Grossman–Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production

  • Pol Antràs
  • Published 2011

Abstract

I survey the influence of Grossman and Hart’s (1986. “The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration,” 94 Journal of Political Economy 691–719.) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization… (More)
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