A Contracting Approach to the Divisions of the Gains in Global Supply Chains: Theory and Evidence-葡萄牙vs塞尔维亚比赛直播 系

A Contracting Approach to the Divisions of the Gains in Global Supply Chains: Theory and Evidence


沈煌南,复旦大学管理学院应用经济系助理教授,哈佛大学肯尼迪政府学院国际发展研究中心增长实验室研究员,复旦科创企业家营和MBA课程授课教授,复旦大学中国经济研究中心研究员。参与组建了西班牙纳瓦拉大学中国研究中心(Core China Research Center),并担任联合创始人兼董事会成员的职务。担任国际中文期刊《中国经济研究》的创始副主编。参与关于“一带一路”倡议的国家社科基金面上项目和国家自科基金重大项目,发表的文章被收录ESI高被引论文的前1%的收录系列。迄今在《经济学动态》《中国工业经济》、China Economic Review、Journal of Economic Surveys、Structural Change and Economic Dynamics、Pacific Basin Finance Journal、Contemporary Economic Policy等期刊发表论文及专著章节共50余篇。获得了2022年度《产业经济评论》最佳论文奖,第22届安子介国际贸易研究优秀论文三等奖、第21届中国国有经济发展论坛“优秀论文奖”,以及伦敦大学科研奖学金和2019年中国教育部留基委海外自费留学生国家奖学金。


This paper develops a theory to illustrate the relationship between the profitability of firms producing along the value chain and the sequential production stages. Using a bilateral monopoly framework, it interrogates the validity of the U-shaped curve (often called the “smile curve”) regarding the firm-level division of the gains in the global supply chains. In order to resolve the potential problems of double marginalisation and hold-up phenomenon, we use quantity fixing contracting choice as a way of vertical restraint to eliminate the incentives for vertical integration in the supply chain as well as the indeterminacy of prices stemming from the problems of bilateral monopoly. Our findings indicate that the U-shaped relationship is not universally valid. It depends on the interaction between the capability effects and cost effects of firms producing along the chain. From the consumption side, the variation of firm’s bargaining power determines the profitability distribution along the chain, whereas labour costs and the elasticity of endogenous sunk cost with respect to the quality level of intermediate goods play a counterpart role in determining the profit sharing from the perspective of the production side. The empirical results based on the WIOD confirm our theoretical predictions.

时间:2023-03-21 (Tuesday) 16:30-18:00
主办单位:中国科学院大学经济与管理学院、中国科学院预测科学研究中心、葡萄牙vs塞尔维亚比赛直播 邹至庄经济研究院、NSFC“计量建模与经济政策研究”基础科学中心