Accounting for the growth of MNC-based trade using a structural model of US MNCs

被引:46
作者
Feinberg, Susan E. [1 ]
Keane, Michael P.
机构
[1] Rutgers State Univ, Rutgers Business Sch, Newark, NJ 07102 USA
[2] Yale Univ, Dept Econ, New Haven, CT 06520 USA
关键词
D O I
10.1257/aer.96.5.1515
中图分类号
F [经济];
学科分类号
02 ;
摘要
In recent decades, U.S. foreign trade grew much faster than GDP, but there is no consensus why. Notably lacking is an understanding of the role of multinational corporations (MNCs), which mediate over half of world trade. We use Bureau of Economic Analysis data on U.S. MNCs to study, the rapid growth of MNC-based trade from 1983 to 1996. Using a model of U.S. MNCs and Canadian affiliates, we decompose this growth by source. Tariff reductions can largely explain increases in arms-length MNC-based trade. But intra-firm trade growth is attributed mostly to "technical change." We present additional evidence suggesting just-in-time production facilitated intra-firm trade.
引用
收藏
页码:1515 / 1558
页数:44
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