What Drives the Location of Spanish Multinationals in Developing and Transition Countries?
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Title
What Drives the Location of Spanish Multinationals in Developing and Transition Countries?Date
2018-01Publisher
WileyISSN
1363-6669; 1467-9361Bibliographic citation
ALGUACIL, Maite; MARTÍ, Josep; ORTS, Vicente. What drives the localization of Spanish multinationals in developing and transition countries?. Review of Development Economics, 2018, vol. 22, núm.1, p. 242-262.Type
info:eu-repo/semantics/articlePublisher version
http://onlinelibrary.wiley.com/doi/10.1111/rode.12338/abstractVersion
info:eu-repo/semantics/acceptedVersionSubject
Abstract
In this paper, we investigate the location determinants of Spanish multinational firms in developing and
transition economies. We pay particular attention to the role played by market potential and agglomeration
e ... [+]
In this paper, we investigate the location determinants of Spanish multinational firms in developing and
transition economies. We pay particular attention to the role played by market potential and agglomeration
economies as decisive factors in location. We also analyse whether, beyond the observed attributes, there
are any significant differences across regions in terms of attracting foreign affiliates. With this aim, we
estimate a mixed logit model, which allows us to endogenously consider the existence of complex
substitution patterns among different destinations. Our results confirm that Spanish investment in
developing and transition countries depends on market potential and agglomeration externalities. The
intensity of these externalities, however, depends on the nationality of competitors, greater rivalry being
observed among Spanish-owned affiliates. Furthermore, our findings show that the location of
multinational firms responds both to factors related to the local business environment, including the cost
and quality of labour and infrastructures, and to the existence of specific regional effects [-]
Is part of
Review of Development Economics, 2018, vol. 22, no 1, p. 242-262.Investigation project
Spanish Ministerio de Economía y Competitividad Grant No. ECO2014-58975-P University Jaume I Grant No. UJI-B2016-53Rights
"This is the pre-peer reviewed version of the following article: [ALGUACIL, Maite; MARTÍ, Josep; ORTS, Vicente. What drives the localization of Spanish multinationals in developing and transition countries?. Review of Development Economics, 2018, vol. 22, núm.1, p. 242-262.], which has been published in final form at [https://doi.org/10.1111/rode.12338]. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving."
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