2014 International Trade, Offshoring and heterogeneous firms

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1、ReviewofInternationalEconomics,22(1),5972,2014DOI:10.1111/roie.12096InternationalTrade,OffshoringandHeterogeneousFirmsRichardE.BaldwinandToshihiroOkubo*AbstractRecenttrademodelsdeterminetheequilibriumdistributionofÞrm-levelefÞciencyendogenouslyandshowthatfreertradeshiftsthedistributiontowardshi

2、gheraverageproductivitybecauseofentryandexitofÞrms.ThesemodelsignorethepossibilitythatfreertradealsoalterstheÞrm-sizedistributionviainterna-tionalÞrmmigration(offshoring);Þrmsmust,byassumption,produceintheirÒbirthnation.ÓWeshowthatwhenÞrmsareallowedtoswitchlocations,newproductivityeffectsarise.

3、FreertradeinducesthemostefÞ-cientsmall-nationÞrmstomovetothelargenation.ThelargecountrygetsanÒextrahelpingÓofthemostefÞcientÞrmswhilethesmallnationÕsÞrm-sizedistributionistruncatedonbothends.Thisreinforcesthelarge-nationproductivitygainwhilereducingorevenreversingthesmall-nationproductivitygain

4、.ThesmallnationisneverthelessbetteroffallowingÞrmmigration.1.IntroductionTheßourishingofheterogeneous-ÞrmstrademodelswhichstartedwithEatonandKortum(2002)andMelitz(2003)focusedattentiononthewayfreertradecanboostproductivityviachangesintheequilibriumdistributionofÞrm-leveloutputs(theleastefÞcient

5、shutsdownandthemostefÞcientexpands).Helpmanetal.(2004)allowedformultinationalproduction,i.e.productionbyasingleÞrminbothhomeandforeignwhosepurposeistoavoidtradecosts,buttheliteraturetodateignorestheissueofinternationalÞrmmigrationÑwhatisknownasoffshoringinNorthAmerica,ÒdelocationÓinEuropeandÒho

6、llowingoutÓinJapanÑi.e.whereaÞrmceasespro-ductioninonenationandsetsupproductionabroad.SinceÞrmmigrationÑtheshiftingofproductionlocationbyindividualÞrmsÑisanimportantempiricalphe-nomenon,itisstrikingthatheterogeneous-Þrmtrade(HFT)modelsignoresthis1spatialrelocation.Ourpaperarguesthattheassumptio

7、nofnospatialrelocationintheHFTmodelsisnotinnocent.Weworkinaframeworkwherenationsdifferonlyinsize.Inthisworld,freertradehastwodistincteffects.TheÞrstisthewell-knownpro-productivityeffectdiscussedabove.ThesecondisthatitcreatesÒhome-