意大利对外直接投资与本国就业增长外文原文.pdfVIP

Outward FDI and Local Employment Growth in Italy Stefano Federico and Gaetano Alfredo Minerva Bank of Italy, Rome; University of Bologna Abstract: Using several data sources, we assess the impact of Italy’s outward for- eign direct investment (FDI) on local employment growth between 1996 and 2001 for 12 manufacturing industries and 103 administrative provinces. Our main result is that, controlling for the local industrial structure and area fixed effects, FDI is associated with faster local employment growth, relatively to the national industry average. We also find that employment in small plants is not negatively influenced by higher levels of FDI. Our findings do not support therefore the idea that FDI is detrimental to local employment growth in the home country. JEL no. C21, F21, F23 Keywords: Foreign direct investment; agglomeration; employment growth 1 Introduction As an increasing number of firms choose to move production abroad, the debate on the impact of such strategies on domestic employment has greatly intensified. Relocation, especially in low-wage countries, is often evoked in the public opinion as a major determinant of job losses, at the expenses of unskilled labour. This idea has received support among many politicians in various countries, leading to the draft of measures aimed at imposing Remark: We would like to thank for valuable suggestions an anonymous referee, Giorgio Barba Navaretti, Piero Cipollone, Aldo Goia, Roberto Golinelli, Peter Nunnenkamp, Gian- marco Ottaviano, participants to the 1st Italian Congress of Econometrics and Empir- ical Economics at the University Ca’ Foscari in Venice, the CNR Meeting on International Economics and Development at the University of Urbino, the 2nd Euroframe Conference in Vienna, the ECB/CEPR Labour Marke