Agglomeration in FDI is typically attributed to location-specific characteristics such as natural resource advantages or production related spillovers between multinational firms. The increasing collocation of the largest global firms in the cement industry since the 1980s is not easily...

This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting...

"This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting...