A MULTIDIMENSIONAL-ANALYSIS OF THE INTERNATIONAL PERFORMANCE OF US MANUFACTURING-INDUSTRIES

This study analyzes the determinants of three alternative measures of the international performance of U.S. manufacturing industries: export shares, the average number of foreign markets served, and the intensi ty of foreign direct investment. The factors affecting these three var iables and various interactions among them are estimated econometrical ly using a sample of 37 U.S. industries. Overall, variables reflecting industrial organization, technological innovation, and scale economie s are found to be more significant than traditional factor-proportions or labor-cost factors in explaining U.S. manufacturing performance in overseas markets.