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.
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ReDIF This book is provided by The MIT Press in its series MIT Press Books with number
0262633078 and published in 2004.
Find related papers by JEL classification: B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies F17 - International Economics - - Trade - - - Trade Forecasting and Simulation G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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