Outsourcing as a loan agreement between legal entities

As the results of the analysis conducted by a group of researchers led by D. Farrell showed, participation in international trade in outsourcing services can be considered as a kind of loan agreement between legal entities. At the same time, contrary to the prevailing opinion even among supporters of the idea of ​​the mutually beneficial nature of outsourcing, he ensures that he obtains the greatest benefit or, using the terminology of game theory, “wins”, not exporting, but importing the country. According to the results of their analysis of US-India trade in outsourcing services, for every dollar invested by American enterprises in outsourcing abroad, the total gain in the form of added value for the world economy is 1.45-1.47 dollars, of which 1 $ 12-1.14 is due to the US economy, and $ 0.33 to the Indian economy.

Thus, the analysis of empirical data confirms that the Ricardian idea of ​​trade mutually beneficial for the economies of the countries involved in it retains its fairness regarding outsourcing as one of the modern forms of international trade, naturally provided that the conclusion of an agreement between legal entities is based on an equal footing.

At the same time, one cannot fail to note the validity of the position of those researchers (in particular, P. Samuelson and E. Limer) who, while recognizing the correctness of the Ricardian model and, moreover, using it to substantiate their own conclusions, voice the fear that the increase in volumes international trade in outsourcing services may eventually lead to such a change in the terms of trade, which will entail changes in the ratio of winnings of the countries involved in international outsourcing in favor of the exporting country and violate m Thus, this loan agreement between the entities.

In other words, their fear is that international outsourcing will change the existing specialization of countries in the international division of labor and change the responsibility of a legal entity, according to which developed countries traditionally have a comparative advantage in high-tech and high-tech fields, where more and more often they face increased competition from developing and transition economies, redundancy, and a relatively cheap and highly skilled labor force, koto nd they are now able to offer the international market.

The described situation, in our opinion, is fully explained by the theory of the product life cycle of R. Vernon, according to which the production of labor-intensive traded goods (to which, as we have justified, outsourcing services can be equated for research purposes), as a rule, moves from countries with expensive labor (in which the product is usually developed due to the presence in the country of a sufficient quantity of highly skilled labor required at the development stage and begins to be introduced) in low-cost countries The manpower required for the implementation of serial production will violate this peculiar loan agreement between legal entities. And this, in turn, allows maintaining high rates of progress and makes it possible to get long-term benefits from international outsourcing to a wide range of countries involved in it.

In the course of the study, specialists analyzed the main approaches that have been established in the research community to correlate outsourcing with traditional forms of international trade. Based on the nature of outsourcing, the validity of considering outsourcing as a form of international trade has been established, the analysis of which is possible from the point of view of import-export operations, and the resulting consequences are generally similar to those for national economies of export-import operations of the countries included in them, between which an appropriate loan agreement is concluded between legal entities.

We can conclude that, assuming the similarity of outsourcing services and goods traded in international trade and elimination, thereby, differences in formal features between the concepts of “product” and “service acting as a subject of international trade” - the application of the classic Ricardian international trade models for the interpretation of outsourcing - and above all, its mutually beneficial nature for both countries - can be considered reasonable.

Finally, an analysis of the impact of outsourcing on the domestic labor market of the importing country revealed the predominantly structural nature of unemployment caused by outsourcing and its natural (due to continuously changing changes in the structure of the national economy and the global economy).

Thus, the Ricardian idea of ​​the mutually beneficial trade for the economies of the countries involved in it retains its fairness regarding outsourcing as one of the modern forms of international trade. This, in turn, confirms that the long-term benefits of international outsourcing in the long term are received by the subjects of both countries involved in it.

Source: https://habr.com/ru/post/B9465/


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