| Summary: | 碩士 === 國立中正大學 === 國際經濟研究所 === 102 === This paper utilizes the data of 1,189 Taiwanese manufacturing firms during 2001-2010 to explore the relationship between a firm's productivity (in terms of either relative total factor productivity or relative labor productivity) and the number of its outward FDI destinations. The results from the Kolmogorov-Smirnov (KS) test suggest no sign of Pecking Order proposed by Yeaple (2009) when outward FDI destinations are the developed countries. On the other hand, when destinations are developing economies, we find a strong support of Pecking Order from the KS test. These contradictive results to previous studies (Yeaple, 2009; Tananka, 2012) can be attributed to the typical type of FDI (the cost-reduction vertical FDI) conducted by Taiwanese manufacturing firms.
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