haku: @indexterm Comparative advantage / yhteensä: 75
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| Tekijä: | Ruffin, R. J. |
| Otsikko: | First- and second-best factor comparative advantages and international trade. |
| Lehti: | Economica
1992 : NOV, VOL. 59:236, p. 453-463 |
| Asiasana: | COMPARATIVE ADVANTAGE INTERNATIONAL TRADE ECONOMETRIC MODELS |
| Kieli: | eng |
| Tiivistelmä: | In standard two-country trade theory, countries are symmetrical in the sense that one country's factor endowment or technology is no more important than the other country's in determining the trade pattern. The model presented in the paper shows that genuine asymmetries can arise in which one country may in a certain sense be dominant even though it is a small country. This helps explain the importance of the small countries of Hong Kong, Taiwan and Korea in international trade. In the presented model world demand becomes a crucial determinant of the pattern of trade. |
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