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| Author: | Young, L. Romero, J. |
| Title: | International investment and the positive theory of international trade |
| Journal: | Journal of International Economics
1990 : NOV, VOL. 29:3/4, p. 333-349 |
| Index terms: | INTERNATIONAL TRADE ECONOMIC THEORY DYNAMIC MODELS ECONOMETRIC MODELS CONSUMER GOODS FINANCIAL ANALYSIS TARIFFS RESOURCES |
| Language: | eng |
| Abstract: | A two-period model of international trade with two consumption goods sectors is considered, in which current resources are mobile across sectors and across time periods. The trading country can re-allocate labour between the production of consumption and capital goods. The formal structure of the system resembles that of the Heckscher- Ohlin model. Factor price equalization and change in factor endowments are discussed, the direction of trade in consumption goods and that of international financial flow is analysed, effect of tariffs on output is considered. Short-run output and trade patterns are determined by capital, endowment in the first period long-run outcomes reverse the Rybczynski and Heckscher-Ohlin relationships. |
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