Organizing Global Supply Chains: Input-Output Linkages and Vertical Integration
利用法国国际贸易数据和工具变量方法，研究发现跨国公司倾向于纵向整合技术重要性高的投入品，并用一个包含事前和事后无效率的不完全契约模型解释这一现象。
Abstract We study how the technological importance of inputs—measured by cost shares—is related to the decision to “make” or “buy” that input. Using detailed French international trade data and an instrumental variable approach based on self-constructed input–output tables, we show that multinationals vertically integrate technologically important inputs. A stylized incomplete contracting model with both ex-ante and ex-post inefficiencies explains why: Technologically more important inputs are “made” when transaction cost economics type forces overpower property rights type forces. However, additional results show that both types of forces are needed to explain the full patterns in the data.