Multinational production and investment provisions in preferential trade agreements
利用跨国生产新数据库，研究了优惠贸易协定中的投资条款对海外子公司生产活动的影响，发现包含投资条款的协定能显著提升制造业和服务业的跨国生产。
Abstract Using a novel database on multinational production (MP), this article investigates the impact of preferential trade agreements on foreign affiliates’ production activities. We find that trade agreements with investment provisions have a positive effect on MP. On average, signing an agreement including investment provisions is associated with increased MP up to 26% in the manufacturing sector and 34% in the services sector. Our findings suggest that investment provisions increase MP by facilitating multinationals operations in foreign markets, especially for activities requiring the proximity of suppliers and consumers, and by helping multinationals joining global value chains.