Multinational Firms and the Theory of International Trade, vol 1
James Markusen
in MIT Press Books from The MIT Press
Abstract:
Despite the great importance of multinational firms in international economics, theoretical and empirical research on these firms has generally been conducted separately from that on international trade. In this book, James Markusen provides a comprehensive integration of the two fields. Drawing on twenty years of research, he focuses on the interaction of scale economies, trade costs, factor endowments, and imperfect competition. He analyzes decisions about whether to build or acquire a foreign plant separately from decisions about where to raise the financing. Markusen begins with the simplest possible partial equilibrium models and works systematically toward a full-fledged general equilibrium model with both horizontal and vertical foreign direct investment. He offers empirical tests of hypotheses derived from the theoretical models. The notation is unified throughout, distinctions between models are explained with thoroughly explained derivations, and numerous graphs support the analysis.
Keywords: multinational firms; international trade (search for similar items in EconPapers)
JEL-codes: C68 F12 F23 (search for similar items in EconPapers)
Date: 2004
Edition: 1
ISBN: 0-262-63307-8
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Working Paper: Multinational Firms and the Theory of International Trade (2002)
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