FDI is believed to be a conduit of new technologies between countries. Many have studied the cross-border knowledge diffusion due to outward FDI, but this paper is the first to study the advantages of outward FDI for the home country of multinationals conducting R&D abroad. To address this issue, we use patent citations as a proxy for technology spillovers and we bring empirical evidence that supports the hypothesis that a US subsidiary conducting R&D overseas facilitates the flow of knowledge between its host and home countries.
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Paper provided by Florida International University, Department of Economics in its series Working Papers with number
0516.
Find related papers by JEL classification: O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General O34 - Economic Development, Technological Change, and Growth - - Technological Change - - - Intellectual Property Rights F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
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