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Author: Ms.Dalia Hakura Publisher: International Monetary Fund ISBN: 1451849133 Category : Business & Economics Languages : en Pages : 36
Book Description
While the Heckscher-Ohlin-Vanek (HOV) theorem has been a dominant paradigm in trade theory, the empirical evidence to support it has been weak. This paper develops a modified HOV model that allows technologies to differ across countries. The revised model significantly improves the theory’s accuracy in predicting trade flows in contrast to the traditional model. The paper also illustrates that, since countries have different technologies, measures of factor contents of trade in final goods using direct and domestically produced indirect input requirements are more accurate and yield more consistent predictions than do traditional measures.
Author: Ms.Dalia Hakura Publisher: International Monetary Fund ISBN: 1451849133 Category : Business & Economics Languages : en Pages : 36
Book Description
While the Heckscher-Ohlin-Vanek (HOV) theorem has been a dominant paradigm in trade theory, the empirical evidence to support it has been weak. This paper develops a modified HOV model that allows technologies to differ across countries. The revised model significantly improves the theory’s accuracy in predicting trade flows in contrast to the traditional model. The paper also illustrates that, since countries have different technologies, measures of factor contents of trade in final goods using direct and domestically produced indirect input requirements are more accurate and yield more consistent predictions than do traditional measures.
Author: Robert E. Baldwin Publisher: MIT Press ISBN: 0262262053 Category : Business & Economics Languages : en Pages : 241
Book Description
A review of the theoretical twists and turns in the development of the Heckscher-Ohlin model and an empirical assessment of the basic model and three related theorems. No names are more closely associated with modern trade theory than Eli Heckscher and Bertil Ohlin. The basic Heckscher-Ohlin proposition, according to which a country exports factors in abundant supply and imports factors in scarce supply, is a key component of modern trade theory. In this book, Robert Baldwin traces the development of the HO model, describing the historical twists and turns that have led to the basic modern theoretical model in use today. Baldwin not only presents a clear and cohesive view of the model's evolution but also reviews the results of empirical tests its various versions. Baldwin, who published his first theoretical article on the HO model in 1948, first surveys the development of the HO model and then assesses empirical tests of its predictions. Most discussions of empirical work on HO models confine themselves to the basic theorem, but Baldwin devotes a chapter to empirical tests of three related propositions: the Stolper-Samuelson theorem; the Rybczynski theorem; and the factor price equalization theorem. He concludes that the formulation and testing of these later models have improved economists' understanding of the forces shaping international trade, but that many empirical trade economists (himself included) were so enamored of the elegant but highly unrealistic factor price equalization models developed from the insights of Heckscher and Ohlin that they have neglected investigation of other models without this relationship.
Author: L. Nijs Publisher: Springer ISBN: 1137535563 Category : Business & Economics Languages : en Pages : 317
Book Description
In today's increasingly globalized environment, many economic fundamentals need to be reconsidered in order to regain stability in the global marketplace. One such consideration is the failing dynamics of the international tax infrastructure. Neoliberalism 2.0 brings a 21st century assessment of the Pigovian taxes, considering a completely new calibration of the international tax systems, inspired by the historically developed Pigovian tax model. The book considers the impact neoliberalism had and will have on regulatory infrastructure, democracy in an era of globalization and reduced legitimation of the national state. The Pigovian model brings home the often forgotten relationship between taxation (as a part of the regulatory sphere), macro-economics, and the political-philosophical context in which law and economics emerge. The model also takes into account the phenomena of globalization and financialization and is tested using the financial sector as an example. This book addresses the many challenges a Pigovian shift would imply for the sovereign and its national economies. Neoliberalism 2.0 demonstrates the ability to design a paradigm-changing alternative to the current tax infrastructure, while taking into account a low economic growth environment of the future, the implications of globalization and the changing relationship between citizens and their state.
Author: Antoni Estevadeordal Publisher: ISBN: Category : Economics Languages : en Pages : 48
Book Description
An empirical tradition in international trade seeks to establish whether the predictions of factor abundance theory match present-day data. In the analysis of goods trade and factor endowments, mildly encouraging results were found by Leamer et al. But ever since the appearance of Leontief's paradox, the measured factor content of trade has always been found to be far smaller than its predicted magnitude in the Heckscher-Ohlin-Vanek framework, the so-called 'missing trade' mystery. We wonder if this problem was there in the theory from the beginning. This seems like a fairer test of its creators' original enterprise. We apply contemporary tests to historical data on goods and factor trade from Ohlin's time. Our analysis is set in a very different context than contemporary studies -- an era with lower trade barriers, higher transport costs, a more skewed global distribution of the relevant factors (especially land), and comparably large productivity divergence. We find some support for the theory, but also encounter common problems. Our work thus complements the tests applied to today's data and informs our search for improved models of trade.
Author: P.J. van Beukering Publisher: Springer Science & Business Media ISBN: 9401596948 Category : Business & Economics Languages : en Pages : 240
Book Description
During the last century international trade has become indispensable for many economies. This is not only the case for trade in primary raw materials and consumer products but also for secondary (recyclable) materials. With the rapid growth of the recycling sector worldwide, trade in recyclables increased tremendously. It is striking that most of this trade flows from developed to developing countries. This book addresses the main causes of this typical trade pattern and investigates its economic and environmental effects by carrying out case studies on waste paper imports in India, waste plastics imports in China, and used-tyre trade in Europe. The book concludes by recommending policies that are aimed at preventing negative economic and environmental effects potentially resulting from trade in recyclables. The book offers new ideas to researchers who are involved in international trade, material flows, and waste management, and provides new insights for decision-makers who are interested in WTO and the Basel Convention.
Author: Takashi Uchiyama Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Applying Burgstaller's Ricardian two-sector growth model to the two-country open economy, this paper shows that the long-run Heckscher-Ohlin theorem holds also in a Ricardian world. In addition it is shown that, if two Ricardian countries that are different only in their demand parameters open trade, comparative advantage and the corresponding trade pattern at trade opening continue in the long run after the opening of trade.
Author: Ms.Dalia Hakura
Author: Ms.Dalia Hakura
Author: Alan V. Deardorff
Author: Robert E. Baldwin
Author: L. Nijs
Author: Gary L. French
Author: Antoni Estevadeordal
Author: P.J. van Beukering
Author: Takashi Uchiyama
Author: Subimal Mookerjee
Author: