دانلود رایگان مقاله وابستگان خارجی پیشرفت تکنولوژیکی رشد بهره وری شواهد کشور نفتی MENA

Abstract

Previous studies on Middle East and North Africa (MENA) countries have not investigated the hypothesis that foreign affiliates yield positive productivity spillovers for host countries. This study contributes to the empirical literature by investigating foreign direct investment (FDI) as a channel of productivity growth in MENA oil and non-oil-producing countries. To illustrate the link between FDI, technological catch-up, and host-country labor productivity growth, we present a simple theoretical model. Using a cross-sectionally correlated and timewise autoregressive (CCTA) model, our panel data regression results show that FDI spillovers are insignificant in oil and non-oil-producing countries during the period 1992–2008, whereas technological catch-up significantly affects labor productivity growth in these countries. Two aspects can explain these results. First, local firms' competitive capabilities in MENA countries are relatively weak. Second, most FDIs to oil and non-oil-producing countries are low-quality FDI, which flows to extractive and natural resource-based sectors.

6. Conclusion and policy implications

This study investigates the ability of MENA countries to benefit from productivity spillovers from FDI. This goal is achieved through two stages. In the first stage, empirical literature and theoretical approaches on spillovers from FDI are reviewed. In the second stage, we estimate the panel data regression models to test the impact of FDI on productivity. Our results showed that FDI productivity spillovers in MENA countries seem insignificant. This result may arise for two reasons. First, the technological capabilities of local firms are very weak in all MENA countries. This weakness may lead to negative spillovers from FDI and prevent MENA countries from obtaining benefits from the technology diffusion from FDI. Second, most FDI inflows to MENA region goes to sectors (e.g., natural resources) that are less relevant to technology transfer than the manufacturing sector is. In consequence, governments in MENA and other developing countries should focus on improving the technological capabilities of local firms and deepen the linkages between local firms and foreign affiliates (Elmawazini, Manga, & Saadi, 2008). Governments should also increase their spending on R&D and innovation activities, which may increase the level of technological capacity in MENA countries. Elmawazini (2010) found that host-country R&D spending could significantly increase the magnitude of technology spillovers from FDI. This study has three implications for foreign affiliates. First, the growing technology gap between MENA and OECD countries may lead to negative technology spillovers stemming from the difference in capabilities between foreign affiliates and local competitors (Aitken & Harrison, 1999).