Economic Institutions and the Location Strategies of European Multinationals in their Geographic Neighborhood
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This article investigates how the location behavior of multinational enterprises (MNEs) is shaped by the economic institutions of the host countries. The analysis covers a wide set of geographically proximate economies with different degrees of integration with the old fifteen European Union members: new member states, accession and candidate countries, as well as European Neighborhood Policy countries and the Russian Federation. The article aims to shed new light on the heterogeneity of MNE preferences for the host countries’ regulatory settings (including labor market and business regulation), legal aspects (i.e., protection of property rights and contract enforcement), and the weight of the government in the economy. By employing data on 6888 greenfield investment projects, the random-coefficient mixed logit analysis shows that, although the quality of the national institutional framework is generally beneficial for the attraction of foreign investment, MNEs’ preferences over economic institutions are highly heterogeneous across sectors and business functions.
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Favorable business regulations, IP protection, and significant education spending typically attract technologically and functionally sophisticated activities.
“Among these factors, favorable business regulations, IP protection, and significant education spending typically attract technologically and functionally sophisticated activities (Amendolagine et al., 2019;Ascani et al., 2016;Pipkin & Fuentes, 2017).”
From Global value chains: A review of the multi-disciplinary literature (2020) · cites this paper as Ascani et al., 2016
Lead MNEs operating in high- and medium-technology sectors and/or locating knowledge-intensive functions in host markets are more likely to pursue ownership in jurisdictions that offer weaker IP protection.
“Further, control decisions are linked to sectoral and functional factors -for example, lead MNEs operating in high-and medium-technology sectors and/or locating knowledge-intensive functions (e.g., innovation) in host markets are more likely to pursue ownership in jurisdictions that offer weaker IP protection (Ascani, Crescenzi, & Iammarino, 2016).”
From Global value chains: A review of the multi-disciplinary literature (2020) · cites this paper as Ascani, Crescenzi, & Iammarino, 2016
The impact of host country institutional environment on GVCs is heterogeneous: it varies across GVCs, depending on specific functions/activities being offshored, internationalization motives, and lead firm-level strategies and capabilities.
“However, the impact of host country institutional environment on GVCs is heterogeneous: while it is tempting to assume that lead firms are attracted by favorable local business regulations and strong institutions, this impact in fact varies across GVCs, depending on specific functions/activities being offshored, internationalization motives, and lead firm-level strategies and capabilities (Ascani”
From Global value chains: A review of the multi-disciplinary literature (2020) · cites this paper as Ascani et al., 2016
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Self-citation
- Authors
- Ascani, A., Crescenzi, R., & Iammarino, S.
- Affiliations
- London School of Economics and Political Science (GB)
- Corresponding author
- Ascani, Andrea
- Crescenzi, Riccardo
- Iammarino, Simona
- Venue
- Economic Geography
- Publisher
- Informa UK Limited
- Published
- 2016-06-06
- Volume
- 92
- Issue
- 4
- Pages
- 401-429
- ISSN
- 0013-0095 (ISSN-L)
- 1944-8287
- OpenAlex
- W2275021452
- Cited by
- 75
- References
- 125
- Citations by year
- 2026: 3 · 2025: 3 · 2024: 12 · 2023: 8 · 2022: 6 · 2021: 12 · 2020: 10 · 2019: 3 · 2018: 5 · 2017: 5 · 2016: 5 · 2015: 3
- FWCI
- 14.37
- Type
- journal article
- Language
- en
- Open access
- green
- orcid.org
- Locations
- Economic Geography (publishedVersion)
- London School of Economics and Political Science Research Online (London School of Economics and Political Science) (submittedVersion)
- London School of Economics and Political Science Theses Online (London School of Economics and Political Science) (submittedVersion)
- LSE Research Online Documents on Economics (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Utrecht University Repository (Utrecht University) (submittedVersion)
- Iris (Roma Tre University) (submittedVersion)
- Funders
- Economic and Social Research Council (Doctoral Studentship (2011-2014))
- European Research Council (639633-MASSIVE-ERC-2014-STG)
- European Commission Seventh Framework Programme (FP7-SSH - 2010.2.2-1 (266834))
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › International Business and FDI
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Zones and Regional Development
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Regional Economics and Spatial Analysis
- Keywords
- economic institutions, foreign direct investment, greenfield investment, labor market regulation, trade regulation, property rights protection, contract enforcement, role of the state in the economy, institutional heterogeneity, EU enlargement, European Neighbourhood Policy, Russia
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