilloversfromthepresenceofforeignfirmsontheexportperformanceofdomesticfir

6、msinIndianmanufacturingindustryaftertheeconomicliberalizationof1991.UsingrobustregressionestimationmethodsthestudyhasnotfoundanysignificantspillovereffectsfromthepresenceofforeignfirmsontheexportperformanceofdomesticfirmsinIndianmanufacturingindustry.Theresultsalsoindicatethatdomesticfirmsarenot

7、benefitedinimprovingtheirexportperformancethroughanybuyer-supplierlinkageswiththeMNEs.ThestudyshowsthatIndiahasattractedmoredomesticmarketseekingFDIthanexport-orientedone.Keywords:Foreigndirectinvestment,multinationalenterpr