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Managerial Effort Incentives, X-Inefficiency and International Trade
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1991 (English)Report (Other academic)
Abstract [en]

The paper investigates formally the old idea that competition brought about by international trade yields welfare gains by reducing internal slack - "X-inefficiency" - in firms. The paper employs a contract-theoretic based, general equilibrium, trade model to demonstrate how international trade affects the contractual relationship in firms so as to induce more managerial effort supply. This increased effort supply is shown to be beneficial from a welfare perspective, partly because firms are X-inefficient. But, while these results partly confirm the economic "folklore", the folklore can be questioned on other grounds.

Place, publisher, year, edition, pages
Stockholm: IIES , 1991. , 37 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 507
Keyword [en]
x-inefficiency, trade, contracts
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41818OAI: oai:DiVA.org:su-41818DiVA: diva2:337823
Available from: 2010-08-09 Created: 2010-08-09 Last updated: 2010-08-09Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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Language
  • de-DE
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  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
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  • Other locale
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Output format
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