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| Author: | Markusen, J. Venables, A. |
| Title: | The theory of endowment, intra-industry and multinational trade |
| Journal: | Journal of International Economics
2000 : DEC, VOL. 52:2, p. 209-234 |
| Index terms: | INTERNATIONAL ECONOMICS THEORIES TRADE |
| Language: | eng |
| Abstract: | The authors develop a monopolistic-competition model of international trade which includes positive trade costs and endogenous multinational firms. They demonstrate how the presence of trade costs changes the pattern of trade, creates incentives for factor mobility which may lead to agglomeration of activity in a single country, and may lead to multinational firms. The mix of national and multinational firms that operate in equilibrium depends on technology and on the division of the world endowment between countries. |
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