Firm integration strategies and imperfect labour markets
本文构建三国模型，引入劳动力市场不完全性，研究开放经济中企业整合策略（内部生产vs外包、出口vs对外投资）的决定因素，并分析其对发展中国家融入全球市场及福利的影响。
Abstract This paper introduces labour market imperfections into a three‐country model to study the determinants of firm integration strategies in an open economy. Accounting simultaneously for the decision upon in‐house production versus international outsourcing and the decision upon exporting versus horizontal foreign investment, the analysis points to a crucial role of labour market frictions for the interaction of vertical and horizontal aspects of firm integration strategies in a general equilibrium environment. Beyond that, the analysis sheds light on the consequences of integrating developing countries into the global market, thereby pointing to hitherto unexplored effects arising from adjustments of firm integration strategies. In a welfare analysis, we show that the existence of gains from trade crucially depends on whether firm integration strategies are endogenous or not.