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| Author: | Tyers, R. Yang, Y. |
| Title: | Trade with Asia and skill upgrading: effects on factor markets in the older industrial countries |
| Journal: | Weltwirtschaftliches Archiv
1997 : VOL. 133:3, p. 383-418 |
| Index terms: | TRADE ASIA SKILLS |
| Language: | eng |
| Abstract: | The Heckscher-Ohlin-Samuelson (HOS) trade model predicts that rapid growth in labor abundant yet land capital scarce developing countries affects the distribution of income in their developed trading patterns in well-defined ways. Key results for the developed country are that the real wage falls and that both sectors become more intensive in newly cheap labour. The accumulation of capital in the developing country causes the relatively capital- intensive sector, industry, to expand while agriculture contracts. |
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