THE DETERMINANTS OF INTRAFIRM TRADE: EVIDENCE FROM FRENCH FIRMS

• 成果类型: Article
• 署名作者: Corcos, Gregory; Irac, Delphine M.; Mion, Giordano; Verdier, Thierry
• 署名单位: Norwegian School of Economics (NHH); European Central Bank; Bank of France; University of London; London School Economics & Political Science; Paris School of Economics
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00293
• 发表日期: 2013-07
• 页码: 825-838
• 关键词: Vertical Integration; direct-investment; FDI; GLOBALIZATION; PRODUCTIVITY; ORGANIZATION; CONTRACTS; MARKET; export; MODEL

摘要

How well does the theory of the firm explain the choice between intrafirm and arm's-length trade? This paper uses firm-level import data from France to look into this question. We find support for three key predicdons of property rights theories of the multinational firm. Intrafirm imports are more likely in capital- and skill-intensive firms, in highly productive firms, and from countries with well-functioning judicial institutions. We bridge previous aggregate findings with our investigation by decomposing intrafirm imports into an extensive and intensive margin and uncover interesting patterns in the data that require further theoretical investigation.