全球智库信息集成服务系统(G2TT): Vertical Integration and Investor Protection in Developing Countries

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Vertical Integration and Investor Protection in Developing Countries
	Rocco Macchiavello
发表日期	2009
出处	Economy and Society
出版年	2009
语种	英语
摘要	The industrial organization of developing countries is characterized by the pervasive use of subcontracting arrangements among small, financially constrained firms. This paper asks whether vertical integration relaxes those financial constraints. It shows that vertical integration trades off the benefits of joint liability against the costs of rendering the supply chain more opaque to external investors. In contrast to the commonly held view that pervasive input and capital market imperfections are conducive to vertical integration, the model predicts that the motives for vertical integration are not necessarily higher in developing countries. In particular, vertical integration is more likely to arise at intermediate levels of investor protection and better contract enforcement with suppliers reduces vertical integration only if financial markets are sufficiently developed. Evidence supporting both predictions is discussed.
特色分类	O12;O16;D23;G30;L22
关键词	Vertical Integration Industrial Development Financial Constraints Joint Liability Trade Credit Community-based Industries
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/vertical-integration-and-investor-protection-in-developing-countries/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/117636
推荐引用方式 GB/T 7714	Rocco Macchiavello. Vertical Integration and Investor Protection in Developing Countries. 2009.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
20091119111211Nota_d（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
2009111911047486-09.（363KB）	智库出版物		限制开放	CC BY-NC-SA	浏览