Scandinavian Working Papers in Economics
SSE/EFI Working Paper Series in Economics and Finance,
Stockholm School of Economics
No 80: Internationalized Production in World Output
Robert E. Lipsey, Magnus Blomström () and Eric Ramstetter
Additional contact information
Robert E. Lipsey: National Bureau of Economic Research, Postal: National Bureau of Economic Research, 50 East 42nd Street, New York, N.Y. 10017, and City University of N.Y.
Magnus Blomström: Department of Economics, Postal: Stockholm School of Economics, Box 6501, 113 83 Stockholm, Sweden.
Eric Ramstetter: Faculty of Economics, Postal: Kansai University, 3-3-35 Yamate-Cho, Suita, Osaka, 56401 JAPAN
Abstract: Internationalized production, that is, production by multinational firms outside their home countries has increased over the last two decades, but it was still, in 1990, only about 7 per cent of world output. The share was higher, at 15 per cent in "industry", including manufacturing, trade, construction, and public utilities, but it was negligible in "services", which are about 60 per cent of world output. Given all the attention that "globalization" has received from scholars, international organizations, and the press, these numbers are a reminder of how large a proportion of economic activity is confined to single geographical locations and home country ownership. Internationalization of production is clearly growing in importance, but the vast majority of production is still carried out by national producers within their own borders.
Keywords: Globalization; foreign investment; multinationals
JEL-codes: F23
112 pages, October 1995
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