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The Organization of Production and Economic Development

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Author Info
Lewis S. Davis () (Department of Economics, SUNY-Oswego)
Abstract

A formalization of the Coase-Williamson-Cheung theory of the firm is used to examine the trade-off between the firm and the market as institutions for organizing production in a dynamic, general equilibrium model with increasing returns to labor specialization. The model considers the interaction of internal and external transaction costs and the gains to labor specialization in determining important aspects of the organization of production including the degree of labor specialization, the size and specialization of firms and the pattern of interfirm trade. Endogenous growth is driven by capital accumulation and the division of labor. The evolution of economic organization is characterized by increases in labor specialization, interfirm trade, firm specialization (vertical disintegration) and firm employment.

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File URL: http://kane-new.oswego.edu/papers/div_lab_firm.pdf
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Publisher Info
Paper provided by Department of Economics, SUNY-Oswego in its series Departmental Working Papers with number 199802.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length: 37 pages
Date of creation: 01 Dec 1998
Date of revision: 01 Dec 1998
Handle: RePEc:nyo:oswaaa:199802

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Postal: Department of Economics, SUNY-Oswego, Oswego, NY 13126, U.S.
Phone: 315-312-2175
Fax: 315-312-5444
Email:
Web page: http://www.oswego.edu/~economic/
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Related research
Keywords: development endogenous growth labor specialization dynamic model institutions division of labor growth transactions costs coordination coordination costs contract enforcement organization neoinstitutionalism traditional economy interpersonal exchange theory of the firm interpersonal exchange

Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

This paper has been announced in the following NEP Reports:

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  3. Jones, Larry E & Manuelli, Rodolfo E, 1990. "A Convex Model of Equilibrium Growth: Theory and Policy Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1008-38, October. [Downloadable!] (restricted)
  4. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June. [Downloadable!] (restricted)
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  5. Baumgardner, James R, 1988. "The Division of Labor, Local Markets, and Worker Organization," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 509-27, June. [Downloadable!] (restricted)
  6. Gary S. Murphy Becker & Kevin M., 1992. "The Division of Labor, Coordination Costs, and Knowledge," University of Chicago - George G. Stigler Center for Study of Economy and State 79, Chicago - Center for Study of Economy and State.
    Other versions:
  7. Rosen, Sherwin, 1983. "Specialization and Human Capital," Journal of Labor Economics, University of Chicago Press, vol. 1(1), pages 43-49, January. [Downloadable!] (restricted)
  8. Yang, Xiaokai & Borland, Jeff, 1991. "A Microeconomic Mechanism for Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 460-82, June. [Downloadable!] (restricted)
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  10. Krugman, Paul, 1994. "Complex Landscapes in Economic Geography," American Economic Review, American Economic Association, vol. 84(2), pages 412-16, May. [Downloadable!] (restricted)
  11. Cheung, Steven N S, 1983. "The Contractual Nature of the Firm," Journal of Law & Economics, University of Chicago Press, vol. 26(1), pages 1-21, April.
  12. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542. [Downloadable!]
  13. Robert E. Lucas, Jr., 1989. "On the Mechanics of Economic Development," NBER Reprints 1176, National Bureau of Economic Research, Inc.
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  14. King, Robert G & Rebelo, Sergio, 1990. "Public Policy and Economic Growth: Developing Neoclassical Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S126-50, October. [Downloadable!] (restricted)
    Other versions:
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