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Outsourcing versus FDI under Uncertainty |
E. Kwan Choi & Jai-Young Choi |
Working paper |
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E. Kwan Choi |
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This
paper investigates outsourcing and foreign direct investment (FDI) decisions in
North-South trade under conditions of price and wage uncertainty.
Given that the
North is abundant in capital but scarce in labor and capital is imperfectly mobile
between countries, outsourcing to an independent Southern firm is generally
better than in-house production, but the FDI is the dominant policy. This
finding is consistent with the rising foreign direct investment in China by
Northern firms. |