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National champions and globalization

Author

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  • Jens Südekum

Abstract

In this paper, we offer an explanation why globalization (falling trade costs) may increase the government incentive to block foreign takeover of domestic firms and increase its incentive to allow mergers among national firms. This creation of `national champions' occurs not only because the government may have a bias against foreign takeover, but also because consumer welfare gains associated with foreign acquisitions decrease with globalization. Endogenizing the government bias through lobbying efforts of the domestic firms, the paper shows that the bias does not need to be very strong before the government promotes domestic champions provided that barriers to trade are low.

Suggested Citation

  • Jens Südekum, 2010. "National champions and globalization," Canadian Journal of Economics, Canadian Economics Association, vol. 43(1), pages 204-231, February.
    • Handle: RePEc:cje:issued:v:43:y:2010:i:1:p:204-231
    DOI: 10.1111/j.1540-5982.2009.01569.x
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    Cited by:

    1. Kulam, Adam, 2021. "US Community Development Capital Initiative (CDCI)," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 3(3), pages 786-820, April.
    2. Givens, Austen D. & Busch, Nathan E., 2013. "Realizing the promise of public-private partnerships in U.S. critical infrastructure protection," International Journal of Critical Infrastructure Protection, Elsevier, vol. 6(1), pages 39-50.
    3. Petrescu-Mag, Ruxandra Mălina & Petrescu, Dacinia Crina & Azadi, Hossein & Petrescu-Mag, Ioan Valentin, 2018. "Agricultural land use conflict management—Vulnerabilities, law restrictions and negotiation frames. A wake-up call," Land Use Policy, Elsevier, vol. 76(C), pages 600-610.

    More about this item

    JEL classification:

    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods

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