1267:) attempts to define the firm theoretically in relation to the market. Coase sets out to define a firm in a manner which is both realistic and compatible with the idea of substitution at the margin, so instruments of conventional economic analysis apply. He notes that a firmâs interactions with the market may not be under its control (for instance because of sales taxes), but its internal allocation of resources are: âWithin a firm, ... market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur ... who directs production.â He asks why alternative methods of production (such as the
778:
124:
production. Two countries could both benefit from trade if each had a relative advantage in production. Relative advantage simply meant that the ratio of the labor embodied in the two commodities differed between two countries, such that each country would have at least one commodity where the relative amount of labor embodied would be less than that of the other country.
1085:
foreign operations from culturally and/or geographically close countries and move gradually to culturally and geographically more distant countries; firms start their foreign operations by using traditional exports and gradually move to using more intensive and demanding operation modes (sales subsidiaries etc.) both at the company and target country level.
46:
sustainability of its development in different manufacturing as well as service sectors especially in higher education which is a very important context that needs internationalization to bridge the gap between different cultures and countries. There are several internationalization theories which try to explain why there are international activities.
986:
corporations in other countries. Neoclassical theories, dominant at the time, explained foreign direct investments as capital movements across borders based on perceived benefits from interest rates in other markets, there was no need to separate them from any other kind of investment (Ietto-Guilles, 2012).
1084:
The
Uppsala model is a theory that explains how firms gradually intensify their activities in foreign markets. It is similar to the POM model. The key features of both models are the following: firms first gain experience from the domestic market before they move to foreign markets; firms start their
1065:
The technology gap theory describes an advantage enjoyed by the country that introduces new goods in a market. As a consequence of research activity and entrepreneurship, new goods are produced and the innovating country enjoys a monopoly until the other countries learn to produce these goods: in the
1009:
Stephen Hymer can be considered the father of international business because he effectively studied multinationals from a different perspective than the existing literature, by approaching multinationals as national companies with international operations, regarded as expansions from home operations.
715:
According to Hymer, market imperfections are structural, arising from structural deviations from perfect competition in the final product market due to exclusive and permanent control of proprietary technology, privileged access to inputs, scale economies, control of distribution systems, and product
933:
Foreign direct investment (FDI) in its classic form is defined as a company from one country making a physical investment into building a factory in another country. It is the establishment of an enterprise by a foreigner. Its definition can be extended to include investments made to acquire lasting
1099:
The
Updated Uppsala model is a further progression of the original Uppsala model. Like the Uppsala model, the Updated Uppsala model is a theory that explains firm internationalization as a process of gradual commitment. However, instead of an increased commitment to other markets, the theory posits
997:
Stephen Hymer also suggested a second determinant for firms engaging in foreign operations, removal of conflicts. When a rival company is operating in a foreign market or is willing to enter one, a conflict situation arises. Through FDI, a multinational can share or take complete control of foreign
989:
He effectively differentiated
Foreign Direct Investment and portfolio investments by including the notion of control of foreign firms to FDI Theory, which implies control of the operation; whilst portfolio foreign investment confers a share of ownership but not control. Stephen Hymer focused on and
1108:
The
Learning Portal Model is a new theory that was originally developed to explain the emergence and catch-up of multinational firms from the emerging markets. The theory explains that latecomer firms (from both, advanced and emerging markets) can use springboarding strategies to leapfrog certain
993:
He also dismissed the assumption that FDIs are motivated by the search of low costs in foreign countries, by emphasizing the fact that local firms are not able to compete effectively against foreign firms, even though they have to face foreign barriers (cultural, political, lingual etc.) to market
692:
Market imperfection can be defined as anything that interferes with trade. This includes two dimensions of imperfections. First, imperfections cause a rational market participant to deviate from holding the market portfolio. Second, imperfections cause a rational market participant to deviate from
54:
Those entrepreneurs who are interested in the field of internationalization of business need to possess the ability to think globally and have an understanding of international cultures. By appreciating and understanding different beliefs, values, behaviors and business strategies of a variety of
87:
Adam Smith claimed that a country should specialise in, and export, commodities in which it had an absolute advantage. An absolute advantage existed when the country could produce a commodity with less costs per unit produced than could its trading partner. By the same reasoning, it should import
45:
is the process of increasing involvement of enterprises in international markets, although there is no agreed definition of internationalization. Internationalization is a crucial strategy not only for companies that seek horizontal integration globally but also for countries that addresses the
685:. Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that can be improved upon from the societal point of view. The first known use of the term by economists was in 1958, but the concept has been traced back to the Victorian philosopher
1298:
While at Johns
Hopkins, Penrose participated in a research project on the growth of firms. She came to the conclusion that the existing theory of the firm was inadequate to explain how firms grow. Her insight was to realise that the 'Firm' in theory is not the same thing as 'flesh and blood'
985:
Prior to
Stephen Hymerâs doctoral thesis, The International Operations of National Firms: A Study of foreign direct Investment, theories did not adequately explain why firms engaged in foreign operations. Hymer started his research by analyzing the motivations behind foreign investment of US
123:
David
Ricardo argued that a country does not need to have an absolute advantage in the production of any commodity for international trade between it and another country to be mutually beneficial. Absolute advantage meant greater efficiency in production, or the use of less labor factor in
1010:
He analyzed the activities of the MNEs and their impact on the economy, gave an explanation for the large flow of foreign investments by US corporations at a time where they were incomplete, and envisioned the ethical conflicts that could arise from the increase in power of MNEs.
