Serbia’s New Growth Agenda : FDI Spillovers

Brussevich, Mariya ; Tan, Shawn W.

World Bank, Washington, DC

关键词: ECONOMIC GROWTH;    FOREIGN DIRECT INVESTMENT;    TOTAL FACTOR PRODUCTIVITY;    HERFINDAHL-HIRSCHMAN INDEX;    TECHNOLOGY TRANSFER;   

RP-ID  :  147155

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This note examines the relationshipbetween the presence of foreign firms and total factorproductivity (TFP) growth of domestic firms (called ‘FDI,Foreign Direct Investment, spillovers’) in Serbia over theperiod of 2005-16. The analysis finds evidence of FDIspillovers in Serbia. Domestic firms on average enjoy higherproductivity because of the presence of FDI firms in theeconomy. Moreover, domestic firms that supply to FDI firmsor are located in the same industry as FDI firms, enjoyhigher productivity. This presumably stems from technologytransfer, higher quality standards, or higher competition.However, productivity of domestic firms sourcing fromindustries with a large share of FDI firms find theirproductivity reduced, likely due to markups by foreignfirms. The effect of FDI on productivity of domestic firmsalso varies by firm size and industry. Small firms benefitmore from spillovers associated with backward linkages (whenthey supply to an FDI firm) but are worse off with morehorizontal FDI (when they compete with FDI firms in the sameindustry). Firms in high-tech industries benefit more fromhorizontal and backward FDI spillovers, but firms inlow-tech industries experience no effect. Lastly, firms inthe transport manufacturing industry do not enjoy any FDIspillover from foreign firms in their industry.