| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4265 |
| DP4265 Credit Risk Transfer and Financial Sector Performance | |
| Ian W Marsh; Wolf Wagner | |
| 发表日期 | 2004-02-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We present a North-South model of international trade in which differentiated products are developed in the North. Sectors are populated by final-good producers who differ in productivity levels. Based on productivity and sectoral characteristics, firms decide whether to integrate into the production of intermediate inputs or outsource them. In either case they have to decide from which country to source the inputs. Final-good producers and their suppliers must make relationship-specific investments, both in an integrated firm and in an arm?s-length relationship. We describe an equilibrium in which firms with different productivity levels choose different ownership structures and supplier locations, i.e., they choose different organizational forms. We then study the effects of within-sectoral heterogeneity and variations in industry characteristics on the relative prevalence of these organizational forms. The analysis sheds light on the structure of foreign trade within and across industries. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Trade in intermediate inputs Imperfect contracting Property rights Multinational firms |
| URL | https://cepr.org/publications/dp4265 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533231 |
| 推荐引用方式 GB/T 7714 | Ian W Marsh,Wolf Wagner. DP4265 Credit Risk Transfer and Financial Sector Performance. 2004. |
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