994:
entry. He suggested that firms invest in foreign countries in order to maximize their specific firm advantages in imperfect markets, that is, markets where the flow of information is uneven and allows companies to benefit from a competitive advantage over the local competition.
724:
are inherent attributes of markets, and MNEs are institutions to bypass these imperfections. Markets experience natural imperfections, i.e. imperfections that are because the implicit neoclassical assumptions of perfect knowledge and perfect enforcement are not realized.
1109:
technological development stages and accelerate their catchâup with incumbent leading firms in their industry. To do so, the catching-up firms establish learning portals in knowledge hubs to acquire knowledge and assets, which they exploit to compete in global markets.
1005:
All of these motivations for FDI are built on market imperfections and conflict. A firm engaging in direct investment could then reduce competition, eliminate the conflicts and exploit the firm specific advantages making them capable of succeeding in a foreign market.
750:
New Trade theorists challenge the assumption of diminishing returns to scale, and some argue that using protectionist measures to build up a huge industrial base in certain industries will then allow those sectors to dominate the world market (via a network effect).
1230:
consisting of four stages: "new product", "growth product", "maturity product" and "obsolescence product". The conditions in which a product is sold change over time and must be managed as it moves through this succession of stages. This is called
1001:
A final determinant for multinationals making direct investments is the distribution of risk through diversification. By choosing different markets and production locations, the risk inherent to foreign operations are spread and reduced.
1144:
had failed because they neglected that management style and organizational structure were influenced by various aspects of the environment: the contingency factors. There could not be "one best way" for leadership or organization.
1100:
that firms commit to business networks. Firms thereby utilize the established relationships with other firms to internationalize within their network, e.g. by localizing production at a foreign production site of the client.
977:
The monopolistic advantage theory is an approach in international business which explains why firms can compete in foreign settings against indigenous competitors and is frequently associated with the seminal contribution of
95:
with absolute advantage, comparative advantage extends the range of possible mutually beneficial exchanges. In other words, it is not necessary to have an absolute advantage to gain from trade, only a comparative advantage.
469:
endowments of a trading region. The model essentially says that countries will export products that utilize their abundant and cheap factor(s) of production and import products that utilize the countries' scarce factor(s).
719:
By contrast, the insight of transaction costs theories of the MNEs, simultaneously and independently developed in the 1970s by McManus (1972), Buckley and Casson (1976), Brown (1976) and
Hennart (1977, 1982), is that
595:
patterns. The hypothesis is that the more similar are the demand structures of countries the more they will trade with one another. Further, international trade will still occur between two countries having identical
1033:
The non-availability explains international trade by the fact that each country imports the goods that are not available at home. This unavailability may be due to lack of natural resources (oil, gold, etc.: this is
55:
companies within other countries, entrepreneurs will be able to internationalize successfully. Entrepreneurs must also have an ongoing concern for innovation, maintaining a high level of quality, be committed to
638:
generally — on the assumption that agents act in their own self-interest. Thus firms choose locations that maximize their profits and individuals choose locations, that maximize their utility.
239:
1128:
Contingency theory refers to any of a number of management theories. Several contingency approaches were developed concurrently in the late 1960s. They suggested that previous theories such as
765:
In this model, labour mobility between industries is possible while capital is immobile between industries in the short-run. Thus, this model can be interpreted as a 'short run' version of the
998:
production, effectively removing conflict. This will lead to the increase of market power for the specific firm, increasing imperfections in the market as a whole (Ietto-Guilles, 2012)
747:. Some economists have asked whether it might be effective for a nation to shelter infant industries until they had grown to a sufficient size large enough to compete internationally.
1398:
Adel, H. M.; Zeinhom, G. A.; Mahrous, A. A. (2018). "Effective management of an internationalization strategy: A case study on
EgyptianâBritish universities' partnerships".
934:
interest in enterprises operating outside of the economy of the investor. The FDI relationship consists of a parent enterprise and a foreign affiliate which together form a
693:
his preferred risk level. Market imperfections generate costs which interfere with trades that rational individuals make (or would make in the absence of the imperfection).
1038:
unavailability) or to the fact that the goods cannot be produced domestically, or could only be produced at prohibitive costs (for technological or other reasons): this is
901:. This theory says that transactions are made within an institution if the transaction costs on the free market are higher than the internal costs. This process is called
1936:
300:
385:
357:
328:
266:
893:
The eclectic paradigm is a theory in economics and is also known as the OLI-Model. It is a further development of the theory of internalization and published by
1188:, are the cost advantages that a business obtains due to expansion. They are factors that cause a producerâs average cost per unit to fall as output rises.
398:
to evaluate the impact of treaties and alliances on trade, and it has been used to test the effectiveness of trade agreements and organizations such as the
634:, and spatial economics. Location theory addresses the questions of what economic activities are located where and why. Location theory rests — like
59:, and continue to strive to provide the best business strategies and either goods or services possible while adapting to different countries and cultures.
870:, writing that "Diffusion is the process by which an innovation is communicated through certain channels over time among the members of a social system."
1275:), could not either achieve all production, so that either firms use internal prices for all their production, or one big firm runs the entire economy.
473:
The results of this work have been the formulation of certain named conclusions arising from the assumptions inherent in the model. These are known as:
1257:
which describe the nature of the firm, company, or corporation, including its existence, its behaviour, and its relationship with the market.
