外商直接投资，国际外包和联系外文原文.pdfVIP

CESPRI Centro di Ricerca sui Processi di Innovazione e Internazionalizzazione Università Commerciale “Luigi Bocconi” Via R. Sarfatti, 25 – 20136 Milano Tel. 027 – fax 02 http://www.cespri.it Carlo Altomonte, Chiara Bonassi FDI, INTERNATIONAL OUTSOURCING AND LINKAGES WP n. 155 April 2004 Stampato in proprio da: Università Commerciale Luigi Bocconi – CESPRI Via Sarfatti, 25 20136 Milano Anno: 2004 FDI, International Outsourcing and Linkages Carlo Altomonte Chiara Bonassi (Universit`a Bocconi) (ISLA-Universit`a Bocconi) April 27, 2004 Abstract We investigate the trade-off between FDI and international outsourcing of interme- diate inputs by a producer of a final good. To this extent, we characterize an industry equilibrium where fixed sunk costs exist for the setting up of foreign subsidiaries and the latter are heterogeneous in productivity levels. We relate the resulting trade-off be- tween outsourcing and FDI to the degree of contract completeness prevailing in the host country and explore its implications in terms of linkages existing between final producers and local suppliers. We find that an increase in competition levels has a non-monotonic effect on the profit of the local suppliers. Therefore, the host country has an incentive to contrast the entry of new final producers with a reduction in the degree of contract completeness. JEL classifi cation: F12, L22, D23 Keywords : FDI, outsourcing, imperfect contracting, spillovers