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| Author: | Wes, M. |
| Title: | International trade, bargaining and efficiency: the holdup problem |
| Journal: | Scandinavian journal of economics
2000 : VOL. 102:1, p. 151-162 |
| Index terms: | ECONOMICS IMPERFECT COMPETITION INTERNATIONAL TRADE |
| Language: | eng |
| Abstract: | In the presence of product market imperfections and holdup, the authors identify allocative and productive efficiency gains resulting from international trade. Under a bilateral monopoly in a closed economy, inefficiencies arise in both input and output markets. Trade in final goods has a procompetitive effect in the product market. This in return triggers an increase in output, which raises incentives for the upstream firm to invest and helps reduce the hold-up problem. |
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