Factor Endowments And International Trade

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Factor Endowments And International Trade

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Author : Subimal Mookerjee
language : en
Publisher:
Release Date : 1958

Factor Endowments And International Trade written by Subimal Mookerjee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1958 with Commerce categories.

Comparative Cost Advantage And Factor Endowment

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Author : Johannes Frederking
language : en
Publisher: GRIN Verlag
Release Date : 2010-02

Comparative Cost Advantage And Factor Endowment written by Johannes Frederking and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02 with categories.

Seminar paper from the year 2009 in the subject Economics - International Economic Relations, grade: 1.3, University of Applied Sciences Mainz (School of Business), course: International Business Environment, language: English, abstract: This paper gives an overview of international trade theories. It demonstrates that the fundamentals of classical and neoclassical theories are still relevant today, albeit they have been adjusted and developed. Modern theorists explain international trade with more realistic approaches, such as Krugman et al.'s New Trade Theory or Porter's theory of National Competitive Advantage. The New Trade Theory includes the existence of increasing return of scale to describe and analyze world trade more accurately. Porter's theory of National Competitive Advantage explains international trade as a consequence of productivity differences between nations due to diverse environments and cultures within economies. Dunning and Porter take a globalized world economy into account in order to describe today's trade. The classical theories of Ricardo and Heckscher-Ohlin are limited in describing today's inter-national trade. However, they are still important factors which contribute to the explanation of real-world trade relations. Ricardo's theory describes inter-industry trade which in fact exists between Northern and Southern economies. The relevance of the approach as an explanation of global trade has to be limited due to the fact that inter-industry trade has only a small impact on international trade. De facto, only a small percentage of world trade can be described by North-South trade. The H-O-T describes intra-industry trade between differently endowed countries, which has been exemplified by the trade between Japan and Taiwan. This is true for the case that countries are in different developmental stages combined with different factor endowments. However, when countries' economies stabilize, their factor endowments approximate. Therefore,

Comparative Cost Advantage And Factor Endowment

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Author : Johannes Frederking
language : en
Publisher: GRIN Verlag
Release Date : 2010-02-15

Comparative Cost Advantage And Factor Endowment written by Johannes Frederking and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-15 with Business & Economics categories.

Seminar paper from the year 2009 in the subject Economics - International Economic Relations, grade: 1.3, University of Applied Sciences Mainz (School of Business), course: International Business Environment, language: English, abstract: This paper gives an overview of international trade theories. It demonstrates that the fundamentals of classical and neoclassical theories are still relevant today, albeit they have been adjusted and developed. Modern theorists explain international trade with more realistic approaches, such as Krugman et al.’s New Trade Theory or Porter’s theory of National Competitive Advantage. The New Trade Theory includes the existence of increasing return of scale to describe and analyze world trade more accurately. Porter’s theory of National Competitive Advantage explains international trade as a consequence of productivity differences between nations due to diverse environments and cultures within economies. Dunning and Porter take a globalized world economy into account in order to describe today’s trade. The classical theories of Ricardo and Heckscher-Ohlin are limited in describing today’s inter-national trade. However, they are still important factors which contribute to the explanation of real-world trade relations. Ricardo’s theory describes inter-industry trade which in fact exists between Northern and Southern economies. The relevance of the approach as an explanation of global trade has to be limited due to the fact that inter-industry trade has only a small impact on international trade. De facto, only a small percentage of world trade can be described by North-South trade. The H-O-T describes intra-industry trade between differently endowed countries, which has been exemplified by the trade between Japan and Taiwan. This is true for the case that countries are in different developmental stages combined with different factor endowments. However, when countries’ economies stabilize, their factor endowments approximate. Therefore, H-O-T’s importance decreases and modern trade theories are required to explain this type of intra-industry trade. Especially since the beginning of globalization in the 1970s, world trade patterns have changed. These changes have only been described briefly because a deeper consideration of this aspect would have exceeded the scope of this paper. For upcoming research it is recommended to concentrate on the changes in the economic geography which globalization has caused. Although some of the modern theories contain post-globalization perspectives, the changing contours of the global economic environment still must be taken more deeply into account in order to analyze today’s international trade.

Factor Endowments Product Differentiation And International Trade

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Author : Johan Torstensson
language : en
Publisher: Department of Economics University of Lund
Release Date : 1992-01-01

Factor Endowments Product Differentiation And International Trade written by Johan Torstensson and has been published by Department of Economics University of Lund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-01-01 with Commerce categories.

Endowment Versus Finance

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Author : Mr.Jiandong Ju
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-06-01

Endowment Versus Finance written by Mr.Jiandong Ju and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-06-01 with Business & Economics categories.

