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Economic Journal

Location of R&D and High‐Tech Production by Vertically Integrated Multinationals

Ekholm, Karolina och Katariina Hakkala (2007). ”Location of R&D and High‐Tech Production by Vertically Integrated Multinationals”. Economic Journal 117(518), 512–543.

Karolina Ekholm, Katariina Hakkala

This article extends the theory of multinational firms by allowing for agglomeration forces in firmlevel activities such as R&D as well as in production. We develop a two-country general-equilibrium model where firms make separate choices about the location of R&D and production. There are R&D spillovers and a home-market effect creating incentives for firms to locate production in the relatively large market. For relatively weak R&D spillovers and intermediate trade costs, the smaller economy tends to specialise in R&D. While skilled labour may gain from hosting an agglomeration of R&D activities, unskilled labour.