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http://hdl.handle.net/10419/4053
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| Title: | | Does foreign direct investment promote regional development in developed countries? A Markov chain approach for US states  |
| Authors: | | Bode, Eckhardt Nunnenkamp, Peter |
| Issue Date: | | 2007 |
| Citation: | | [Series:] Kiel working paper [Editor:] Institut für Weltwirtschaft, Kiel [No.:] 1374 |
| Series/Report no.: | | Kieler Arbeitspapiere 1374 |
| Abstract: | | This paper investigates the effects of inward FDI on per-capita income and growth of the US states since the mid-1970s. Using a Markov chain approach, it shows that both quantitative and qualitative characteristics of FDI affect per-capita income and growth. Employment-intensive FDI, concentrated in richer states, has been conducive to income growth, while capital-intensive FDI, concentrated in poorer states, has not. FDI has consequently tended to slow down rather than foster income convergence among US states. It appears to be less important whether FDI has been undertaken in the manufacturing sector of US states or in other sectors. |
| Subjects: | | Markov transition probability Likelihood ratio test FDI Per-capita income Regional development United States of America |
| JEL: | | O18 O51 F23 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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