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This paper assesses two research questions: has the presence of foreign firms contributed to productivity increases in Turkey, and how could Turkey increase foreign direct investment inflows? First, the analysis applies dynamic regressions in differences over an AMADEUS firm-level data set. Similar to the results for other emerging countries, Turkish firms that received foreign direct investment will see an increase in productivity after the fourth year. The paper finds evidence of negative but small competition spillovers over domestic firms in the same sector of the multinational, as well as positive and large knowledge spillovers to domestic firms in broader two-digit sectors. This finding constitutes a case for foreign direct investment attraction policies in Turkey. Second, based on the findings of the cross-country regressions, the paper argues that Turkey could increase its attractiveness to foreign investors by strengthening institutional quality, in particular the rule of law, and mitigating exchange rate volatility.

Determinants of FDI --- Foreign Direct Investment --- Knowledge Spillovers

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This paper investigates whether the agglomeration of economic activity in regional clusters affects long-run manufacturing total factor productivity growth in an emerging market context. It explores a large firm-level panel dataset for Chile during a period characterized by high growth rates and rising regional income inequality (1992-2004). The findings are clear-cut. Locations with greater concentration of a particular sector did not experience faster growth in total factor productivity during this period. Rather, local sector diversity was associated with higher long-run growth in total factor productivity. However, there is no evidence that the diversity effect was driven by the local interaction with a set of suppliers and/or clients. The authors interpret this as evidence that agglomeration economies are driven by other factors, such as the sharing of access to specialized inputs not provided solely by a single sector, such as skills or financing.

Achieving Shared Growth --- Agglomeration Economies --- Economic Growth --- Economic Theory & Research --- International Economics & Trade --- Knowledge Spillovers --- Labor Policies --- Local Growth --- Political Economy --- Total Factor Productivity Growth --- Chile

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This paper investigates whether the agglomeration of economic activity in regional clusters affects long-run manufacturing total factor productivity growth in an emerging market context. It explores a large firm-level panel dataset for Chile during a period characterized by high growth rates and rising regional income inequality (1992-2004). The findings are clear-cut. Locations with greater concentration of a particular sector did not experience faster growth in total factor productivity during this period. Rather, local sector diversity was associated with higher long-run growth in total factor productivity. However, there is no evidence that the diversity effect was driven by the local interaction with a set of suppliers and/or clients. The authors interpret this as evidence that agglomeration economies are driven by other factors, such as the sharing of access to specialized inputs not provided solely by a single sector, such as skills or financing.

Achieving Shared Growth --- Agglomeration Economies --- Economic Growth --- Economic Theory & Research --- International Economics & Trade --- Knowledge Spillovers --- Labor Policies --- Local Growth --- Political Economy --- Total Factor Productivity Growth --- Chile

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How much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? In this book, some of the world's leading economists tackle this difficult and understudied question, and their responses shed new light on how free-market economies work--and what policies most encourage their growth. The contributors take as their starting point William J. Baumol's 2002 book The Free-Market Innovation Machine (Princeton), which argued that independent entrepreneurs are far more important to growth than economists have traditionally thought, and that an implicit partnership between such entrepreneurs and large corporations is critical to the success of market economies. The contributors include the editors and Robert M. Solow, Kenneth J. Arrow, Michael M. Weinstein, Douglass C. North, Barry R. Weingast, Ying Lowrey, Nathan Rosenberg, Melissa A. Schilling, Corey Phelps, Sylvia Nasar, Boyan Jovanovic, Peter L. Rousseau, Edward N. Wolff, Deepak Somaya, David J. Teece, Naomi R. Lamoreaux, Kenneth L. Sokoloff, Yochanan Shachmurove, Ralph E. Gomory, Jonathan Eaton, Samuel S. Kortum, Alan S. Blinder, Robert J. Shiller, Burton G. Malkiel, and Edmund S. Phelps.

American Marconi Corporation. --- Athanasoulis, Stefano. --- Bergson, Henri. --- Blanchard, Thomas. --- Brush Electric Company. --- Burlington and Quincy Railroad. --- Carothers, Wallace. --- Cisco Systems. --- Cromwell, Oliver. --- DiCaprio, Leonardo. --- Digital. --- Eaton, Jonathan. --- Economides, Nicholas. --- Emerson, Ralph Waldo. --- Fleming, Alexander. --- Genentech. --- Gomory, Ralph E. --- Hamilton, Alexander. --- Hobbes, Thomas. --- Index of Economic Freedom. --- Intel Corporation. --- James, William. --- Jansky, Karl. --- Jovanovic, Boyan. --- Keller, Wolfgang. --- Keynes, John Maynard. --- Langmuir, Irving. --- Lawrence, Andrew. --- Leonardo da Vinci. --- Lowrey, Ying. --- Mao Zedong. --- Marx, Karl. --- Mauro, Paolo. --- Mowery, David. --- Nasar, Sylvia. --- National Science Foundation. --- Nordhaus, William. --- Oak Park, Illinois. --- Panofsky, Wolfgang. --- Pasteur, Louis. --- aggregative growth theory. --- antitrust policy. --- civil service examinations. --- corporatism. --- democracy. --- eBay. --- engineering disciplines. --- exact boundary theorem. --- exogenous growth models. --- expropriation, governmental. --- intellectual property. --- knowledge spillovers. --- lasers. --- networks: alliance. --- new growth economics. --- optimal portfolio of innovations. --- patent agents.