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Global Sourcing under Capital Markets

Carluccio, JF and Fally, T (2012) Global Sourcing under Capital Markets The Review of Economics and Statistics, 94 (3). pp. 740-763.

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Abstract

We develop a simple model to study the interactions between a supplier's financial constraints and contract incompleteness in a vertical relationship. Applied to the analysis of multinational firms' sourcing strategies, the model predicts: (i) that complex and specific inputs are more likely to be sourced from financially developed countries and (ii) that multinationals are more likely to integrate suppliers located in countries with poor financial institutions, especially when trade involves complex goods. These predictions are examined and validated using firm-level trade data on multinational firms with operations in France.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
AuthorsEmailORCID
Carluccio, JFUNSPECIFIEDUNSPECIFIED
Fally, TUNSPECIFIEDUNSPECIFIED
Date : 1 August 2012
Identification Number : 10.1162/REST_a_00219
Related URLs :
Additional Information : © 2012 MIT Press.
Depositing User : Symplectic Elements
Date Deposited : 20 Apr 2015 13:31
Last Modified : 20 Apr 2015 13:31
URI: http://epubs.surrey.ac.uk/id/eprint/807356

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