This paper develops a theory of international trade in which financial development and factor endowments jointly determine comparative advantage. We apply the financial contract model of Holmstrom and Tirole (1998) to the Heckscher-Ohlin-Samuelson (HOS) model in which firms' dependence on external finance is endogenous, and the demand for external finance is constrained by financial development. The theory nests HOS model as a special case. A key result that emerges is what we call the law of a wooden barrel: if the external finance constraint is binding, then further financial development will increase the output of the industry more dependent on external finance, and decrease the output of the other industry. It is shown that financial development makes both labor and unemployed capital better off, but incumbent capital worse off. Therefore, financial development depends on the relative strength of political forces among labor, unemployed capital owners, and incumbent capital owners. If only the capital constraint is binding, on the other hand, the standard HOS predictions will apply.

Comparative Advantage In International Trade

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Author : Mirela Keuschnigg
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Comparative Advantage In International Trade written by Mirela Keuschnigg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

Traditional trade theory explains trade only by differences between countries, notably differences in their relative endowments of factors of production. It suggests an inverse relationship between the similarity of countries and the volume of trade between them. The Heckscher-Ohlin (HO) factor propor tions theory derives the determinants of comparative advantage in a world of "two-ness" (two goods, two factors, two countries). It predicts that each country will export that good which uses the country's abundant factor rel atively most intensively. The literature on trade offers an impressive number of studies based on the HO theory. The main methodological problems en countered in the literature are: first, the appropriate formulation of the HO theorem in a multi-factor, multi-good and multi-country framework; second, proper tests of the HO theory and proper links of the theory to empirical analysis. The relevance of the HO theory began to be questioned when important facts of modern international trade proved to be inconsistent with its theoretical framework. Leontief (1953) tested the factor proportions theory, using the US data for 1947, and found that the US had more labor-intensive exports than imports, which is opposed to both perceptions and estimations of factor endowments. The Leontief Pamdoxcreated doubt as to whether or not actual trade patterns and factor endowments are related as predicted by theory, and caused many controversial discussions with regard to the proper empirical implementation of the factor proportions theory.

Theory Policy And Dynamics In International Trade

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Author : Wilfred J. Ethier
language : en
Publisher: Cambridge University Press
Release Date : 1993

Theory Policy And Dynamics In International Trade written by Wilfred J. Ethier and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.

This book presents a representative collection of papers on international trade, one of the most dynamic sub-fields in economics. The contributions range over all the major areas of research, including articles on the geographical aspects of international trade by Paul Krugman and Alan Deardorff, on dynamic stochastic economies by Avinash Dixit, and on endogenous growth by Gene Grossman and Elhanan Helpman. In addition to the theoretical contributions, the book also contains work on important policy issues such as auction quotas, discussed by Kala Krishna, and the role of government in economic development, by Anne Krueger. Also included is an assessment by Bill Ethier of the theoretical achievements of a leading authority in international trade theory, Ronald Jones, in whose honour the essays were written.

International Trade In Financial Services

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Author :
language : en
Publisher: World Bank Publications
Release Date :

International Trade In Financial Services written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Lecture Notes On International Trade Theory And Policy

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Author : Richard Pomfret
language : en
Publisher: World Scientific Publishing Company
Release Date : 2008-10-08

Lecture Notes On International Trade Theory And Policy written by Richard Pomfret and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-08 with Business & Economics categories.

This book provides a comprehensive review of the theory of international trade and trade policy, including coverage of recent areas of research such as heterogeneous firm trade models and trade costs. It then proceeds to analyze the history of trade policies and the evolution of the global trading system, with a primary focus on important policies or controversial issues such as the Doha Round, antidumping duties, regionalism and fair trade. It aims to emphasize the significance of different theories and how they are interconnected. Unlike other technique-driven international economics textbooks, this book focuses on readers understanding how theory and policy are connected. Written in a lecture note format and in a straightforward manner, the presentation is self-contained with no assumed mathematical knowledge.

Sources Of International Comparative Advantage

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Author : Edward E. Leamer
language : en
Publisher: MIT Press (MA)
Release Date : 1984

Sources Of International Comparative Advantage written by Edward E. Leamer and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.

This is the first book to present a clear empirical picture of the international exchange of goods and of the resources that account for the exchanges that occur. It fully articulates the Heckscher-Ohlin theory of international comparative advantage, in which a country's factor endowments (land, labor, capital) play a crucial role in determining trade patterns. The theory is carefully link to the book's analysis. Using tables, graphs, and econometric data summaries, Learner describes the patterns of trade and the patterns of resource supplies of fifty-nine countries and explains these trade patterns in terms of the abundance of eleven resources. His study should create a standard by which other data analyses will be judged in the future. Edward E. Learner is Professor of Economics at the University of California at Los Angeles.