A Simple Model of Foreign Brand Penetration with Multi-product Firms PDF Download
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Author: Tōru Kikuchi
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
Author: Tōru Kikuchi
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
Author: Rajat Acharyya
Publisher: Springer Science & Business Media
ISBN: 8132211510
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
This book was written in honour of Professor Kalyan K. Sanyal, who was an excellent educator and renowned scholar in the field of international economics. One of his research papers co-authored with Ronald Jones, entitled “The Theory of Trade in Middle Products” and published in American Economic Review in 1982, was a seminal work in the field of international trade theory. This paper would go on to inspire many subsequent significant works by researchers across the globe on trade in intermediate goods. The larger impact of any paper, beyond the number of citations, lies in terms of the passion it sparks among younger researchers to pursue new questions. Measured by this yardstick, Sanyal’s contribution in trade theory will undoubtedly be regarded as historic. After completing his Ph.D. at the University of Rochester he joined the Department of Economics at Calcutta University in the early 1980s and taught trade theory there for almost three decades. His insights, articulation and brilliance in teaching international economics have influenced and shaped the intellectual development of many of his students. After his sudden passing in February 2012, his students and colleagues organized a symposium in his honour at the Department of Economics, Jadavpur University from April 19 to 20, 2012. This book, a small tribute to his intellect and contribution, has been a follow-up on that endeavour, and a collective effort of many people including his teachers, friends, colleagues and students. In a nutshell it discusses intermediation of various kinds with significant implications for market integration through trade and finance. That trade can generate many non-trade-service sector links has recently emerged as a topic of growing concern and can trace its lineage back to the idea of the middle product, a recurring concept in Prof. Sanyal’s work.
Author: Stephen Ross Yeaple
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
A growing literature seeks to understand how the characteristics of firms shape the manner in which they serve foreign markets. We consider an environment in which multiproduct firms can sell their products in multiple countries from multiple locations. We show that there are strong empirical regularities in the expansion strategies of U.S. multinational firms and that simple extensions of standard models do not explain these regularities. We augment these models by introducing a framework in which organizational capital is a scarce input within the firm that has to be allocated to particular products and production locations and show that the standard model, so amended, is consistent with the data. We then use the model to analyze the productivity effect of changes in international frictions both within and across firms.
Author: S. Lael Brainard
Publisher: Forgotten Books
ISBN: 9781330415535
Category : Business & Economics
Languages : en
Pages : 41
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Book Description
Excerpt from A Simple Theory of Multinational Corporations and Trade With a Trade-Off Between Proximity and Concentration This paper develops a two-sector, two-country model, where firms in a differentiated products sector choose between exporting and multinational expansion as alternative modes of foreign market penetration, based on a trade-off between proximity and concentration advantages. The differentiated sector is characterized by multi-stage production, with increasing returns at the firm level, due to some activity such as R&D that can be spread among any number of production facilities with undiminished value, scale economies at the plant level, and a variable transport cost that rises with distance. A pure multinational equilibrium, where two-way intraindustry trade in intangibles completely supplants two-way trade in differentiated products, is possible even in the absence of factor proportion differences. It is more likely the greater are transport costs relative to the fixed cost of production, and the greater are increasing returns at the firm level relative to the plant level. The model also examines how the pattern of trade and production varies with additional stages of production. I am grateful to Paul Krugman and Julio Rotemberg for helpful discussions, and to the National Science Foundation for support under grant SES-9111649. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: S. Lael Brainard
Publisher:
ISBN:
Category : International business enterprises
Languages : en
Pages : 60
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Book Description
This paper develops a two-sector, two-country model, where firms in a differentiated products sector choose between exporting and multinational expansion as alternative modes of foreign market penetration, based on a trade-off between proximity and concentration advantages. The differentiated sector is characterized by multi-stage production, with increasing returns at the corporate level associated with some activity such as R&D, scale economies at the plant level, and a variable transport cost that rises with distance. A pure multinational equilibrium, where two-way horizontal expansion across borders completely supplants two-way trade in differentiated products, is possible even in the absence of factor proportion differences. It is more likely the greater are transport costs relative to fixed plant costs, and the greater are increasing returns at the corporate level relative to the plant level. The model also establishes conditions for a mixed equilibrium, in which national and multinational firms coexist.
Author: Kalina Manova
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 0
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Book Description
We examine the global operations of multi-product firms. We present a flexible heterogeneous-firm trade model with either limited or strong scope for quality differentiation. Using customs data for China during 2002-2006, we empirically establish that firms allocate activity across products in line with a product hierarchy based on quality. Firms vary output quality across their products by using inputs of different quality levels. Their core competence is in varieties of superior quality that command higher prices but nevertheless generate higher sales. In markets where they offer fewer products, firms concentrate on their core varieties by dropping low-quality peripheral goods on the extensive margin and by shifting sales towards top-quality products on the intensive margin. The product quality ladder also governs firms ' export dynamics, both in general and in response to the exogenous removal of MFA quotas on textiles and apparel. Our results inform the drivers and measurement of firm performance, the effects of trade reforms, and the design of development policies.
Author: Van Pham
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Kalina Manova
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 45
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Book Description
We examine the global operations of multi-product firms. We present a flexible heterogeneous-firm trade model with either limited or strong scope for quality differentiation. Using customs data for China during 2002-2006, we empirically establish that firms allocate activity across products in line with a product hierarchy based on quality. Firms vary output quality across their products by using inputs of different quality levels. Their core competence is in varieties of superior quality that command higher prices but nevertheless generate higher sales. In markets where they offer fewer products, firms concentrate on their core varieties by dropping low-quality peripheral goods on the extensive margin and by shifting sales towards top-quality products on the intensive margin. The product quality ladder also governs firms' export dynamics, both in general and in response to the exogenous removal of MFA quotas on textiles and apparel. Our results inform the drivers and measurement of firm performance, the effects of trade reforms, and the design of development policies.
Author: Peter Stimpson
Publisher: Cambridge University Press
ISBN: 110760477X
Category : Business & Economics
Languages : en
Pages : 251
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Book Description
Cambridge International AS and A Level Business Studies Revision Guide has been designed specifically to meet the requirements of the Cambridge syllabus.
Author: Jean-Marc Natal
Publisher: International Monetary Fund
ISBN: 1498311415
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
We argue that strong globalization forces have been an important determinant of global real interest rates over the last five decades, as they have been key drivers of changes in the natural real interest rate—i.e. the interest rate consistent with output at its potential and constant inflation. An important implication of our analysis is that increased competition in goods and labor market since the 1970s can help explain both the large increase in real interest rates up to the mid-1980s and—as globalization forces mature and may even go into reverse, leading to incrementally rising market power—its subsequent and protracted decline accompanied by lower inflation. The analysis has important implications for monetary policy and the optimal pace of normalization.
