Subsidy competition and the mode of FDI

被引：13

作者：

Albornoz, Facundo ^{[1
]}

Corcos, Gregory ^{[2
]}

Kendall, Toby ^{[1
]}

机构：

[1] Univ Birmingham, Dept Econ, Birmingham B15 2TT, W Midlands, England

[2] Norwegian Sch Econ & Business Adm, Dept Econ, Bergen, Norway

来源：

REGIONAL SCIENCE AND URBAN ECONOMICS | 2009年 / 39卷 / 04期

关键词：

Subsidy competition; FDI; Greenfield investment; Mergers and acquisitions; Regional integration; Positive externalities; CROSS-BORDER MERGERS; FOREIGN DIRECT-INVESTMENT; ECONOMIC-INTEGRATION; PROFITABILITY; WELFARE;

D O I：

10.1016/j.regsciurbeco.2009.02.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We model subsidy competition for a foreign MNC's investment in two trading partners. Taking into account acquisitions as an alternative investment mode weakens the case for subsidising greenfield investment. Competition between countries results in welfare losses. which are reinforced by positive externalities from the MNC's presence and regional integration. The results also apply to situations where the acquisition price accounts for the possibility of subsidies and when governments use acquisition subsidies as an alternative to greenfield subsidies. (C) 2009 Elsevier B.V. All rights reserved.

引用

页码：489 / 501

页数：13

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