Eric D Ramstetter - Academia.edu (original) (raw)

Papers by Eric D Ramstetter

Journal of Asian Economics, 2013

dispute this view, asserting that internalization is the key necessary condition for a firm to be... more dispute this view, asserting that internalization is the key necessary condition for a firm to become a MNC. However, all agree that MNCs tend to possess intangible assets in relatively large amounts as evidenced by relatively high technology and advertising intensity compared to non-MNCs. 2 See, for example, Caves 2007 (ch. 3, 7, 9) and Dunning (1993, ch. 7-9, 11). 3 See Stretton and Orchard (1994) for a survey of the theoretical literature on this topic. See Jefferson (1998) for an application of the theory to issues raised by China's SOEs.

This paper examines the correlations of between shares of foreign multinational enterprises (MNEs... more This paper examines the correlations of between shares of foreign multinational enterprises (MNEs) in Thai manufacturing industries and energy efficiency in local Thai plants using data on medium-large plants from the industrial census for 2006. At the industry level, descriptive statistics suggested that MNE presence was negatively correlated with energy intensities in local plants. However, after accounting for the influences of plant-level factor usage and technical characteristics,correlations between MNE presence and energy intensities in local plants were generally positive. In other words, the econometric evidence presented here suggests that MNE presence generally leads local plants to be less energy intensive. However, this result is not robust and depends critically on the sample of industries examined, the level of aggregation used when defining MNE shares, and the variable (labor or output) used to measure MNE shares.

This paper examines patterns and changes of shares of the state sector, including stateowned ente... more This paper examines patterns and changes of shares of the state sector, including stateowned enterprises (SOEs) and other state entities, and foreign multinational enterprises (MNEs) in Vietnam since the mid-1990s. Because most Vietnamese are still self-employed or household workers with little or no connection to the state sector or MNEs, it is important to exclude the household sector from these comparisons. First, ownership shares vary markedly among economic activities. For example, economy-wide estimates indicate that MNEs and state sector have both been relatively small employers, but larger producers. MNEs have also become by far the largest exporters. Second, ownership shares and their trends vary substantially depending on the data source. Most conspicuously, SOE shares of nonhousehold enterprise employment and sales have decreased rapidly since 2000. On the other hand, economy-wide estimates of state shares in non-household employment and GDP declined much more slowly. Rec...

Using data on medium-large manufacturing plants from the industrial census for 2000 and sample su... more Using data on medium-large manufacturing plants from the industrial census for 2000 and sample surveys for 2001-2004, this paper asks whether the extent of foreign multinational enterprise (MNE) presence in an industry affects the energy efficiency of local Malaysian plants. At the industry level, correlations between MNE shares of labor or output and local plant energy intensities were negative but rather weak. Plant-level econometric estimates indicate that correlations of MNE shares to local plant energy intensities were more often negative than positive, after accounting for other factor usage and technical characteristics of plants. However, these results vary greatly depending upon on the sample of industries examined, the econometric estimation technique used, whether MNE shares are measured in terms of labor or output, and the level of aggregation used when defining MNE shares. If fixed effects estimators (the most common methodology in the recent literature) are used, most ...

This paper reexamines energy efficiency differentials between foreign multinational enterprises (... more This paper reexamines energy efficiency differentials between foreign multinational enterprises (MNEs) and local plants in Malaysian manufacturing using data on medium-large plants from the industrial census for 2000 and sample surveys for 2001-2004. Both descriptive statistics and results of econometric estimation indicate that MNEs had a moderate tendency to use relatively little fuel, which was relatively dirty source of energy during this period in Malaysia. MNEs also had a weak tendency to have high electricity intensities as well as low total energy intensities. However, differences in energy intensities between MNEs and local plants were not very pervasive and varied depending on industry and estimation methodology. In short, these results reinforce previous ones, suggesting that both MNEs and local plants generally used energy with similar efficiency during this period in Malaysian manufacturing. The results also suggest that if the goal is to promote greater energy efficien...

Southeast Asian Economies, 2020

This paper investigates the how effective protection and firm ownership affected firm productivit... more This paper investigates the how effective protection and firm ownership affected firm productivity in Vietnam during 2005-2010. In labour-intensive industries and industries with intermediate labour intensity, the level of effective protection in an industry had a significantly negative effect on firm productivity. Multinational enterprise (MNE) joint ventures (JVs) and state-owned enterprises (SOEs) had consistently higher productivity than private firms, with productivity usually being highest in JVs. Wholly-foreign MNEs (WOs) also had significantly higher productivity than private firms in 2005-2007, but lower productivity than JVs or SOEs, and in 2008-2010, WO-private differentials were insignificant. In capital-intensive industries, the pattern of productivity differentials (highest in JVs, followed by SOEs, WOs, and private firms) was similar in the earlier period, but not in the latter period or when all years were included in the sample. The level of effective protection also did not have a significant, independent effect on firm productivity in capital-intensive industries.

