International Share Ownership, Profit Shift and Protectionism
AbstractThis paper examines the implications of increasing globalisation of stock market ownership on the economics of protection. Current data on European stock exchanges indicate that over 30 per cent of the stock market is foreign-owned in most cases, a large increase on a couple of decades ago.This degree of foreign share-ownership is likely to change qualitatively the nature of the response of governments to FDI and support for 'domestic' firms. In particular, two worked examples, based upon duopoly theory, suggest that the level of foreign share-ownership is sufficient to render protection unattractive.
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Bibliographic InfoPaper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2006_15.
Date of creation: Aug 2006
Date of revision:
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Trade; Oligopoly; Capital Ownership.;
Find related papers by JEL classification:
- F10 - International Economics - - Trade - - - General
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-16 (All new papers)
- NEP-FMK-2006-09-16 (Financial Markets)
- NEP-INT-2006-09-16 (International Trade)
- NEP-KNM-2006-09-16 (Knowledge Management & Knowledge Economy)
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