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| Tekijä: | Cavusoglu, N. Elmslie, B. |
| Otsikko: | The chain version of comparative advantage: An empirical investigation |
| Lehti: | Review of World Economics
2005 : VOL 141:3, p. 404-421 |
| Asiasana: | Comparative advantage Theories Models USA |
| Kieli: | eng |
| Tiivistelmä: | This paper tests the chain version of the Heckscher-Ohlin (H-O) theorem empirically for the first time by using data on capital and labour endowments and capital/labour intensities by sector combined with export/import data for the United States. According to the paper's findings, predictions of the theory are not confirmed by the data. However, when gross investment is used as a proxy for productive capital stock and capital/labour ratios are replaced by investment/labour ratios, almost perfect concordance are found btw. net trade flows and endowments as predicted by theory. |
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