Internationalized Production in World Output

Robert E. Lipsey (), Magnus Blomström () and Eric Ramstetter
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Magnus Blomström: Department of Economics, Postal: Stockholm School of Economics, Box 6501, 113 83 Stockholm, Sweden.
Eric Ramstetter: Faculty of Economics, Postal: Kansai University, 3-3-35 Yamate-Cho, Suita, Osaka, 56401 JAPAN

No 80, Working Paper Series in Economics and Finance from Stockholm School of Economics

Abstract: Internationalized production, that is, production by multinational firms outside their home countries has increased over the last two decades, but it was still, in 1990, only about 7 per cent of world output. The share was higher, at 15 per cent in "industry", including manufacturing, trade, construction, and public utilities, but it was negligible in "services", which are about 60 per cent of world output. Given all the attention that "globalization" has received from scholars, international organizations, and the press, these numbers are a reminder of how large a proportion of economic activity is confined to single geographical locations and home country ownership. Internationalization of production is clearly growing in importance, but the vast majority of production is still carried out by national producers within their own borders.

Keywords: Globalization; foreign investment; multinationals (search for similar items in EconPapers)
JEL-codes: F23 (search for similar items in EconPapers)
Date: 1995-10
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Published in Geography and Ownership as Bases for Economic Accounting, Baldwin, R. E. (eds.), 1997, Oxford University Press.

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Related works:
Chapter: Internationalized Production in World Output (1998)
Working Paper: Internationalized Production in World Output (2000)
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