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Discussion Paper Details

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Title: Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production

Author(s): Pol Antr�s

Publication Date: October 2011

Keyword(s): intrafirm trade, multinational firms, outsourcing and property rights

Programme Area(s): Industrial Organization and International Trade and Regional Economics

Abstract: I survey the influence of Grossman and Hart's (1986) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization of production and the structure of international trade flows. I also review empirical work suggestive of the empirical relevance of the property-rights theory. Along the way, I develop novel theoretical results and also outline some of the key limitations of existing contributions.

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Bibliographic Reference

Antr�s, P. 2011. 'Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8598