2202:
2076:
1382:
1332:
31:
839:
The Porter thesis is that these factors interact with each other to create conditions where innovation and improved competitiveness occurs.
2542:
2079:. By that time, his ideas had already found widespread acceptance. Springer (Zentrum fßr Europäische Wirtschaftsforschung). p. 48.
399:
1575:
1159:
In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of
2370:"Internationalization within networks: Exploring the relationship between inward and outward FDI in China's auto components industry"
2467:
2262:
2229:
2171:
2144:
2114:
2084:
2049:
1984:
1910:
1873:
1827:
1795:
1764:
1733:
1702:
1670:
1510:
1483:
1449:
2447:
1964:
1616:
56:
2075:(1976); Hymer's original thesis was completed in 1960, but it was only after his death, in 1976, that it was published by the
163:
measurements) and distance between two units. The basic theoretical model for trade between two countries takes the form of:
487:
2332:"The Uppsala model on evolution of the multinational business enterprise: From internalization to coordination of networks"
918:
Internalisation advantages (advantages by producing through a partnership arrangement such as licensing or a joint venture)
1342:
1232:
972:
454:
169:
1066:
meantime they have to import them. Thus, international trade is created for the time necessary to imitate the new goods (
2483:
2000:
1337:
477:
2286:"The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership"
2025:
943:
670:
1050:
908:
For
Dunning, not only the structure of organization is important. He added three additional factors to the theory:
2331:
626:
Location theory is concerned with the geographic location of economic activity; it has become an integral part of
428:
1217:
1028:
935:
928:
697:
564:-intensive commodities and imported capital-intensive commodities, in contradiction with Heckscher-Ohlin theory.
492:
2498:
1272:
1137:
947:
853:
739:
New Trade Theory (NTT) is the economic critique of international free trade from the perspective of increasing
572:
403:
1299:
organizations that businessmen call firms. This insight eventually led to the publication of her second book,
1662:
1352:
1322:
1264:
705:
650:
609:
549:
442:
395:
148:
2499:"International Investment and International Trade in the Product Cycle. in: Quarterly Journal of Economics"
1206:
1160:
682:
142:
813:, where he published his theory of why particular industries become competitive in particular locations.
1192:
are the opposite. Economies of scale may be utilized by any size firm expanding its scale of operation.
1189:
1141:
766:
605:
466:
462:
114:
946:(IMF) defines control in this case as owning 10% or more of the ordinary shares or voting power of an
951:
1327:
1094:
1079:
760:
592:
545:
523:
438:
118:
2477:
2389:
2305:
1994:
1756:
1556:
1415:
1312:
1244:
1227:
1181:
1123:
674:
627:
561:
482:
82:
912:
Ownership advantages (trademark, production technique, entrepreneurial skills, returns to scale)
2459:
1976:
2506:
2463:
2369:
2258:
2225:
2198:
2167:
2140:
2110:
2080:
2045:
1980:
1906:
1869:
1823:
1791:
1760:
1729:
1698:
1666:
1506:
1479:
1445:
1378:
1268:
1164:
1042:
unavailability. On the other hand, each country exports the goods that are available at home.
888:
582:
530:
2451:
2427:
2381:
2343:
2297:
1968:
1548:
1407:
1248:
1176:
898:
740:
734:
654:
631:
601:
557:
513:
503:
92:
1582:
278:
1254:
1154:
894:
878:
621:
2285:
369:
341:
312:
250:
1787:
1223:
1185:
1060:
950:
firm or its equivalent for an unincorporated firm; lower ownership shares are known as
915:
Locational advantages (existence of raw materials, low wages, special taxes or tariffs)
863:
806:
790:
744:
686:
664:
635:
156:
27:
In economics, process of increasing involvement of enterprises in international markets
1627:
2536:
2452:
2166:. Johanson & Wiedersheim-Paul (1975), Johanson & Vahlne (1977). p. 261.
2072:
1969:
1658:
1419:
1317:
1293:
1283:
1263:
set out his transaction cost theory of the firm in 1937, making it one of the first (
1018:
979:
962:
800:
701:
646:
553:
458:
446:
414:
152:
104:
2393:
2309:
2068:
The internationalisation of British start-up companies in high-technology industries
2041:
The internationalisation of British start-up companies in high-technology industries
17:
1347:
1260:
938:(MNC). In order to qualify as FDI the investment must afford the parent enterprise
450:
418:
132:
777:
2252:
2219:
2161:
2134:
2104:
2066:
2039:
1897:
1860:
1817:
1781:
1750:
1719:
1692:
1652:
1500:
1473:
1439:
1372:
1725:
1133:
858:
Diffusion of innovation is a theory of how, why, and at what rate new ideas and
678:
597:
541:
2385:
2347:
859:
588:
72:
2510:
990:
considered FDI and MNE as part of the theory of the firm. (Hymer, 1976: 21)
159:, predicts bilateral trade flows based on the economic sizes of (often using
1411:
1400:
International Journal of Technology Management & Sustainable Development
1129:
700:(MNEs) owe their existence to market imperfections was first put forward by
519:
2301:
1626:. Federal Reserve Bank of Atlanta - Working Paper Series. Archived from
669:
In economics, a market failure is a situation wherein the allocation of
2458:. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p.
2044:. Springer (Zentrum fßr Europäische Wirtschaftsforschung). p. 48.
