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- Title
An Account of Global Factor Trade.
- Authors
Davis, Donald R.; Weinstein, David E.
- Abstract
A half century of empirical work attempting to predict the factor content of trade in goods has failed to bring theory and data into congruence. Our study shows how the Heckscher-Ohlin-Vanek theory, when modified to permit technical differences, a breakdown in factor price equalization, the existence of nontraded goods, and costs of trade, is consistent with data from ten OECD countries and a rest-of-world aggregate. (JEL Fl, F11, D5)
- Subjects
BUSINESS; INTERNATIONAL trade; CONSUMER goods; FACTOR proportions; COMPARATIVE advantage (International trade); ENDOWMENTS; ECONOMICS; EDUCATION policy; ECONOMETRIC models; FINANCIAL management; COST
- Publication
American Economic Review, 2001, Vol 91, Issue 5, p1423
- ISSN
0002-8282
- Publication type
Article
- DOI
10.1257/aer.91.5.1423