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The Multinational Firm

Author

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  • Stephen Ross Yeaple

    (Department of Economics, Pennsylvania State University, University Park, Pennsylvania 16802, and the National Bureau of Economic Research, Cambridge, Massachusetts 02138)

Abstract

This article documents the recent advances in the international trade literature toward understanding the role of multinational firms in the conduct of international commerce. Over the past 10 years, we have developed a better understanding of the incentives firms face in their choice of production location, and we know more about the incentives that induce firms to vertically integrate. Furthermore, the theory literature has progressed from two-country models that cannot capture the richness of multinational firms’ activities to multicountry models that do. The empirics have advanced as well but at a slower pace. Progress has been slowed by the lack of comprehensive data and the difficulties of distinguishing between the various mechanisms proposed by theory.

Suggested Citation

  • Stephen Ross Yeaple, 2013. "The Multinational Firm," Annual Review of Economics, Annual Reviews, vol. 5(1), pages 193-217, May.
    • Handle: RePEc:anr:reveco:v:5:y:2013:p:193-217
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    File URL: http://www.annualreviews.org/doi/abs/10.1146/annurev-economics-081612-071350
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    More about this item

    Keywords

    foreign direct investment; horizontal integration; vertical integration; internalization; offshoring;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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