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| Tekijä: | |
| Otsikko: | Using international and Japanese regional data to determine when the factor abundance theory of trade works |
| Lehti: | American Economic Review
1997 : JUN, VOL. 87:3, p. 421-446 |
| Asiasana: | TRADE PRICES MODELS DATA ANALYSIS INTERNATIONAL JAPAN |
| Kieli: | eng |
| Tiivistelmä: | The Heckscher-Ohlin-Vanek (HOV) model of factor service trade has performed poorly in empirical tests. In spite of these failures the model remains ubiquitous in theory, empirics, and policy analysis. In this article the HOV model is tested with international and Japanese regional data. The strict HOV model cannot explain the international location of production, and restricting the sample to Japanese regions provides no help, inter alia giving rise to so called " mystery of the missing trade". But, when the assumption of universal factor price equalization is relaxed, results improve dramatically. |
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