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Revisit the Domestic Innovation Effect of Outward FDI in Taiwan: Quantity or Quality?

再探臺灣對外直接投資對國內創新的效果:數量或品質?

Abstracts


This study investigates how outward foreign direct investment (OFDI) influence innovation activity and efficiency in Taiwan. On the basis of a firm-level panel dataset of publicly listed electronics firms for the period 2002-2018, various estimations reveal that OFDI overall has a positive influence on research and development (R&D) expenditure and patent numbers. However, this R&D effect may be adverse across destinations and time periods. Before the late 2000s, the pro-R&D effect existed for OFDI to developing countries only, particularly China, but this R&D effect became negative after the late 2000s. The patent effect of OFDI is also found, particularly the technology sourcing through OFDI to advanced countries. Regarding high-novelty patents measured by inventions, we find that the OFDI in both developing and developed economies indicates a positive relationship with invention grants at home. Further, OFDI also facilitates multinational enterprises' promotion of R&D productivity in patents and high-novelty inventions in particular.

Keywords

Export FDI R&D Patent

Parallel abstracts


本研究探討臺灣的對外直接投資對國內創新活動與效率的影響。利用2002-2018年上市櫃電子業廠商的縱橫資料進行研究,不同的估計結果顯示:整體而言,對外直接投資對國內母公司的研究發展支出與專利數具有正向的影響。然而,對外直接投資的研究效果可能隨投資目的國與不同的時期而異:在2000年代晚期之前,對外直接投資的研發促進效果僅出現在赴開發中國家投資,特別是中國;但此研發效果在2000年代晚期之後變為負向。本文亦發現對外直接投資存在促進專利申請的效果,特別是基於技術取得目的的赴先進國家投資。就高新穎性的發明專利而言,赴開發中與先進國家投資均促使國內母公司取得更多發明專利。再則,對外直接投資也促使母公司在專利的研發生產力有所提升,特別是發明專利。

Parallel keywords

出口 對外直接投資 研究與發展 專利

References


Acemoglu, D., G. Gancia, and F. Zilibotti, 2015, “Offshoring and Directed Technical Change”, American Economic Journal: Macroeconomics, 7: 84-122.
Aghion, P., A. Bergeaud, M. Lequien, and M. J. Melitz, 2018, “The Impact of Exports on Innovation: Theory and Evidence”, NBER Working Paper, No. 24600.
Aghion, P., P. Howitt, M. Brant-Collett, and C. García-Peñalosa, 1998, Endogenous Growth Theory, Cambridge, Massachusetts: MIT Press.
AlAzzawi, S., 2012, “Innovation, Productivity and Foreign Direct Investment-induced R&D Spillovers”, Journal of International Trade & Economic Development, 21: 615-653.
Amighini, A. A. and R. Rabellotti, 2010, “Outward FDI from Developing Country MNEs as a Channel for Technological Catch-up”, Seoul Journal of Economics, 23: 239-261.

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