reflections on production internalization and its international trade implications
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ID: 199416
2014
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Abstract
Vertically-integrated multinational companies place the different stages of production and marketing chain in
different countries, looking for advantages such as low production costs, lower taxes, abundant resources and so on,
while benefiting from the advantages of economies of scale, control of supplies or outlets. In fact, this vertical
integration of multinational companies has led to the expansion of intra-firm trade and "internalized" operations, thus
creating their own markets for the vertically-integrated production. Internationally active firms operate in a way that
replaces the different functions of an open market with internal transactions, i.e. intra-firm transactions, whenever
internal transaction costs are lower than the open-market ones. The direct consequence over international trade is the
increase of intra-firm share of trade flows to one third of world trade, those companies making a suppression of
international market segments that act in favour of an internal market. The creation of a multinational market and the
enhancement of intra-firm trade have profound quantitative and qualitative implications on the composition,
geographic orientation and dynamics of international trade.
This paper deals with the issue of production internalization, with an overview of the main contributions made
to the theory of internalization, while tackling its relative dimension. However, we intend to highlight the implications
of this phenomenon on international trade. The work methodology falls within the range of qualitative approaches:
logical argumentation, critical theoretical analysis.
| Reference Key |
2014analelereflections
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|---|---|
| Authors | ;CLIPA RALUCA IRINA |
| Journal | kastamonu eğitim dergisi |
| Year | 2014 |
| DOI |
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