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Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production

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  • Antràs, Pol

Abstract

I survey the influence of Grossman and Hart's (1986) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization of production and the structure of international trade flows. I also review empirical work suggestive of the empirical relevance of the property-rights theory. Along the way, I develop novel theoretical results and also outline some of the key limitations of existing contributions.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8598.

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Date of creation: Oct 2011
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Handle: RePEc:cpr:ceprdp:8598

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Keywords: intrafirm trade; multinational firms; outsourcing; property rights;

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Cited by:
  1. Antràs, Pol & Chor, Davin, 2012. "Organizing the Global Value Chain," CEPR Discussion Papers 9018, C.E.P.R. Discussion Papers.
  2. Blyde, Juan & Molina, Danielken, 2013. "Logistics Infrastructure and the International Location of Fragmented Production," MPRA Paper 45749, University Library of Munich, Germany.
  3. Buehler, Stefan & Burghardt, Dirk, 2013. "Globalization and Vertical Structure: An Empirical Investigation," Economics Working Paper Series 1310, University of St. Gallen, School of Economics and Political Science.

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