1975:. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p.
1560:
716:
differentiation, but in their absence markets are perfectly efficient.
534:
2432:
2415:
2028:, 1993. Balance of Payments Manual, fifth edition (Washington, D.C.)
2016:, United Nations Conference on Trade and Development, www.unctad.org
1552:
708:
and Caves. The market imperfections they had in mind were, however,
1576:"Mill, Sidgwick, and the Evolution of the Theory of Market Failure"
1539:
Bator, Francis M. (August 1958). "The Anatomy of Market Failure".
1167:. One prominent field of application is managerial compensation.
465:
by predicting patterns of commerce and production based on the
897:
in 1993. The theory of internalization itself is based on the
160:
2416:"A learning portal model of emerging markets multinationals"
1377:. Young et al., 2003. Edward Elgar Publishing. p. 281.
1862:
Deutsche Direktinvestitionen in Grossbritannien, 1871â1918
1759:& Rugman (1985), Teece (1981). Routledge. p. 74.
1374:
Small and Medium-sized Enterprises and the Global Economy
1294:
Edith Penrose § The Theory of the Growth of the Firm
587:
The Linder hypothesis (demand-structure hypothesis) is a
433:
The HeckscherâOhlin model (HâO model), also known as the
1502:
The methodology of economics, or, How economists explain
1199:(Peter J. Buckley & Mark Casson, 1976; Rugman, 1981)
2109:. Irving B. Kravis (1956). Springer. pp. 233â234.
1935:
Falkenhahn, Alexander; Roman Stanslowski (2001-11-27).
1163:. Contract theory is closely connected to the field of
2368:
Hertenstein, P.; Sutherland, D.; Anderson, J. (2017).
805:
The diamond model is an economical model developed by
88:
commodities in which it had an absolute disadvantage.
2254:
Learning in the Internationalisation Process of Firms
2221:
Learning in the Internationalisation Process of Firms
2195:
Learning in the internationalisation process of firms
2163:
Learning in the Internationalisation Process of Firms
2136:
International Trade Theory and Policy: With 12 Tables
2106:
International Trade Theory and Policy: With 12 Tables
1868:(in German). Jena: Franz Steiner Verlag. p. 32.
372:
344:
315:
281:
253:
172:
234:{\displaystyle F_{ij}=G{\frac {M_{i}M_{j}}{D_{ij}}}}
1475:
History of economic thought: A critical perspective
1899:A Century of Foreign Investment in the Third World
1665:(1969) & Caves (1971). Routledge. p. 74.
379:
351:
322:
294:
260:
233:
761:International trade § Specific factors model
1253:The theory of the firm consists of a number of
560:country in the world by any criteria) exported
2193:Blomstermo, Anders; Dharma Deo Sharma (2003).
552:empirically. In 1954, Leontief found that the
2098:
2096:
1930:
1928:
1926:
1924:
1922:
712:imperfections in markets for final products.
522:is that the country with the world's highest
8:
2523:Coase, Ronald H., "The Nature of the Firm",
1937:"Das Eklektische Paradigma des John Dunning"
2128:
2126:
1610:
1608:
1606:
1604:
1602:
1505:. Cambridge University Press. p. 190.
816:The diamond model consists of six factors:
1686:
1684:
1682:
2431:
2290:Journal of International Business Studies
1891:
1889:
1887:
1885:
1811:
1809:
1807:
1441:International economics: a European focus
376:
371:
348:
343:
319:
314:
291:
280:
257:
252:
220:
209:
199:
192:
177:
171:
1854:
1852:
1749:Pitelis, Christos; Roger Sugden (2000).
1718:Pitelis, Christos; Roger Sugden (2000).
1691:Pitelis, Christos; Roger Sugden (2000).
1651:Pitelis, Christos; Roger Sugden (2000).
1433:
1431:
1429:
776:
1363:
604:(relying on specialization to create a
2475:
1992:
1790:(1990, p. 127). Springer. p. 19.
1467:
1465:
1463:
1461:
1615:DeGennaro, Ramon P. (December 2005).
1333:Internationalization and localization
32:Internationalization and localization
7:
2330:Johanson, J.; Vahlne, J.-E. (2013).
2284:Johanson, J.; Vahlne, J.-E. (2009).
1846:, 5th ed.. New York, NY: Free Press.
1819:Competitiveness in the Food Industry
1816:Traill, Bruce; Eamonn Pitts (1998).
1783:Competitiveness in the Food Industry
1780:Traill, Bruce; Eamonn Pitts (1998).
1752:The nature of the transnational firm
1721:The nature of the transnational firm
1694:The nature of the transnational firm
1654:The nature of the transnational firm
1529:, Worth Publishers, New York, (2006)
1301:The Theory of the Growth of the Firm
829:Firm strategy, structure and rivalry
811:The Competitive Advantage of Nations
2224:. Luostarinen (1979). p. 261.
400:North American Free Trade Agreement
2414:Hertenstein, P.; Alon, I. (2021).
2374:Asia Pacific Journal of Management
1541:The Quarterly Journal of Economics
1444:. Pearson Education. p. 336.
1226:in 1966, a product goes through a
25:
1279:Theory of the growth of the firm
826:Related and supporting industries
544:find was the result of Professor
493:Factor-Price Equalization theorem
2197:. Edward Elgar. pp. 36â53.
942:over its foreign affiliate. The
923:Foreign direct investment theory
866:introduced it in his 1962 book,
612:goods between the two nations).
