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A Unified Treatment of Horizontal Direct Investment, Vertical Direct Investment, and the Pattern of Trade in Goods and Services.

Abstract:

This paper contributes to research endogenizing multinational firms in general-equilibrium trade models. We attempt to integrate separate contributions on horizontal multinationals which produce the same final product in multiple locations, with work on vertical multinationals, which geographically fragment production by stages. Previously derived results now emerge as special cases of a more general model. Vertical multinationals dominate when countries are very different in relative factor ...

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Publisher:
National Bureau of Economic Research
Host title:
NBER Working Papers
Series:
NBER Working Papers
Volume:
5696
Place of publication:
Inc, NBER Working Papers
Publication date:
1996-01-01
Paper number:
5696
Language:
English
UUID:
uuid:faf27968-188d-4b85-a825-fd240df88019
Local pid:
oai:economics.ouls.ox.ac.uk:12016
Deposit date:
2011-08-16

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