“Globalization” and Vertical Structure
分析国际开放对纵向一体化的影响，指出一体化可能带来负外部性，而国际开放能加厚市场、促进更精简的企业，从而解释全球化下的外包、精简和“日本化”现象。
This paper analyzes the effects of international openness on vertical integration. Vertical integration can confer a negative externality, by thinning the market for inputs and thus worsening opportunism problems; this induces strategic complementarity and multiple equilibria in the integration decision, thus providing a theory of different “industrial systems” or “industrial cultures” in ex ante identical countries. International openness thickens the market, facilitating leaner, less integrated firms, thus providing gains from international openness quite different from those that are familiar from trade theory. This may be taken as one theory of “outsourcing,” “downsizing,” and “Japanization” as consequences of “globalization.”