摘要：This paper examines whether the existence of externalities associated with foreign directinvestment (FDI) benefits the domestic firms of Indian manufacturing industries. Empiricalfindings reveal that local firms benefit from vertical foreign presence, whereas the horizontalforeign presence at the industry level could not substantially raise the value addition of laboracross Indian industries. The absorptive capacity of domestic firms is highly relevant to reapthe benefit from foreign presence, and could act as a precondition for incorporating thebenefit of FDI externalities. Higher concentration and a greater size of the domestic marketfacilitate to raise the productivity spillovers from foreign presence. Furthermore, theFDI-technology spillovers seem to be higher for R&D-and technology-intensive firms.
关键词：Foreign Direct Investment; Technology Spillover; Manufacturing; Panel;Cointegration; Unit Root Test
