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

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  • Pol Antràs

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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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17470.

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Date of creation: Sep 2011
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Publication status: published as “Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production,” May 2012, forthcoming Journal of Law, Economics and Organization.
Handle: RePEc:nbr:nberwo:17470

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Cited by:
  1. 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.
  2. Pol Antràs & Davin Chor, 2013. "Organizing the Global Value Chain," Econometrica, Econometric Society, vol. 81(6), pages 2127-2204, November.
  3. Blyde, Juan & Molina, Danielken, 2013. "Logistics Infrastructure and the International Location of Fragmented Production," MPRA Paper 45749, University Library of Munich, Germany.

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