Incomplete contracts And Vertically Integrated Multinational Enterprises
This paper conducts an empirical analysis of intra-firm trade for vertically integrated multinational enterprises (VMNEs). Within the context of incomplete contracts, the study attempts to explain cross-industry variations in the relative importance of intra firm trade. Using data for U.S. based multinationals from 1989 to 1996, it is found that the shares of U.S. intra-firm exports and imports are positively related to the non contractible a activities of U.S. intra-firm while they are negatively related to the non contractible activities of foreign affiliates. [F23, f10, L22]
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Volume (Year): 16 (2002)
Issue (Month): 1 ()
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- Grossman, Sanford J & Hart, Oliver, 1985.
"The Cost and Benefits of Ownership: A Theory of Vertical and Lateral Integration,"
CEPR Discussion Papers
70, C.E.P.R. Discussion Papers.
- Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
- Oliver Hart & Sanford Grossman, 1985. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Working papers 372, Massachusetts Institute of Technology (MIT), Department of Economics.
- Grossman, Sanford J. & Hart, Oliver D., 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Scholarly Articles 3450060, Harvard University Department of Economics.
- Lall, Sanjaya, 1978. "The Pattern of Intra-Firm Exports by U.S. Multinationals," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 40(3), pages 209-222, August.
- Andersson, Thomas & Fredriksson, Torbjorn, 2000. "Distinction between intermediate and finished products in intra-firm trade," International Journal of Industrial Organization, Elsevier, vol. 18(5), pages 773-792, July.
- Peter J Buckley, 1988. "The Limits of Explanation: Testing the Internalization Theory of the Multinational Enterprise," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 19(2), pages 181-193, June.
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