Examines the effects of outsourcing on labor and the economy of the European Union.
Written in 2005; 3,900 words; 7 sources; APA; $ 106.95
Paper Summary:
This paper elaborates a model showing that outsourcing can benefit a country through higher productivity growth and increased employment. Part I discusses the problems regarding the precise definition of outsourcing and presents a case for using the definition adopted in this paper. Part II provides an overview of literature presenting both theoretical and empirical data related to the subject. Part III of this paper creates a model of the economy that engages in outsourcing with all theoretical assumptions and conclusions stemming from it. Part IV bases on this theoretical framework to determine which groups are expected to gain, which groups are expected to lose, and what needs to be done to turn losers into gainers. Part V is a case study of outsourcing from the European Union as a test of the paper's theoretical framework. The paper examines whether the implications of the model hold true in the case of the European Union and sees if the model can explain why certain implications do not hold in real life. Finally, in Part VI the paper gives a brief discussion on economic restructuring policies that are to be adopted in the European Union in order for it to maximize its gains from outsourcing.
From the Paper:
"Perhaps the main reason for the broadness of the definition of outsourcing is that the concept had changed over time. Up to the early eighties, and dating back to the nineteenth century, outsourcing has been understood as a firm's purchase of intermediate inputs from outside, whether domestically or abroad. Such, the American Heritage Dictionary defines it as "The procuring of services or products ... from an outside supplier ... in order to cut costs." In such a case, a car manufacturing company in the U.S. that purchases car tires from another firm is said to outsource its tire production. However, with the development of foreign trade, economists became to refer more and more often to "an outside supplier" as the one outside the country, speaking of outsourcing as specifically purchasing intermediate inputs from abroad."
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