Name
Abstract | ||
|---|---|---|
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. Technology capital is distinguished from other forms of capital in 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. |
Year | DOI | Venue |
|---|---|---|
2009 | 10.1016/j.jet.2008.05.012 | Journal of Economic Theory |
Keywords | Field | DocType |
F23,F43,O11 | Capital formation,Economic system,Physical capital,Economics,Financial capital,International economics,Capital intensity,Microeconomics,Capital Consumption Allowance,Capital deepening,Fixed capital,Capital employed | Journal |
Volume | Issue | ISSN |
144 | 6 | 0022-0531 |
Citations | PageRank | References |
0 | 0.34 | 0 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Ellen R. McGrattan | 1 | 0 | 0.34 |
| Edward C. Prescott | 2 | 7 | 3.61 |