May 1966
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895 Reads
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7,188 Citations
Quarterly Journal of Economics
Location of new products, 191. — The maturing product, 196. — The standardized product, 202.
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... The product comes from the country of origin and is sold to other developed counties, then to developing and then less developed countries and started to be produced in these countries. It would shift to other countries according to the level of development and meet the demand of that country (Vernon, 1966). However, the assumptions of the theory are criticized due to the emergence of three ideal firms and the countries other than the US which also carried out the innovation flag. ...
- Citing Article
May 1966
Quarterly Journal of Economics