FDI has received surprisingly little attention in theoretical and empirical work on openness and growth. This paper presents a theoretical growth model where MNCs directly affect the endogenous growth rate via technological spillovers. This is novel since other endogenous growth models with...

No abstract.

This paper describes how large, typically multi-technology corporations build up and exploit their technological capability by purchasing small, technology-based firms in order to acquire their technology. The frequency, possible causes and economic effects of this phenomenon are elaborated,...