On the Welfare Effects of Competition for Foreign Direct Investments |
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additional welfare gain advanced region alternative to FDI asset prices assumed assumption banning subsidies bidding competition for FDI consumer surplus country B obtains depressed region difference of technological East Germany effects of subsidy European Central Bank firm Foreign Direct Investment gain in terms gains from subsidy higher the additional higher the difference incentives increases total welfare International invest abroad Labour Economics LG Electronics locates in country MNE exports MNE finds MNE invests MNE locates MNE's obtains the FDI obtains the investment offer subsidies ømin overbid positive externality profitable to locate region lagged region obtains region technologically lagged region that needs rival region subsidies being equal subsidy competition subsidy game suffers a welfare tax competition technological level technological spillover terms of profits TMax total welfare increases transportation costs Università Bocconi welfare effects welfare loss winner's curse wins the auction www.cepr.org მი