haku: @author Sleuwaegen, L. / yhteensä: 10
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| Tekijä: | Sleuwaegen, L. Backer, K. de |
| Otsikko: | Multinational Firms, Market Integration, and Trade Structure: What Remains of the Standard-Goods Hypothesis? |
| Lehti: | Weltwirtschaftliches Archiv
2001 : VOL. 137:3, p. 379-403 |
| Asiasana: | MULTINATIONAL COMPANIES TRADE MARKETS |
| Kieli: | eng |
| Tiivistelmä: | For Belgium, a small open economy with a large multinational presence, the role of multinational firms in the export specialization is of crucial importance and previous studies appeared to have produced seriously biased results by neglecting it. In particular, the results show how the large multinational presence induced by the formation of a Common European market has shifted Belgium's trade structure towards differentiated products. Hence, the standard-goods hypothesis as originally articulated by J. Dreze is no longer appropriate to describe the trade composition of Belgium. The paper has also shown evidence that this result carries over to other small open economies like Ireland and Spain, both characterized by a small number of own home-based multinationals and a large inflow of foreign direct investment after joining the EC. |
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