{
  "title": "Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence From the United States",
  "publication": "IMF Working Papers, December 1, 2003",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978",
  "overlayPath": "/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/index.md",
  "summary": "We estimate international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to substantial productivity gains for domestic firms.",
  "sections": [
    {
      "heading": "Summary of research question and scope",
      "content": "- Estimates international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI).\n- Sample period: between 1987 and 1996.\n- Authors: Stephen R. Yeaple, Wolfgang Keller.\n- Publication: IMF Working Papers, Working Paper No. 2003/248, Issue: 248, Volume: 2003, Pages: 40.\n- Publication date: December 1, 2003.\n- DOI: https://doi.org/10.5089/9781451875898.001."
    },
    {
      "heading": "Main findings on FDI spillovers",
      "content": "- FDI leads to substantial productivity gains for domestic firms.\n- The size of FDI spillovers is economically important, accounting for about 11 percent of productivity growth in U.S. firms between 1987 and 1996."
    },
    {
      "heading": "Findings on import-related spillovers",
      "content": "- There is some evidence for import-related spillovers.\n- Import-related spillovers are weaker than FDI spillovers."
    },
    {
      "heading": "Contribution relative to earlier work",
      "content": "- Results contrast with earlier work that found little or no productivity gains from FDI spillovers.\n- The paper provides a detailed account of why this study leads to results different from those found in previous work.\n- The authors' analysis indicates that the results are also likely to apply to other countries and periods."
    },
    {
      "heading": "Keywords and subjects covered",
      "content": "- Subject: Balance of payments; Financial sector policy and analysis; Foreign direct investment; Imports; International trade; Production; Productivity; Spillovers; Total factor productivity.\n- Keywords include: FDI activity; FDI growth; FDI share; FDI spillover; FDI variable; firm hire; Foreign direct investment; Imports; industry FDI; international trade; market share; Productivity; productivity difference; spillover effect; Spillovers; technology spillovers; technology transfer; TFP growth; TFP measure; Total factor productivity; unobserved industry characteristic; WP.\n\nMultinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence From the United States — IMF Working Paper No. 2003/248 (December 1, 2003).\n\n---\n\n Content in this bundle\n\n- wp03248\n  - wp03248 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp03248 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/bundle-manifest.json)",
    "Authors: Stephen R. Yeaple, Wolfgang Keller",
    "Published: December 1, 2003",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451875898.001",
    "Estimates international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI).",
    "Sample period: between 1987 and 1996.",
    "Authors: Stephen R. Yeaple, Wolfgang Keller.",
    "Publication: IMF Working Papers, Working Paper No. 2003/248, Issue: 248, Volume: 2003, Pages: 40.",
    "Publication date: December 1, 2003.",
    "DOI: https://doi.org/10.5089/9781451875898.001.",
    "FDI leads to substantial productivity gains for domestic firms.",
    "The size of FDI spillovers is economically important, accounting for about 11 percent of productivity growth in U.S. firms between 1987 and 1996.",
    "There is some evidence for import-related spillovers.",
    "Import-related spillovers are weaker than FDI spillovers.",
    "Results contrast with earlier work that found little or no productivity gains from FDI spillovers.",
    "The paper provides a detailed account of why this study leads to results different from those found in previous work.",
    "The authors' analysis indicates that the results are also likely to apply to other countries and periods.",
    "Subject: Balance of payments; Financial sector policy and analysis; Foreign direct investment; Imports; International trade; Production; Productivity; Spillovers; Total factor productivity.",
    "Keywords include: FDI activity; FDI growth; FDI share; FDI spillover; FDI variable; firm hire; Foreign direct investment; Imports; industry FDI; international trade; market share; Productivity; productivity difference; spillover effect; Spillovers; technology spillovers; technology transfer; TFP growth; TFP measure; Total factor productivity; unobserved industry characteristic; WP.",
    "**_wp03248**"
  ],
  "related": [
    {
      "title": "_wp03248",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2003/_wp03248.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2003/_wp03248.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2003/_wp03248.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/index.md",
    "json": "/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/30/multinational-enterprises-international-trade-and-productivity-growth-firm-level-evidence-16978/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T07:04:13.938Z"
}