Kamran Bilir

Department of Economics
University of Wisconsin - Madison
1180 Observatory Drive
Madison, WI 53706

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NBER Working Papers and Publications

March 2017The Impact of Information Technology on the Diffusion of New Pharmaceuticals
with Kenneth J. Arrow, Alan T. Sorensen: w23257
This paper is currently unavailable while one of the data providers completes their review.
April 2016Innovation in the Global Firm
with Eduardo Morales: w22160
How global are the gains from innovation? When firms operate production plants in multiple countries, technological improvements developed in one location may be shared with foreign sites for efficiency gain. We develop a model that accounts for such transfer, and apply it to measure private returns to R&D investment for a panel of U.S. multinationals during 1989{2008. Our estimates indicate that innovation increases performance at firm locations beyond the innovating site: the average U.S. multinational firm realizes abroad over a quarter of the return to its U.S. R&D investment, suggesting estimates based only on domestic operations understate multinationals' gain from innovation. We also find that multinationals' U.S. R&D significantly increases aggregate value added in foreign countrie...
April 2014Host-Country Financial Development and Multinational Activity
with Davin Chor, Kalina Manova: w20046
This paper evaluates the influence of host-country financial development on the global operations of multinational firms. Using detailed U.S. data, we provide evidence that host-country financial development increases entry by multinational affiliates, while also decreasing affiliate sales in the local market relative to the parent country and third-country destinations. These effects are more pronounced in industries that depend more on external sources of financing. The patterns are consistent with the combination of two effects of financial development: 1) a competition effect that reduces individual affiliates' revenues in the host market due to increased entry by domestic firms, and 2) a financing effect that raises affiliate entry and aggregate sales due to affiliates' improved acces...
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