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Economics: Difference between revisions
→Week 37 - Modern trade theories, trade policy: adding information / link harvesting from course outline for session 3
(→Week 37 - Modern trade theories, trade policy: adding information / link harvesting from course outline for session 3) |
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* The '''[[w:eclectic paradigm|eclectic paradigm]]''' is a theory in economics and is also known as the '''OLI-Model''' or '''OLI-Framework'''. It is a further development of the theory of internalization and published by John H. Dunning in 1980. ( Wikipedia ) | * The '''[[w:eclectic paradigm|eclectic paradigm]]''' is a theory in economics and is also known as the '''OLI-Model''' or '''OLI-Framework'''. It is a further development of the theory of internalization and published by John H. Dunning in 1980. ( Wikipedia ) | ||
=== Export based methods === | |||
'''indirect [[w:export]]ing''' is done by | |||
:#) An '''export house''' buys products from a domestic firm and sells them abroad on its own account ( teacher ) | |||
:#) A '''[[w:confirming house]]''' is a specialised UK agency that purchases and arranges the [[w:export]] of goods on the behalf of overseas buyers. They finance the movement of goods into the country by offering short-term credit to importers and guaranteeing, or confirming, payment to the suppliers in the suppliers own domestic currency. The confirming house usually negotiates the price with the suppliers, ships, insures and provides information on the goods on the overseas buyers behalf. ( Wikipedia ) | |||
:#) A '''buying house''' performs similar functions to those of the confirming house but is more active in seeking out sellers to match the buyer’s particular needs ( teacher ) | |||
In '''direct exporting''' a firm is distributing and selling its own products to the foreign market | |||
'''Non-equity methods''' | |||
:A firm sells [[w:technology|technology]] or [[w:know-how|know-how]] under some form of [[w:contract|contract]], often involving [[w:patent|patent]]s, [[w:trademark|trademark]]s and [[w:copyright|copyright]]s ([[w:intellectual property rights|intellectual property rights]]) ( teacher ) | |||
:#) '''[[w:licensing|licensing]]''' | |||
:#) '''[[w:franchising|franchising]]''' | |||
:#) '''[[w:management|management]] [[w:contracting|contracting]]''' | |||
:#) '''technical service agreements''' | |||
:#) '''[[w:strategic alliance|strategic alliance]]s''' | |||
== Week 38 - No class, work on report == | == Week 38 - No class, work on report == | ||