This study investigates whether foreign direct investment (FDI) is governed by technological intensity, technology spillovers and intangible asset acquisition motives. The analysis is undertaken for U.S. outward FDI for a sample of developed economies. The results indicate that technological intensity in the host country is a significant determinant of outward FDI, as are other motives, like market access and tariff-jumping. Once the spillover and intangible asset acquisition motives are taken into account, market access motive in outward FDI disappears.
