A multilateral network perspective on inward FDI

IF 8.6 1区 管理学 Q1 BUSINESS Journal of International Business Studies Pub Date : 2023-10-21 DOI:10.1057/s41267-023-00650-x
Soni Jha, Snehal Awate, Ram Mudambi
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Abstract

Foreign direct investment (FDI) remains a preferred mode for multinational enterprises to access international markets, resources, and technology. However, there are vigorous debates in the academic literature about the magnitude of inward FDI spillovers and their effect on the economic growth of host countries. In this paper, we argue that these empirical inconsistencies arise from the narrow “home-host” bilateral context in which inward FDI spillovers are analyzed. Further, we show that the inconsistencies can be resolved by adopting a broader, multilateral network perspective to estimate the effects of inward FDI. This perspective allows us to account for the differences in inward FDI spillovers from different investing countries and aggregate these to assess the overall impact of inward FDI. We use quantitative network-centric analysis to model the multilateral connectivity amongst nations engendered by inward FDI. Specifically, we use a panel data set of over 200 host countries spanning two decades to demonstrate that (a) the diversity of inward FDI measured by the number of investing countries and (b) the quality of inward FDI measured by the structural position of investing countries in the global inward FDI network is correlated with higher economic growth of host countries.

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从多边网络角度看外国直接投资
外国直接投资(FDI)仍然是跨国企业获得国际市场、资源和技术的首选模式。然而,关于外国直接投资流入溢出的规模及其对东道国经济增长的影响,学术文献中存在激烈的争论。在本文中,我们认为,这些经验上的不一致源于狭隘的“主场-东道主”双边背景,在这种背景下,对外来FDI溢出进行了分析。此外,我们表明,这种不一致可以通过采用更广泛的多边网络视角来估计外国直接投资的影响来解决。这一视角使我们能够解释来自不同投资国的外国直接投资流入溢出效应的差异,并将这些差异汇总起来,以评估外国直接投资流入的总体影响。我们使用定量的以网络为中心的分析来模拟由外国直接投资产生的国家之间的多边连通性。具体来说,我们使用跨越二十年的200多个东道国的面板数据集来证明(a)由投资国数量衡量的流入FDI的多样性和(b)由投资国在全球流入FDI网络中的结构地位衡量的流入FDI的质量与东道国较高的经济增长相关。
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来源期刊
CiteScore
16.20
自引率
10.30%
发文量
84
期刊介绍: The Selection Committee for the JIBS Decade Award is pleased to announce that the 2023 award will be presented to Anthony Goerzen, Christian Geisler Asmussen, and Bo Bernhard Nielsen for their article titled "Global cities and multinational enterprise location strategy," published in JIBS in 2013 (volume 44, issue 5, pages 427-450). The prestigious JIBS Decade Award, sponsored by Palgrave Macmillan, recognizes the most influential paper published in the Journal of International Business Studies from a decade earlier. The award will be presented at the annual AIB conference. To be eligible for the JIBS Decade Award, an article must be one of the top five most cited papers published in JIBS for the respective year. The Selection Committee for this year included Kaz Asakawa, Jeremy Clegg, Catherine Welch, and Rosalie L. Tung, serving as the Committee Chair and JIBS Editor-in-Chief, all from distinguished universities around the world.
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