Kalemli-Ozcan, Sebnem; Sorensen, Bent E.; Volosovych, Vadym - National Bureau of Economic Research (NBER) - 2013
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 … domestic firms, we calculate the aggregate impact of foreign investment on country-level productivity growth and find it to be …