Estimating The Knowledge-Capital Model of the Multinational Enterprise

David L. Carr, James Markusen and Keith Maskus

Chapter 5 in Broadening Trade Theory:Incorporating Market Realities into Traditional Models, 2021, pp 95-110 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The industrial-organization (IO) approach to international trade (“new trade theory”) has incorporated features of increasing returns to scale, imperfect competition, and product differentiation into traditional general-equilibrium trade models. These new models offer rich predictions about the direction and volume of trade between two countries as functions of industry characteristics (factor intensities, scale economies, product differentiation) interacting with country characteristics (relative size differences, relative endowment differences, and trade costs)…

Keywords: Multinational Firms; Horizontal Multinationals; Vertical Multinationals; Internalization; Vertical Integration; Outsourcing; Foreign Affiliates; Per-Capita Income; Non-homothetic Preferences; Income Elasticity of Demand; Missing Trade Puzzle; Skill Premium Puzzle; Pro-competitive Gains From Trade; Complements; Externalities (search for similar items in EconPapers)
JEL-codes: F00 F02 F13 F41 F43 (search for similar items in EconPapers)
Date: 2021
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Related works:
Journal Article: Estimating the Knowledge-Capital Model of the Multinational Enterprise (2001)
Working Paper: Estimating the Knowledge-Capital Model of the Multinational Enterprise (1998)
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