394:The model has also been used in
2454:Economics: Principles in Action
1971:Economics: Principles in Action
1728:(1956). Routledge. p. 74.
1574:Medema, Steven G. (July 2004).
1046:Technology gap theory of trade
435:factors proportions development
57:corporate social responsibility
30:For the term in computing, see
2503:Quarterly Journal of Economics
2450:; Sheffrin, Steven M. (2003).
2336:International Marketing Review
1967:; Sheffrin, Steven M. (2003).
958:Monopolistic advantage theory
147:The gravity model of trade in
1:
1547:(3). The MIT Press: 351â379.
1525:Krugman, Paul, Wells, Robin,
1343:List of free trade agreements
1233:product life cycle management
973:Monopolistic advantage theory
455:Stockholm School of Economics
50:Entrepreneurs and enterprises
2133:Gandolfo, Giancarlo (1998).
2103:Gandolfo, Giancarlo (1998).
1478:. M.E. Sharpe. p. 120.
1338:List of economic communities
2026:International Monetary Fund
1896:Twomey, Michael J. (2000).
1661:(1960, published in 1976),
944:International Monetary Fund
642:Market imperfection theory
100:Comparative cost advantage
2559:
2543:International trade theory
1842:Rogers, Everett M. (2003).
1697:. Routledge. p. 224.
1371:Susman, Gerald I. (2007).
1291:
1242:
1215:
1204:
1174:
1152:
1121:
1092:
1077:
1058:
1026:
1014:Non-availability approach
970:
926:
886:
851:
798:
758:
732:
698:multinational corporations
662:
619:
580:
511:
426:
140:
112:
80:
29:
2386:10.1007/s10490-015-9422-3
2348:10.1108/02651331311321963
2139:. Springer. p. 544.
2014:Foreign Direct Investment
1822:. Springer. p. 301.
1218:Product life-cycle theory
1212:Product life-cycle theory
1029:Non-availability approach
936:multinational corporation
929:Foreign direct investment
862:spread through cultures.
843:Diffusion of innovations
488:StolperâSamuelson theorem
91:While there are possible
2497:Vernon, Raymond (1966).
2482:: CS1 maint: location (
1999:: CS1 maint: location (
1905:. Routledge. p. 8.
1844:Diffusion of Innovations
1438:Ingham, Barbara (2004).
1222:As first articulated by
1138:Frederick Winslow Taylor
868:Diffusion of Innovations
854:Diffusion of innovations
573:Staffan Burenstam Linder
404:World Trade Organization
68:Absolute cost advantage
2420:Global Strategy Journal
2065:BĂźrgel, Oliver (2000).
2038:BĂźrgel, Oliver (2000).
1412:10.1386/tmsd.17.2.183_1
1353:Cultural homogenization
1323:International marketing
1239:Transaction cost theory
1196:Internalisation theory
899:transaction cost theory
706:Charles P. Kindleberger
651:Charles P. Kindleberger
548:'s attempt to test the
478:HeckscherâOhlin theorem
396:international relations
149:international economics
128:Gravity model of trade
2251:Elgar, Edward (2003).
2218:Elgar, Edward (2003).
2160:Elgar, Edward (2003).
1617:"Market Imperfections"
1207:Internalization theory
1161:asymmetric information
782:
773:Traditional approaches
755:Specific factors model
550:Heckscher-Ohlin theory
518:Leontief's paradox in
441:mathematical model of
410:HeckscherâOhlin model
381:
353:
324:
296:
262:
235:
143:Gravity model of trade
1859:Hagen, Antje (1997).
1190:Diseconomies of scale
1142:scientific management
1104:Learning portal model
1089:Updated Uppsala model
780:
767:Heckscher-Ohlin model
608:in the production of
606:comparative advantage
463:comparative advantage
429:HeckscherâOhlin model
382:
354:
325:
297:
295:{\displaystyle i,j\,}
263:
236:
115:Comparative advantage
2527:4, pp 386â405, 1937.
2302:10.1057/jibs.2009.24
1499:Blaug, Mark (1992).
1472:Hunt, E. K. (2002).
952:portfolio investment
722:market imperfections
636:microeconomic theory
531:capital:labour ratio
370:
342:
313:
279:
251:
170:
43:internationalisation
39:internationalization
18:Internationalisation
1328:International trade
593:international trade
591:in economics about
546:Wassily W. Leontief
443:international trade
439:general equilibrium
380:{\displaystyle G\,}
352:{\displaystyle D\,}
323:{\displaystyle M\,}
261:{\displaystyle F\,}
151:, similar to other
119:Ricardian economics
2505:. Cambridge: 191.
2448:O'Sullivan, Arthur
1965:O'Sullivan, Arthur
1313:Division of labour
1245:Theory of the firm
1182:Economies of scale
1124:Contingency theory
1118:Contingency theory
874:Eclectic paradigm
783:
781:The Porter diamond
675:goods and services
628:economic geography
568:Linder hypothesis
526:-per worker has a
483:Rybczynski theorem
377:
349:
320:
292:
258:
231:
83:Absolute advantage
2204:978-1-84064-662-7
1384:978-1-84542-595-1
1288:
1273:economic planning
1255:economic theories
1201:
1165:law and economics
1055:
1023:
967:
889:Eclectic paradigm
883:
848:
823:Demand conditions
820:Factor conditions
795:
659:
602:factor endowments
583:Linder hypothesis
577:
537:than in imports.
