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Capital Flows, Vertical Multinationals, Wage Inequality, and Welfare

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  • Wen-Jung Liang
  • Chao-Cheng Mai
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    Abstract

    Wage inequality between skilled and unskilled labor in the US and its trading partners, Mexico and Chile, has increased since 1980, while Taiwan's wage inequality has decreased since the mid-1980s. The authors provide a new explanation for the latter, involving a rise in capital flows from Taiwan to less-developed countries (LDCs) in the form of vertical multinationals (MNEs), and a corresponding rise in intermediate-good exports from the MNEs to subsidiaries in LDCs. Moreover, national income in both countries definitely improves. Copyright Blackwell Publishing Ltd 2003.

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal Review of Development Economics.

    Volume (Year): 7 (2003)
    Issue (Month): 4 (November)
    Pages: 599-608

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    Handle: RePEc:bla:rdevec:v:7:y:2003:i:4:p:599-608

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    Cited by:
    1. Paul Maarek & Bruno Decreuse, 2013. "FDI and the labor share in developing countries: A theory and some evidence," THEMA Working Papers 2013-20, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.

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