Kiel Working Papers, Kiel Institute for World Economics
No 969:
Globalization of the World Economy: What Happened in 1985?
Jörn Kleinert
Abstract: This paper brings forward a three-country model to analyze
the internationalization process in the age of globalization. It is shown
that investment of one company increases not only the incentive to invest
in another country for every national competitor but for third countryÂ’s
companies as well. That results from the adjustment of the host countryÂ’s
companies which react to their shrinking market share by reducing output
and raising the price of their goods. Some host countryÂ’s companies exit
the market. The results are used to explain the surge of foreign direct
investment since the mid-1980s.
38 pages, March 2000
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