508:
499:Leontief paradox
423:
334:, for example GDP
229:
137:
109:
77:
16:(Redirected from
2550:
2528:
2521:
2515:
2514:
2494:
2488:
2487:
2481:
2473:
2457:
2444:
2438:
2437:
2435:
2433:10.1002/gsj.1400
2411:
2405:
2404:
2402:
2400:
2365:
2359:
2358:
2356:
2354:
2327:
2321:
2320:
2318:
2316:
2296:(9): 1411â1431.
2281:
2275:
2274:
2272:
2271:
2248:
2242:
2241:
2239:
2238:
2215:
2209:
2208:
2190:
2184:
2183:
2181:
2180:
2157:
2151:
2150:
2130:
2121:
2120:
2100:
2091:
2090:
2062:
2056:
2055:
2035:
2029:
2023:
2017:
2011:
2005:
2004:
1998:
1990:
1974:
1961:
1955:
1954:
1952:
1951:
1941:
1932:
1917:
1916:
1904:
1893:
1880:
1879:
1867:
1856:
1847:
1840:
1834:
1833:
1813:
1802:
1801:
1777:
1771:
1770:
1746:
1740:
1739:
1715:
1709:
1708:
1688:
1677:
1676:
1648:
1642:
1641:
1639:
1638:
1632:
1621:
1612:
1597:
1596:
1594:
1593:
1587:
1581:. Archived from
1580:
1571:
1565:
1564:
1536:
1530:
1523:
1517:
1516:
1496:
1490:
1489:
1469:
1456:
1455:
1435:
1424:
1423:
1395:
1389:
1388:
1368:
1280:
1249:Transaction cost
1197:
1177:Economy of scale
1171:Economy of scale
1113:Further theories
1047:
1019:Irving B. Kravis
1015:
959:
875:
844:
787:
741:returns to scale
735:New Trade Theory
729:New Trade Theory
655:Richard E. Caves
643:
632:regional science
569:
558:capital-abundant
514:Leontief paradox
504:Wassily Leontief
500:
411:
402:(NAFTA) and the
386:
384:
383:
378:
358:
356:
355:
350:
329:
327:
326:
321:
301:
299:
298:
293:
267:
265:
264:
259:
240:
238:
237:
232:
230:
228:
227:
215:
214:
213:
204:
203:
193:
185:
184:
129:
101:
93:gains from trade
69:
21:
2558:
2557:
2553:
2552:
2551:
2549:
2548:
2547:
2533:
2532:
2531:
2522:
2518:
2496:
2495:
2491:
2474:
2470:
2446:
2445:
2441:
2413:
2412:
2408:
2398:
2396:
2367:
2366:
2362:
2352:
2350:
2329:
2328:
2324:
2314:
2312:
2283:
2282:
2278:
2269:
2267:
2265:
2257:. p. 261.
2250:
2249:
2245:
2236:
2234:
2232:
2217:
2216:
2212:
2205:
2192:
2191:
2187:
2178:
2176:
2174:
2159:
2158:
2154:
2147:
2132:
2131:
2124:
2117:
2102:
2101:
2094:
2087:
2064:
2063:
2059:
2052:
2037:
2036:
2032:
2024:
2020:
2012:
2008:
1991:
1987:
1963:
1962:
1958:
1949:
1947:
1939:
1934:
1933:
1920:
1913:
1902:
1895:
1894:
1883:
1876:
1865:
1858:
1857:
1850:
1841:
1837:
1830:
1815:
1814:
1805:
1798:
1779:
1778:
1774:
1767:
1748:
1747:
1743:
1736:
1717:
1716:
1712:
1705:
1690:
1689:
1680:
1673:
1650:
1649:
1645:
1636:
1634:
1630:
1619:
1614:
1613:
1600:
1591:
1589:
1585:
1578:
1573:
1572:
1568:
1553:10.2307/1882231
1538:
1537:
1533:
1524:
1520:
1513:
1498:
1497:
1493:
1486:
1471:
1470:
1459:
1452:
1437:
1436:
1427:
1397:
1396:
1392:
1385:
1370:
1369:
1365:
1361:
1309:
1296:
1290:
1269:price mechanism
1251:
1243:Main articles:
1241:
1220:
1214:
1209:
1203:
1179:
1173:
1157:
1155:Contract theory
1151:
1149:Contract theory
1126:
1120:
1115:
1106:
1097:
1091:
1082:
1076:
1063:
1057:
1031:
1025:
975:
969:
931:
925:
903:internalization
895:John H. Dunning
891:
885:
879:John H. Dunning
856:
850:
803:
797:
775:
763:
757:
737:
731:
667:
661:
624:
622:Location theory
618:
616:Location theory
585:
579:
516:
510:
457:. It builds on
445:, developed by
431:
425:
368:
367:
340:
339:
311:
310:
304:Country i and j
277:
276:
249:
248:
216:
205:
195:
194:
173:
168:
167:
145:
139:
121:
113:Main articles:
111:
85:
79:
65:
52:
35:
28:
23:
22:
15:
12:
11:
5:
2556:
2554:
2546:
2545:
2535:
2534:
2530:
2529:
2516:
2489:
2468:
2439:
2406:
2360:
2342:(3): 189â210.
