NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

American Firms Face Europe: 1992

Robert E. Lipsey

NBER Working Paper No. 3293 (Also Reprint No. r1612)
Issued in March 1990
NBER Program(s):   ITI   IFM

The press and business magazines are filled with stories about a rush of American firms into the European Community to take advantage of, or avoid the adverse consequences of, the expected formation of a single market in 1992. Yet, it is hard o find evidence of a large shift in plant and equipment expenditures, employment, or financial investment toward the EC countries by American firms. The main reason seems to be that large American manufacturing firms are already well entrenched in the EC, and may even be better positioned to take advantage of the single market than most of their European rivals. The U.S. firms (unlike most Japanese companies) already supply almost all their share of the EC market from operations within the EC and depend very little on importing from the U.S. There is some indication of moves toward EC production by non-manufacturing operations such as distribution and services, by smaller companies, by those not now producing extensively in the EC, and by firms hoping to take part in public procurement.

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Document Object Identifier (DOI): 10.3386/w3293

Published: U.S. - Japan Economic Forum, Vol. 1, edited by Martin Feldstein and Yutaka Kosai, pp. 9-32, (1990).

 
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