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The proliferation of multinational activities has led to the emergence of new industrial clusters around the world. In this paper, the authors examine how "First nature" location fundamentals and "Second nature" agglomeration economies jointly determine the global landscape of multinational firms. Using a unique worldwide plant dataset that reports detailed location, ownership, and operation information for plants in more than 100 countries, they construct a spatially continuous index of global agglomeration and investigate the patterns and determinants of clustering between multinational firms.
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