外商直接投资能否带来溢出效应？外文翻译.docVIP

外商直接投资能否带来溢出效应？外文翻译 外文翻译 原文 Are there positive spillovers from direct foreign investment? Material Source:Journal of Development Economics 421993 51-74 Author: Mona Haddad , Ann Harrison Many developing countries now actively solicit foreign investment, offering income tax holidays,import duty exemptions?and subsidies to foreign firms. One reason for subsidizing these firms is the positive spillover from transferring technology to domestic firms. This paper employs a unique firm-level dataset to test for such spillovers in the Moroccan manufacturing sector. We find evidence that the dispersion of productivity is smaller in sectors with more foreign firms. However, we reject the hypothesis that foreign presence accelerated productivity growth in domestic firms during the second half of the 1980s. Using detailed information on quotas and tariffs, we also reject the possibility of a downward bias in estimating technology spillovers because foreign investors may be attracted to protected domestic markets 1. Introductiou The disappearance of non-equity sources of foreign capital in the 1980s has created a renewed interest in direct foreign investment DFI. Despite the controversies surrounding the benefits and costs of DFI, a number of developing country governments have now changed their policies from restricting towards promoting foreign Investment. Some countries have actually tilted the balance towards foreign firms by offering special incentives: in Mexico, the maquiladora firms pay no income taxes; in much of the Caribbean, foreign firms receive income tax holidays, import duty exemptions, and subsidies for infrastructure. Are these subsidies justified? One benefit often cited in the literature on the gains from DFI, apart from the capital often inflows and additional employment, is the new technology brought in by foreign firms, it could justify some type of subsidy. This may be the rationable for goverment policies in economi