Agarwal, Natasha; Milner, Chris; Riaño, Alejandro - Leverhulme Centre for Research on Globalisation and …
This paper provides firm-level evidence on the way in which credit constraints affect FDI spillovers. Using a panel of … lower (even negative) FDI spillovers, with their reduction in the spillover effect being systematically greater in sectors … have lower from FDI spillovers when compared to the stateowned domestic firms. We also show that domestic firms in sectors …