NDLI: Foreign Direct Investment and R&D: Substitutes or Complements—A Case of Indian Manufacturing after 1991 Reforms

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Foreign Direct Investment and R&D: Substitutes or Complements—A Case of Indian Manufacturing after 1991 Reforms

Content Provider	Semantic Scholar
Author	Sasidharan, Subash Kathuria, Vinish
Copyright Year	2011
Abstract	Summary The entry of foreign firms in India since the reforms forces domestic firms to undertake R&D activities or import technology so as to compete with them. This study examines the relationship between FDI and R&D of the domestic firms in the post-liberalization regime. The study uses unbalanced panel data for 1,843 Indian manufacturing firms operating during the period 1994-2005 and corrects for the self-selection problem by using a Heckman-two step procedure. The analysis involving full sample does not give a clear picture of the impact of FDI on the innovation strategies of domestic firms. Interesting results emerge, when analysis is carried out according to different sub-samples--based on foreign-ownership and technology intensity of the industry. FDI and R&D are found to be complements when sample is divided on the bases of equity ownership. FDI inflow induces foreign-owned firms in high tech industries and firms in minority ownership to invest in R&D.
Starting Page	1226
Ending Page	1239
Page Count	14
File Format	PDF HTM / HTML
DOI	10.1016/j.worlddev.2010.05.012
Alternate Webpage(s)	http://isiarticles.com/bundles/Article/pre/pdf/9592.pdf
Alternate Webpage(s)	https://doi.org/10.1016/j.worlddev.2010.05.012
Volume Number	39
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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