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关于MNCs和InternationalInvestment的讲义C5_jan.pdf

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Chapter5of‘Multinationalfirmsintheworldeconomy’,G.Barba-NavarettiandA.J. VenableswithF.Barry,K.Ekholm,A.Falzoni,J.Haaland,K-H.MidelfartandA. Turrini. 21/01/04 Chapter5 Multinationals:theFirmandtheMarket Theinternationaloperationsoffirmscanbeorganizedinternally,inwhollyowned subsidiaries,orexternally,underarms’-lengthcontractswithindependentlocal producers.Multinationalenterprisesarisewhenfirmschoosetointernalizetheir activities,i.e.,toownthephysicalassetsusedintheiroperationsabroad,eventhough arms’-lengthcontractsmayofferlowersetupcostsandgreaterflexibility.Wereferto thesetwomodesofinternationalproductionasinternalisationandoutsourcing respectively.Whileintra-firmtradehasgrownfast,ithasbeensuggestedthatan increasingshareofinternationalproductionisnowtakingplacethroughoutsourcing ratherthaninternalisedinwhollyownedsubsidiaries.Forexample,inthecaseofNorth- Southproductionnetworksinareassuchastextiles,automotiveproductsandelectronics, aconsiderableshareoflabourintensiveactivitiesisoutsourcedbyNorthernfirmsto Southernproducers.TheshareofUSimportscomingfromaffiliatesofUS multinationalshasfallenslightly(Hanson,MataloniandSlaughter2002),suggestingthat foreignoutsourcingbyUSfirmsmighthaveoutpacedthegrowthofintra-firmtrade. Acomprehensivetheoryofthemultinationalfirmmustofferananalysisofthechoice betweeninternalisationandoutsourcing.Inasense,thetheoryofthemultinationalfirm isasub-caseofthetheoryoftheboundariesofthefirm–whatisdoneinternallyand whatisoutsourced1.Theseboundariesareusuallysetbytheinterplayoftwosortsof factors.Oneisthatoutsidecontractorsmayhaveanadvantage,relativetothefirm,in undertakingvariousactivities;theotheristhedifficultythatthefirmencountersin coordinatingandcontrollingtheactionsoflocalcontractors.Forexample,alarge 1 integratedfirmmayhaveanadvantageinits‘core’activities,andrelyingonlocalfirms mayincreasetheefficiencyinwhichavarietyofancillaryactivitiesarecarriedout. However,alocalfirmwillhaveitsownobjectives,generallydifferentfromthoseofthe parentco