Department of Agricultural Economics, Kansas State University, Manhattan, KS, United States of America.
Chair of Micro Economics, Friedrich Schiller University, Jena, Germany.
PLoS One. 2024 Mar 8;19(3):e0298913. doi: 10.1371/journal.pone.0298913. eCollection 2024.
Foreign Direct Investment is theoretically expected to facilitate the transfer of knowledge from the home country to the host country, however, the empirical evidence on the subject is mixed. Some studies have shown that, on one hand, as competition grows, the incentive to innovate reduces with the decrease in monopoly rents (Schumpeterian effect). On the other hand, market competition can also boost investments in R&D activities incentivized by incremental profits (Escape-Competition effect). Therefore, this study aims to explore which of these two effects dominates in the selected group of countries. This study also identifies the moderators of the relationship between FDI stock and domestic innovation. It examines the role of absorptive capacity, quality of regulations, and property rights protection in the innovative activities of the host countries. Generalized Method of Moments is used to estimate the parameters of the multivariate regression equation. The analysis is based on panel data consisting of 49 countries over 14 years. The results show that FDI has a negative relationship with domestic innovation, indicating the presence of the Schumpeterian effect. The extensions of the main models show that FDI positively affects domestic innovation in countries with higher absorptive capacity, the superior quality of regulation, and stronger protection of property rights. This study shows that the positive relationship between FDI and domestic innovation is conditional on the ability to absorb knowledge and quality of governance in the recipient countries.
外国直接投资理论上有望促进知识从母国向东道国转移，但关于这一主题的经验证据存在分歧。一些研究表明，一方面，随着竞争的加剧，垄断租金的减少会降低创新的动力（熊彼特效应）。另一方面，市场竞争也可以通过激励增量利润的研发活动投资来促进（逃避竞争效应）。因此，本研究旨在探讨在所选国家组中哪种效应占主导地位。本研究还确定了 FDI 存量与国内创新之间关系的调节变量。它考察了吸收能力、监管质量和产权保护在东道国创新活动中的作用。使用广义矩方法估计多元回归方程的参数。该分析基于由 14 年 49 个国家组成的面板数据。结果表明，FDI 与国内创新呈负相关，表明存在熊彼特效应。对主要模型的扩展表明，在吸收能力更高、监管质量更好、产权保护更强的国家，FDI 会对国内创新产生积极影响。本研究表明，FDI 与国内创新之间的积极关系取决于受援国吸收知识的能力和治理质量。