2322:
2276:
2263:
2243:
2230:
2210:
2203:
2185:
2172:
2152:
2145:
2122:
2115:
2092:
2085:
2057:
2050:
2030:
2018:
2006:
1985:
1956:
1918:
1911:
1881:
1874:
1866:(Dissertation)
1848:
1835:
1828:
1803:
1796:
1772:
1765:
1741:
1734:
1710:
1703:
1678:
1671:
1643:
1598:
1566:
1531:
1518:
1511:
1491:
1484:
1457:
1450:
1425:
1406:(2): 183â202.
1390:
1383:
1362:
1360:
1357:
1356:
1355:
1350:
1345:
1340:
1335:
1330:
1325:
1320:
1315:
1308:
1305:
1292:Main article:
1289:
1277:
1240:
1237:
1224:Raymond Vernon
1216:Main article:
1213:
1210:
1205:Main article:
1202:
1194:
1186:microeconomics
1175:Main article:
1172:
1169:
1153:Main article:
1150:
1147:
1122:Main article:
1119:
1116:
1114:
1111:
1105:
1102:
1093:Main article:
1090:
1087:
1078:Main article:
1075:
1072:
1061:Technology gap
1059:Main article:
1056:
1051:Michael Posner
1044:
1027:Main article:
1024:
1012:
971:Main article:
968:
956:
927:Main article:
924:
921:
920:
919:
916:
913:
887:Main article:
884:
872:
864:Everett Rogers
852:Main article:
849:
846:(Rogers, 1962)
841:
837:
836:
833:
830:
827:
824:
821:
807:Michael Porter
799:Main article:
796:
791:Michael Porter
786:Diamond model
784:
774:
771:
759:Main article:
756:
753:
745:network effect
733:Main article:
730:
727:
696:The idea that
687:Henry Sidgwick
665:Market failure
663:Main article:
660:
640:
620:Main article:
617:
614:
610:differentiated
581:Main article:
578:
566:
512:Main article:
509:
497:
496:
495:
490:
485:
480:
427:Main article:
424:
408:
392:
391:
375:
364:
363:
347:
336:
335:
318:
307:
306:
290:
287:
284:
273:
272:
256:
242:
241:
226:
223:
219:
212:
208:
202:
198:
191:
188:
183:
180:
176:
157:social science
153:gravity models
141:Main article:
138:
126:
110:
98:
81:Main article:
78:
66:
64:
63:Trade theories
61:
51:
48:
37:In economics,
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
2555:
2544:
2541:
2540:
2538:
2526:
2520:
2517:
2512:
2508:
2504:
2500:
2493:
2490:
2485:
2479:
2471:
2469:0-13-063085-3
2465:
2461:
2456:
2455:
2449:
2443:
2440:
2434:
2429:
2425:
2421:
2417:
2410:
2407:
2395:
2391:
2387:
2383:
2379:
2375:
2371:
2364:
2361:
2349:
2345:
2341:
2337:
2333:
2326:
2323:
2311:
2307:
2303:
2299:
2295:
2291:
2287:
2280:
2277:
2266:
2264:1-84064-662-4
2260:
2256:
2255:
2247:
2244:
2233:
2231:1-84064-662-4
2227:
2223:
2222:
2214:
2211:
2206:
2200:
2196:
2189:
2186:
2175:
2173:1-84064-662-4
2169:
2165:
2164:
2156:
2153:
2148:
2146:3-540-64316-8
2142:
2138:
2137:
2129:
2127:
2123:
2118:
2116:3-540-64316-8
2112:
2108:
2107:
2099:
2097:
2093:
2088:
2086:3-7908-1292-7
2082:
2078:
2074:
2070:
2069:
2061:
2058:
2053:
2051:3-7908-1292-7
2047:
2043:
2042:
2034:
2031:
2027:
2022:
2019:
2015:
2010:
2007:
2002:
1996:
1988:
1986:0-13-063085-3
1982:
1978:
1973:
1972:
1966:
1960:
1957:
1945:
1944:Seminar paper
1938:
1931:
1929:
1927:
1925:
1923:
1919:
1914:
1912:0-415-23360-7
1908:
1901:
1900:
1892:
1890:
1888:
1886:
1882:
1877:
1875:3-515-07152-0
1871:
1864:
1863:
1855:
1853:
1849:
1845:
1839:
1836:
1831:
1829:0-7514-0431-4
1825:
1821:
1820:
1812:
1810:
1808:
1804:
1799:
1797:0-7514-0431-4
1793:
1789:
1785:
1784:
1776:
1773:
1768:
1766:0-415-16787-6
1762:
1758:
1754:
1753:
1745:
1742:
1737:
1735:0-415-16787-6
1731:
1727:
1723:
1722:
1714:
1711:
1706:
1704:0-415-16787-6
1700:
1696:
1695:
1687:
1685:
1683:
1679:
1674:
1672:0-415-16787-6
1668:
1664:
1660:
1656:
1655:
1647:
1644:
1633:on 2010-04-01
1629:
1625:
1624:Working Paper
1618:
1611:
1609:
1607:
1605:
1603:
1599:
1588:on 2007-09-27
1584:
1577:
1570:
1567:
1562:
1558:
1554:
1550:
1546:
1542:
1535:
1532:
1528:
1522:
1519:
1514:
1512:0-521-43678-8
1508:
1504:
1503:
1495:
1492:
1487:
1485:0-7656-0607-0
1481:
1477:
1476:
1468:
1466:
1464:
1462:
1458:
1453:
1451:0-273-65507-8
1447:
1443:
1442:
1434:
1432:
1430:
1426:
1421:
1417:
1413:
1409:
