Graduating to globalisation
نویسندگان
چکیده
In this paper we examine the relationship between firm characteristics and the decision of the firm to sell in the domestic market, export and/or invest abroad. We find that globalisation of Indian firms through the sharp increase in exports and foreign direct investment can be explained by firm characteristics. Data for a set of more than 1600 Indian firms for 10 years shows that exporting and foreign investment are complimentary. We find that there is a hierarchy such that the weakest firms serve the domestic market, better firms export, and best firms also invest abroad. We find that the threshold for FDI is significantly higher than the threshold for exporting.
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