本文建構一個寡占市場模型，探討出資與受資國工資的差異與技術外溢現象如何影響多國籍企業全球化生產佈局。我們證明當外人投資發生技術外溢現象時，隨著出資國與受資國工資差距的逐漸加大，多國籍企業全球生產佈局將由完全沒有外人投資的型態，進而轉成先對外投資最終財產業在母國留住中間財產業，最後進入上下游廠全部外移的生產佈局動態形式；反之，當外人投資不發生技術外溢時，寡占市場中全球化生產佈局會隨著出資國與受資國工資差距的加大，由完全沒有外人投資的基態直接轉變成上下游廠一次全部外移的生產佈局型態。我們進一步求得在此全球化生產佈局的轉變過程中，受資國社會福利也會逐步上升的條件。我們並且探討可以提昇受資國福利的外人投資政策。

We construct an oligopolistic model to explore how technological spillovers affect the international fragmentation of production. We prove that as the source country’s wage increases, the multinational firm will first allocate its downstream unit to the host country and gradually move its upstream unit overseas. Without spillovers, the foreign firm will move at once its upstream and downstream units to the host country. We also derive the condition that can improve the host country’s welfare during the formation of international fragmentation of production. Finally, we investigate how the host country’s government can use and FDI-inducing policy to improve national welfare.