1405:
1401:
1394:
1391:
1386:
1380:
1376:
1375:
1367:
1364:
1358:
1354:
1351:
1349:
1346:
1344:
1341:
1339:
1336:
1334:
1331:
1329:
1326:
1324:
1321:
1319:
1318:Globalization
1316:
1314:
1311:
1310:
1306:
1304:
1302:
1295:
1287:
1285:
1284:Edith Penrose
1278:
1276:
1274:
1270:
1266:
1265:neo-classical
1262:
1258:
1256:
1250:
1246:
1238:
1236:
1234:
1229:
1225:
1219:
1211:
1208:
1200:
1195:
1193:
1191:
1187:
1183:
1178:
1170:
1168:
1166:
1162:
1156:
1148:
1146:
1143:
1139:
1135:
1131:
1125:
1117:
1112:
1110:
1103:
1101:
1096:
1095:Uppsala model
1088:
1086:
1081:
1080:Uppsala model
1074:Uppsala model
1073:
1071:
1069:
1068:imitation lag
1062:
1054:
1052:
1045:
1043:
1041:
1037:
1030:
1022:
1020:
1013:
1011:
1007:
1003:
999:
995:
991:
987:
983:
981:
980:Stephen Hymer
974:
966:
964:
963:Stephen Hymer
957:
955:
953:
949:
945:
941:
937:
930:
922:
917:
914:
911:
910:
909:
906:
904:
900:
896:
890:
882:
880:
873:
871:
869:
865:
861:
855:
847:
842:
840:
834:
831:
828:
825:
822:
819:
818:
817:
814:
812:
808:
802:
801:Diamond model
794:
792:
785:
779:
772:
770:
768:
762:
754:
752:
748:
746:
742:
736:
728:
726:
723:
717:
713:
711:
707:
703:
702:Stephen Hymer
699:
694:
690:
688:
684:
680:
676:
672:
666:
658:
656:
653:, 1969 &
652:
649:, 1976 &
648:
647:Stephen Hymer
641:
639:
637:
633:
629:
623:
615:
613:
611:
607:
603:
599:
594:
590:
584:
576:
574:
567:
565:
563:
559:
555:
551:
547:
543:
538:
536:
532:
529:
525:
521:
515:
507:
505:
498:
494:
491:
489:
486:
484:
481:
479:
476:
475:
474:
471:
468:
464:
461:'s theory of
460:
459:David Ricardo
456:
452:
448:
447:Eli Heckscher
444:
440:
436:
430:
422:
420:
417:, 1966 &
416:
415:Eli Heckscher
409:
407:
405:
401:
397:
390:
373:
366:
365:
362:
345:
338:
337:
333:
332:Economic mass
316:
309:
308:
305:
288:
285:
282:
275:
274:
271:
254:
247:
246:
245:
224:
221:
217:
210:
206:
200:
196:
189:
186:
181:
178:
174:
166:
165:
164:
162:
158:
154:
150:
144:
136:
134:
127:
125:
120:
116:
108:
106:
105:David Ricardo
99:
97:
94:
89:
84:
76:
74:
67:
62:
60:
58:
49:
47:
44:
40:
33:
19:
2524:
2519:
2502:
2492:
2453:
2442:
2423:
2419:
2409:
2397:. Retrieved
2377:
2373:
2363:
2351:. Retrieved
2339:
2335:
2325:
2313:. Retrieved
2293:
2289:
2279:
2268:. Retrieved
2253:
2246:
2235:. Retrieved
2220:
2213:
2194:
2188:
2177:. Retrieved
2162:
2155:
2135:
2105:
2067:
2060:
2040:
2033:
2021:
2013:
2009:
1970:
1959:
1948:. Retrieved
1943:
1898:
1861:
1843:
1838:
1818:
1782:
1775:
1751:
1744:
1720:
1713:
1693:
1663:Kindleberger
1653:
1646:
1635:. Retrieved
1628:the original
1623:
1590:. Retrieved
1583:the original
1569:
1544:
1540:
1534:
1526:
1521:
1501:
1494:
1474:
1440:
1403:
1399:
1393:
1373:
1366:
1348:Mercantilism
1300:
1297:
1281:
1261:Ronald Coase
1259:
1252:
1221:
1198:
1180:
1158:
1127:
1107:
1098:
1083:
1067:
1064:
1048:
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1016:
1008:
1004:
1000:
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960:
948:incorporated
939:
932:
907:
902:
892:
876:
867:
857:
845:
838:
815:
810:
809:in his book
804:
788:
764:
749:
738:
721:
718:
714:
709:
695:
691:
668:
644:
625:
586:
570:
539:
527:
517:
501:
472:
451:Bertil Ohlin
434:
432:
419:Bertil Ohlin
412:
393:
388:
360:
331:
303:
269:
243:
146:
133:Walter Isard
130:
122:
102:
90:
86:
70:
53:
42:
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1134:bureaucracy
679:free market
598:preferences
542:econometric
2270:2009-03-21
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2179:2009-03-21
1950:2009-02-19
1637:2009-03-17
1592:2007-06-23
1359:References
1228:life cycle
860:technology
832:Government
710:structural
673:or use of
671:production
589:conjecture
556:(the most
270:Trade flow
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2525:Economica
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