Multinational firms and the new trade theory

• 成果类型: Article
• 署名作者: Markusen, JR; Venables, AJ
• 署名单位: National Bureau of Economic Research; University of Colorado System; University of Colorado Boulder; Center for Economic & Policy Research (CEPR); University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(97)00052-4
• 发表日期: 1998
• 页码: 183-203
• 关键词: MULTINATIONALS; New Trade theory; endogeneous location

摘要

A model is constructed in which multinational firms arise endogenously. Multinationals are more important in total activity when countries are similar in incomes (size) and in relative factor endowments, and when total world income is high. These predictions are consistent with empirical evidence, and our results help point to more formal tests. The standard oligopoly model of international trade is a special case of our model when multinationals are suppressed, and this allows us to provide an explicit comparison to the national-firm model with respect to the location of production, welfare, and the volume of trade. (C) 1998 Elsevier Science B.V. All rights reserved.