EFFECTIVENESS OF FDI, TECHNOLOGICAL GAP AND SECTORAL LEVEL PRODUCTIVITY IN THE VISEGRAD GROUP
研究了维谢格拉德集团加入欧盟十年后，外商直接投资对其部门经济增长和生产率的正向影响，发现该影响取决于东道国与母国之间的技术差距，并通过产出增长、要素利用效率提升和全要素生产率效率提高三条渠道传导。
The objective of this paper is to investigate the impact of foreign direct investment (FDI) on economic growth and productivity in sectors of the Visegrad Group one decade after their accession to the EU. In order to account for sample heterogeneity, as well as productivity differences, we construct a generalized true random-effects model with varying efficiency distribution. We find that FDI has a positive impact on the Visegrad Group’s sectors and that its effectiveness depends upon the technological gap between the host and home economy. There are three sources of this positive impact: (i) sectoral output and labour productivity growth, (ii) more effective use of input factors, and via (iii) higher efficiency component of the total factor productivity (TFP). These sources form a three-way transmission mechanism through which FDI can impact economic growth conditioned upon FDI effectiveness due to the technological gap.