EXECUTIVE TAKEAWAYS
■ Differences in the development of market institutions within a country matter, especially in emerging economies. ■ Firms benefit from innovation strategies more in institutionally developed regions. ■ Institutional development in a region influences the effect of FDI inflows on local firms. ■ FDI likely promotes benefits from R&D only in more institutionally developed regions.
Sergey Lebedev, Assistant Professor of Strategic Management
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