Gifted kids or pushy parents? Foreign direct investment and plant productivity in Indonesia
利用印度尼西亚制造业普查数据，通过倾向得分匹配与双重差分法，发现外资持股能显著提升工厂生产率，并在收购后三年内高出对照组13.5%，同时伴随投资、就业和工资的增加。
This paper analyzes the causal relationship between foreign ownership and various aspects of plant performance using micro data from the Indonesian Census of Manufacturing. It examines the implications of foreign ownership in two different contexts: foreign acquisitions and foreign privatizations. To control for the possible endogeneity of FDI decision propensity score matching is combined with a difference-in-differences approach. The results indicate that foreign ownership leads to significant productivity improvements in the acquired plants. The improvements become visible in the acquisition year and continue in subsequent periods. After three years, the acquired plants exhibit a 13.5% higher productivity than the control group. The rise in productivity is a result of restructuring, as acquired plants increase investment outlays, employment and wages. Foreign ownership also appears to enhance the integration of plants into the global economy through increased exports and imports. Finally, productivity improvements and evidence of restructuring are also found in the context of foreign privatizations.