2026年10月21日（水曜）午前10時00分～午前11時15分

ジェトロ・アジア経済研究所　C23会議室

The paper studies the effect of R&D investment by multinational companies' (MNC) parent firms and their affiliates on the affiliates' decision to purchase intermediate inputs across different locations. We first develop a theoretical model that allows R&D to affect sourcing decisions through two channels: Hicks-neutral productivity and input prices. While the first channel implies that R&D in one location would affect imports from all locations equally, the second channel implies that R&D might have location-specific effects. Using data on a sample of Japanese multinationals and affiliates, we find that parent R&D has a robust positive effect on affiliate productivity. Furthermore, parent R&D and third-party affiliates' R&D seem to increase the prices of inputs from Japan and third-party countries, suggesting higher quality of inputs from those locations. Our findings suggest that through MNC activities, the geography of R&D has important implications for global trade flows.

Trang Hoang氏（連邦準備理事会）

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