Regional disparities, firm heterogeneity, and the activity of Japanese manufacturing multinationals in India
Regional disparities, firm heterogeneity, and the activity of Japanese manufacturing multinationals in India
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DOI：
10.1111/1468-0106.12384
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发表时间：
2022-01
影响因子：
1.5
通讯作者：
Hiroyuki Nishiyama;Azusa Fujimori;Takahiro Sato
中科院分区：
文献类型：
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作者：
Hiroyuki Nishiyama;Azusa Fujimori;Takahiro Sato
本文从理论和实证两个方面剖析了国家/地区特征与日本在印度的跨国企业活动之间的联系。本文构建了一个包含FDI和汇率的南北企业异质性模型。我们使用这个模型做出三个贡献：首先，我们从理论上揭示了国家特性如何影响公司在东道国的平均销售额。其次，利用一些有价值的数据库的数据，明确了印度三个主要工业化地区的州级特征。第三，我们估计每个日本子公司在印度的平均销售额的决定因素，侧重于区域特征，在理论部分使用企业层面的数据。并构造了几个州平均销售额决定因素的代理变量，将其代入估计的回归方程。本文的实证分析对象为20世纪90年代和21世纪初。在此期间，印度经济稳步增长，这与外国直接投资流入和跨国公司技术溢出的增加有关。我们发现，一些地区的特点，如人力资本或运输成本在每个国家的水平，汇率有显着的影响，每个日本在印度的子公司的平均销售额。
This paper anatomizes the linkage between country/region characteristics and Japanese MNE activity in India from both theoretical and empirical sides. We construct a North-South firm-heterogeneity model with FDI and exchange rate. We use this model to make three contributions: First, we theoretically reveal how country characteristics affect the average sales of the firm in the host country. Secondly, we make clear the state-level characteristics on three main industrialized areas in India using the data from some valuable databases. Thirdly, we estimate determinant factors of average sales of each Japanese affiliate firms in India focusing on regional characteristics derived in the theoretical part using firm-level data. We also construct several proxy variables of determinant factors of average sales in state-level and put into estimated regression equation. This empirical analysis targets at the 1990s and 2000s. Over this period, India enjoyed steady economic growth and it can be linked with increase of FDI inflow and technological spillover from MNEs. We find out that some regional characteristics such as level of human-capital or transportation cost in each state and also exchange rate have a significant effect on average sales of each Japanese affiliate firms in India.