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democracy is a form of government that prohibits opposing political parties.
for privatization to work, it must also be accompanied by a more general deregulation
and opening of the economy.
the argument for centralizing production will be greater if the minimum efficient scale
of a plant relative to total global demand is low.
peruvian development economist hernando de soto has argued that the chronic inability
of property owners to establish legal title to the property they own is a key problem for
innovation, and entrepreneurial activity in developing nations.
one disadvantage of a foreign production site is that the production factors typically lag
behind the production factors of other countries.
in a worldwide area structure, each area tends to be a self-contained, largely
autonomous entity with its own set of value creation activities.
firms pursuing a localization strategy tend to operate with an array of formal and
informal integrating mechanisms.
countertrades main attraction is that it can give a firm a way to finance an export deal
when there are no other means available.
a time draft is payable on presentation to the drawee.
historically substantial regulatory barriers separated national equity markets from each
other.
A tax heaven is a country that gives income tax exemptions to firms that export all or
part of its products.
proactive firms do not consider exporting until their domestic market is saturated.
according to ricardos theory of comparative advantage, countries should produce all the
products for which they have an absolute advantage.
patents discourage companies from committing themselves to extensive basic research.
a localization strategy makes most sense when demands for local responsiveness are
high, but cost pressures are moderate or low.
