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The Determinants of Intra-Firm TradeGregory CorcosNorwegian School of Economics (NHH) - Department of Economics Delphine IracBanque de France Giordano MionCatholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE) Thierry VerdierParis School of Economics (PSE); Delta - Ecole Normale Superieure (ENS); Centre for Economic Policy Research (CEPR) November 2009 CEPR Discussion Paper No. DP7530 Abstract: How successful is the theory of the firm in explaining intra-firm trade? To answer this question we exploit a unique dataset of 1,141,393 French import transactions, spanning across firm, countries and products in 1999, and reporting whether a transaction is intra-firm. Overall, we find support for the main predictions of the partial equilibrium property-rights approach and further deliver facts that can be useful for further theoretical development. We document substantial within-industry heterogeneity while providing evidence of the importance of the firm dimension of sourcing choices as well as of the key distinction between the extensive and intensive margins.
Number of Pages in PDF File: 47 Keywords: extensive margin, firm heterogeneity, incomplete contracts, intensive margin, internationalization strategies, intra-firm trade, outsourcing, quality of institutions JEL Classification: F12, F19, F23 working papers seriesDate posted: November 17, 2009Suggested CitationContact Information
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