Title: International business spillovers in emerging markets: the Visegrad group

Authors: Vasileios A. Vlachos, Dimitris Kalimeris

Addresses: Department of International and European Studies, University of Macedonia, 156 Egnatia Street, Thessaloniki 54006, Greece. ' Department of Accounting, Alexander Technological Institute of Thessaloniki, School of Business and Economics, Thessaloniki 57400, Greece

Abstract: The literature on technology spillovers, from international trade and Foreign Direct Investment (FDI) to the Visegrad four, brings forward mixed results and leads to contradictory conclusions. This study investigates the effect of international business activity on Visegrad|s group labour productivity levels under the lens of European Union (EU) integration process. The findings regarding the influence of FDI and Research and Development (R&D) expenditure on labour productivity are mixed. A neglected relationship is highlighted, however, as approximately 1/3 to 1/2 of the increase in merchandise imports for the Visegrad group is transformed into labour productivity, enhancing it further towards the EU average.

Keywords: FDI; foreign direct investment; international business; multinational corporations; MNCs; productivity; Visegrad group; emerging economies; technology spillovers; emerging markets; European Union; EU integration; research and development; R&D expenditure on labour productivity.

DOI: 10.1504/IJEPEE.2010.037581

International Journal of Economic Policy in Emerging Economies, 2010 Vol.3 No.4, pp.330 - 345

Published online: 19 Dec 2010 *

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