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The Long-Term Effects of Foreign Investment on Local Human Capital: Four American Companies in Spain, 1920s–1970s

Published online by Cambridge University Press:  25 October 2018

Núria Puig  and
Adoración Álvaro-Moya
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Abstract

This article explores the long-term effects of foreign direct investment on the human capital development of host economies, based on the historical analysis of the Spanish operations of four leading American firms: ITT, J. Walter Thompson, Merck Sharp & Dohme, and John Deere. Our research shows that the training and working practices of these companies had a positive impact on the Spanish subsidiaries in terms of technological upgrading and managerial development. However, the local context was also relevant, through mandatory agreements that empowered local partners from the start and the availability of locally educated professionals eager to absorb new knowledge.

Keywords

foreign direct investmentspillovershuman capitalAmerican multinational enterprisesSpain
Type
Research Article
Information
Business History Review , Volume 92 , Issue 3 , Autumn 2018 , pp. 425 - 452
Copyright
Copyright © The President and Fellows of Harvard College 2018 

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Footnotes

The authors acknowledge financial support from the Spanish research system (projects ECO 2012-35266 and HAR 2015-64769). They are grateful to the editors and reviewers for their insightful comments.

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