Quantifying the Productivity Gains from Foreign Investment
Sebnem Kalemli-Ozcan, Bent Sorensen, Vadym Volosovych, Carolina Villegas-Sanchez, and Christian Fons-Rosen ,
NBER working paper 18920

We quantify the causal effect of foreign investment on total factor productivity (TFP) using a new global firm-level database. Our identification strategy relies on exploiting the difference in the amount of foreign investment by financial and industrial investors and simultaneously controlling for unobservable firm and country-sector-year factors.

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