Using a novel database on multinational production (MP), this article investigates the impact of preferential trade agreements on foreign affiliates’ production activities. We find that trade agreements with investment provisions have a positive effect on MP. On average, signing an agreement including investment provisions is associated with increased MP up to 26% in the manufacturing sector and 34% in the services sector. Our findings suggest that investment provisions increase MP by facilitating multinationals operations in foreign markets, especially for activities requiring the proximity of suppliers and consumers, and by helping multinationals joining global value chains.

中文翻译：

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优惠贸易协定中的跨国生产和投资条款

本文使用一个关于跨国生产 (MP) 的新数据库，调查了优惠贸易协定对外国子公司生产活动的影响。我们发现带有投资条款的贸易协定对 MP 有积极影响。平均而言，签署包括投资条款的协议与制造业 MP 增加 26% 和服务业 34% 相关。我们的研究结果表明，投资条款通过促进跨国公司在国外市场的运营，特别是对于需要靠近供应商和消费者的活动，以及通过帮助跨国公司加入全球价值链来增加 MP。