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Global Production
Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these fr...
Global Sourcing
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World Trade Evolution
The book provides theoretical and empirical evidence on how world trade evolves, how trade affects resource allocation, how trade competition affects productivity, how China shock affects world trade and how trade affects large and small countries. It is a useful reference which focuses on new approaches to international trade by looking into country-specific as well as firm-product level-specific cases.
Negotiating Free Trade
"We develop a dynamic bargaining model in which a leading country endogenously decides whether to sequentially negotiate free trade agreements with subsets of countries or engage in simultaneous multilateral bargaining with all countries at once. We show how the structure of coalition externalities shapes the choice between sequential and multilateral bargaining, and we identify circumstances in which the grand coalition is the equilibrium outcome, leading to worldwide free trade. A model of international trade is then used to illustrate equilibrium outcomes and how they depend on the structure of trade and protection. Global free trade is not achieved when the political-economy motive for p...
Organizations and Trade
We survey an emerging literature at the intersection of organizational economics and international trade. We argue that a proper modelling of the organizational aspects of production provides valuable insights on the aggregate workings of the world economy. In reviewing the literature, we describe certain predictions of standard models that are affected or even overturned when organizational decisions are brought into the analysis. We also suggest potentially fruitful areas for future research.
The Great Recoil
What comes after neoliberalism? In these times of health emergency, economic collapse, populist anger and ecological threat, societies are forced to turn inward in search of protection. Neoliberalism, the ideology that presided over decades of market globalisation, is on trial, while state intervention is making a spectacular comeback amid lockdowns, mass vaccination programmes, deficit spending and climate planning. This is the Great Recoil, the era when the neo-statist endopolitics of national sovereignty, economic protection and democratic control overrides the neoliberal exopolitics of free markets, labour flexibility and business opportunity. Looking back to the role of the state in Pla...
Risks in Agricultural Supply Chains
An essential guide to the role of microeconomic incentives, macro policies, and technological change in enhancing agriculture resilience. Climate change and the recent COVID-19 pandemic have exposed the vulnerability of global agricultural supply and value chains. There is a growing awareness of the importance of interactions within and between these supply chains for understanding the performance of agricultural markets. This book presents a collection of research studies that develop conceptual models and empirical analyses of risk resilience and vulnerability in supply chains. The chapters emphasize the roles played by microeconomic incentives, macroeconomic policies, and technological ch...
Firms, Contracts, and Trade Structure
(Cont.) We describe an equilibrium in which firms with different productivity levels choose different ownership structures and supplier locations. We then study the effects of within-sectoral heterogeneity and variations in industry characteristics on the relative prevalence of these organizational forms. The analysis sheds light on the structure of foreign trade within and across industries.
Costs and Benefits of Economic Integration in Asia
Costs and Benefits of Economic Integration in Asia brings together authoritative essays that identify and examine various initiatives to promote economic integration in Asia.
Contracts and the Division of Labor
We develop a tractable framework for the analysis of the relationship between contractual incompleteness, technological complementarities, and technology adoption. In our model a firm chooses its technology and investment levels in contractible activities by suppliers of intermediate inputs. Suppliers then choose investments in noncontractible activities, anticipating payoffs from an ex post bargaining game. We show that greater contractual incompleteness leads to the adoption of less advanced technologies and that the impact of contractual incompleteness is more pronounced when there is greater complementary among the intermediate inputs. We study a number of applications of the main framework and show that the mechanism proposed in the paper can generate sizable productivity differences across countries with different contracting institutions and that differences in contracting institutions lead to endogenous comparative advantage differences.