Economics and Finance in Indonesia, 2015

Foreign plants usually accounted for disproportionately large shares of exports in Indonesian man... more Foreign plants usually accounted for disproportionately large shares of exports in Indonesian manufacturing industries and exports of heavily-foreign plants (foreign ownership shares of 90-100 percent) grew conspicuously after the early-1990s. Foreign plants usually had significantly higher export propensities than local plants, although accounting for variation in factor intensities, size, and vintage reduced the differences. Heavily-foreign plants tended to have the highest export propensities, but differences among foreign ownership groups were statistically insignificant in half of the cases examined. Statistically significant differences among foreign plants were concentrated in heavily-foreign plants in textiles, plastics, basic metals, metal products, and electric and precision machinery during the mid-to late-1990s. JEL Classification: F14, F23, O53 Keywords: multinational corporations, foreign ownership shares, export propensities, Indonesia, manufacturing * The authors would like to thank Miao Wang, Robert E. Lipsey, other participants of the "Effects of FDI on Trade" session of the 80th Annual Conference of the Western Economic Association International in San Francisco, 4-8 July 2005, and Fredrik Sjöholm for comments on an earlier draft.

Global Economic Review, 2017

Asian Economic Journal, 2016

The views expressed in this publication are those of the author(s) and do not necessarily reflect... more The views expressed in this publication are those of the author(s) and do not necessarily reflect those of the Institute. No part of this book may be used reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in articles and reviews. For information, please write to the Centre.

This paper uses micro data and published compilations of micro data to estimate shares of multina... more This paper uses micro data and published compilations of micro data to estimate shares of multinational corporations (MNCs) in Southeast Asian manufacturing. It first shows that MNC shares tended to be largest in Singapore, intermediate in Malaysia and (recently) in Vietnam, and lowest in Thailand and Indonesia. Shares tended to decline in Singapore and Thailand, were relatively constant in Malaysia, and increased in Indonesia and Vietnam. Shares of majority foreign MNCs also increased conspicuously in Indonesia and Thailand as MNCs bought out local partners in joint ventures after the Asian crisis. Second, it highlights how MNC shares were always lowest in terms of the number of plants or establishments, or in other words, how MNCs tended to be larger on average than local firms or plants. MNCs also tended to account for larger shares of production than employment, and even larger shares of exports. Hence MNCs tended to have relatively high labor productivity and export propensitie...

This paper examines correlations between the shares of foreign multinational enterprises (MNEs) o... more This paper examines correlations between the shares of foreign multinational enterprises (MNEs) or state-owned enterprises (SOEs) in Indonesian manufacturing industries and energy efficiency in local, private plants in those industries using data on medium-large plants from the industrial censuses for 1996 and 2006. The econometric results suggest that energy intensities in private plants were often positively correlated with the presence of SOEs and majority-foreign MNEs but negatively correlated with the presence of heavily-and minority-foreign MNEs in 1996. However, the results were often reversed for 2006 and were sensitive to the sample analyzed as well as the measure of SOE or MNE presence and its level of aggregation.

Weltwirtschaftliches Archiv, 1989

Bulletin of Indonesian Economic Studies, 2014

Using 1996 and 2006 census data on medium-large plants in Indonesian manufacturing, we examine wh... more Using 1996 and 2006 census data on medium-large plants in Indonesian manufacturing, we examine whether foreign multinational enterprises (MNEs) and stateowned enterprises (SOEs) used purchased energy more efficiently than local, private plants, finding that the correlation between plant ownership and total energy intensity, gas intensity, and coal intensity was generally weak in both years. Second, we ask whether energy efficiency in private plants was affected by the presence of MNEs or SOEs in high-energy-consuming industries. In 1996, private energy intensities were often positively correlated with the presence of SOEs and majorityforeign MNEs and negatively correlated with the presence of wholly foreign or minority-foreign MNEs, but in 2006 the corresponding results differed substantially. This suggests that ownership-related differentials in energy intensity and intra-industry energy-intensity spillovers are not pronounced. If policymakers are concerned with improving energy efficiency in Indonesian manufacturing, plant ownership should not be a major consideration.

Asian Economic Papers, 2013

After controlling for the influences of plant-level factor usage and technical characteristics, f... more After controlling for the influences of plant-level factor usage and technical characteristics, foreign multinational enterprises (MNEs) used fuel and total energy more efficiently than local manufacturing plants in about one-third of Malaysia's large energy using industries. MNE-local or MNE-private differentials were insignificant, however, in most industries for electricity in Malaysia; total energy, electricity and three fuels (diesel, natural gas, and coal) in Indonesia; and total energy in Thailand. In short, MNEs and local or private plants generally used purchased energy with similar efficiency, probably because they faced similar host country policies and used similar energy technologies. * This paper summarizes some of the major results from the project "Ownership and Firm-or Plant-level Energy Efªciency in Southeast Asia," which was ªnanced by Japan Society for the Promotion of Sciences (grant 22530255). We are grateful for this ªnancial support and for logistic support from ICSEAD. We thank Kiichiro Fukusaku, Lin See Yan, and Naoyuki Yoshino for comments on a previous version, as well as Kornkarun

The views expressed in this publication are those of the author(s) and do not necessarily reflect... more The views expressed in this publication are those of the author(s) and do not necessarily reflect those of the Institute. No part of this article may be used reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in articles and reviews. For information, please write to the Centre.

Journal of Asian Economics, 2004