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Global Production: Firms, Contracts, and Trade Structure

Author

Listed:
  • Pol Antràs

    (Harvard University
    National Bureau of Economic Research)

Abstract

Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these frictions influence the world economy. Antràs discusses the inevitable complications that develop in contract negotiation and execution. He provides a unified framework that sheds light on the factors helping global firms determine production locations and other organizational choices. Antràs also implements a series of systematic empirical tests, based on recent data from the U.S. Customs and Census Offices, which demonstrate the relevance of contractual factors in global production decisions.

Suggested Citation

  • Pol Antràs, 2015. "Global Production: Firms, Contracts, and Trade Structure," Economics Books, Princeton University Press, edition 1, number 10613.
    • Handle: RePEc:pup:pbooks:10613
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    Citations

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    Cited by:

    1. Bomin Jiang & Daniel Rigobon & Roberto Rigobon, 2022. "From Just-in-Time, to Just-in-Case, to Just-in-Worst-Case: Simple Models of a Global Supply Chain under Uncertain Aggregate Shocks," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(1), pages 141-184, March.
    2. Arthur Blouin & Rocco Macchiavello, 2019. "Strategic Default in the International Coffee Market," The Quarterly Journal of Economics, Oxford University Press, vol. 134(2), pages 895-951.
    3. Dutta, Sourish, 2020. "Measurement of Global Value Chain (GVC) Participation in World Development Report 2020," MPRA Paper 105222, University Library of Munich, Germany, revised 09 Jan 2021.
    4. Dutta, Sourish, 2017. "Mechanistic Framework of Global Value Chains," MPRA Paper 105223, University Library of Munich, Germany, revised 09 Jan 2021.
    5. Cecília Hornok & Balázs Muraközy, 2019. "Markups of Exporters and Importers: Evidence from Hungary," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1303-1333, July.
    6. Dominik Boddin, 2016. "The Role of Newly Industrialized Economies in Global Value Chains," IMF Working Papers 2016/207, International Monetary Fund.
    7. Laura Alfaro & Pol Antràs & Davin Chor & Paola Conconi, 2019. "Internalizing Global Value Chains: A Firm-Level Analysis," Journal of Political Economy, University of Chicago Press, vol. 127(2), pages 508-559.
    8. Christian Dippel & Robert Gold & Stephan Heblich & Rodrigo Pinto, 2017. "Instrumental Variables and Causal Mechanisms: Unpacking the Effect of Trade on Workers and Voters," CESifo Working Paper Series 6816, CESifo.
    9. Edmund J. Malesky & Helen V. Milner, 2021. "Fostering global value chains through international agreements: Evidence from Vietnam," Economics and Politics, Wiley Blackwell, vol. 33(3), pages 443-482, November.
    10. Goyal, S., 2016. "Networks and Markets," Cambridge Working Papers in Economics 1652, Faculty of Economics, University of Cambridge.
    11. Ehsan Bolandifar & Tianjun Feng & Fuqiang Zhang, 2018. "Simple Contracts to Assure Supply Under Noncontractible Capacity and Asymmetric Cost Information," Manufacturing & Service Operations Management, INFORMS, vol. 20(2), pages 217-231, May.
    12. Rocco Macchiavello & Ameet Morjaria, 2021. "Competition and Relational Contracts in the Rwanda Coffee Chain," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(2), pages 1089-1143.
    13. Antonio Accetturo & Andrea Linarello & Andrea Petrella, 2017. "Legal enforcement and Global Value Chains: micro-evidence from Italian manufacturing firms," Questioni di Economia e Finanza (Occasional Papers) 397, Bank of Italy, Economic Research and International Relations Area.
    14. Davide Rigo, 2021. "Global value chains and technology transfer: new evidence from developing countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(2), pages 271-294, May.
    15. Hanming Fang & Chunmian Ge & Hanwei Huang & Hongbin Li, 2020. "Pandemics, global supply chains and local labor demand: evidence from 100 million posted jobs in China," CEP Discussion Papers dp1730, Centre for Economic Performance, LSE.
    16. Assaf Razin, 2017. "Globalized Israel: High Tech Prowess and Buttressing FDI," NBER Working Papers 23223, National Bureau of Economic Research, Inc.
    17. Michele Fioretti & Vanessa Alvariez & Ayumu Ken Kikkawa & Monica Morlacco, 2022. "Two-Sided Market Power in Firm-to-Firm Trade," SciencePo Working papers Main hal-03795736, HAL.
    18. Prema‐chandra Athukorala, 2020. "Handbook on Global Value Chains ‐ edited by Stefano Ponte, Garry Giraffe, and Gale Raj‐Reichert," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 34(1), pages 79-80, May.
    19. Kuznetsov, Dmitriy (Кузнецов, Дмитрий) & Sedalishchev, Vladimir (Седалищев, Владимир) & Knobel, Alexander (Кнобель, Александр), 2018. "Prospects for Reducing Barriers to Exports in the Context of the Participation of Russian Firms in Global Value Chains [Перспективы Снижения Барьеров Для Экспорта В Контексте Участия Российских Фир," Working Papers 061826, Russian Presidential Academy of National Economy and Public Administration.
    20. Assaf Razin, 2018. "High Tech and Venture Capital Inflows: The case of Israel," NBER Working Papers 25351, National Bureau of Economic Research, Inc.
    21. Kukharskyy, Bohdan & Pflüger, Michael P., 2018. "Time Is on My Side: Relational Contracts and Aggregate Welfare," IZA Discussion Papers 11387, Institute of Labor Economics (IZA).
    22. Razin, Assaf, 2017. "Israel Globalized: High Tech, Productivity and FDI," CEPR Discussion Papers 11882, C.E.P.R. Discussion Papers.
    23. Kukharskyy, Bohdan, 2015. "Relational contracts and global sourcing," University of Tübingen Working Papers in Business and Economics 83, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    24. Laura Alfaro & Maggie Xiaoyang Chen, 2018. "Transportation cost and the geography of foreign investment," Chapters, in: Bruce A. Blonigen & Wesley W. Wilson (ed.), Handbook of International Trade and Transportation, chapter 12, pages 369-406, Edward Elgar Publishing.
    25. Toraubally, Waseem A., 2023. "Comparative advantage with many goods: New treatment and results," European Journal of Operational Research, Elsevier, vol. 311(3), pages 1188-1201.

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