A Unified Treatment of Horizontal Direct Investment, Vertical Direct Investment, and the Pattern of Trade in Goods and Services

This paper contributes to research endogenizing multinational firms in general-equilibrium trade models. We attempt to integrate separate contributions on horizontal multinationals which produce the same final product in multiple locations, with work on vertical multinationals, which geographically

本研究致力于推动将跨国企业（multinational firms）内生纳入一般均衡贸易模型（general-equilibrium trade models）的相关研究。本文尝试将针对横向跨国企业（horizontal multinationals，即在多个区位生产相同最终产品的企业）的独立研究成果，与针对纵向跨国企业（vertical multinationals）的相关研究进行整合，此类研究的分析视角聚焦于地理层面——