Mehr lesen
Zusatztext "[This book] is an extremely welcome addition to the literature and profession. . . . [Multinational Firms in the World Economy] fills a very important niche of bringing together our current knowledge of multinational firm behavior and their economic effects on parent and host countries." ---Bruce A. Blonigen! Journal of International Economics Informationen zum Autor Giorgio Barba Navaretti & Anthony J. VenablesWith Frank G. Barry, Karolina Ekholm, Anna M. Falzoni, Jan I. Haaland, Karen Helene Midelfart, & Alessandro Turrini Klappentext Depending on one's point of view, multinational enterprises are either the heroes or the villains of the globalized economy. Governments compete fiercely for foreign direct investment by such companies, but complain when firms go global and move their activities elsewhere. Multinationals are seen by some as threats to national identities and wealth and are accused of riding roughshod over national laws and of exploiting cheap labor. However, the debate on these companies and foreign direct investment is rarely grounded on sound economic arguments. This book brings clarity to the debate. With the contribution of other leading experts, Giorgio Barba Navaretti and Anthony Venables assess the determinants of multinationals' actions, investigating why their activity has expanded so rapidly, and why some countries have seen more such activity than others. They analyze their effects on countries that are recipients of inward investments, and on those countries that see multinational firms moving jobs abroad. The arguments are made using modern advances in economic analysis, a case study, and by drawing on the extensive empirical literature that assesses the determinants and consequences of activity by multinationals. The treatment is rigorous, yet accessible to all readers with a background in economics, whether students or professionals. Drawing out policy implications, the authors conclude that multinational enterprises are generally a force for the promotion of prosperity in the world economy. Zusammenfassung Multinational enterprises are either the heroes or the villains of the globalized economy. This book assesses the determinants of multinationals' actions, investigating why their activity has expanded so rapidly, and why some countries have seen more such activity than others. It is intended for students and professionals. Inhaltsverzeichnis Preface ix List of Contributors xi CHAPTER 1: Facts and Issues 1 1.1 Multinationals: What Are They and How Are They Measured? 2 1.2 The Facts: Empirical Overview 3 1.3 The Issues 15 1.4 Guide to the Book 20 Statistical Appendix 20 CHAPTER 2: The Multinational Enterprise: an Overview of Theory and Empirical Findings 23 2.1 National and International Production 24 2.2 Internalization and the Boundary of the Firm 35 2.3 Effects of FDI 39 2.4 Conclusions 47 CHAPTER 3: Horizontal Foreign Direct Investment: Product Market Access 49 3.1 A Model 49 3.2 National versus Multinational Supply 55 3.3 Demand and Firm Behaviour 64 3.4 The Effect of FDI on the Host Economy 66 3.5 Extensions 74 3.6 Conclusions 77 Appendix 3.1. Parameters Underlying Figures 78 Appendix 3.2. Section 3.5.1 78 CHAPTER 4: Vertical Foreign Direct Investment: Input Costs and Factor Prices 79 4.1 Cost-Minimizing Locations 80 4.2 Fragmentation and Factor Prices 84 4.3 Fragmentation in General Equilibrium 89 4.4 Factor Price Convergence? 92 4.5 Conclusions 96 Appendix 4.1. Parameter Values in Figures 4.1 and 4.2 97 Appendix 4.2. Parameter Values in Figure 4.6 97 Appendix 4.3. Components Labour Intensive 97 CHAPTER 5: Multinationals: the Firm and the Market 99 5.1 An Analytical Framework 100 5.2 Hold-up 102 5.3 Hold-up in Industry Equilibrium 109 5.4 Dissipation of Intangible Assets 114 5.5 Agency Costs 120 5.6 Conclusions 124 Appendix 126 CHAPTER 6: Determinants ...
