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...

While there is a large body of literature on the impact of inward foreign direct investment (FDI) on economic growth in host countries, few studies have been devoted to the role of outward FDI (OFDI) in the home economies. This paper intends to close the gap in the literature by investigating...