国际投资学第二章课件.pptVIP

Chapter I –part two Factor Endowments Theory Outline of this part 1. The factor-proportions Theory 2. Factor price equalization and the distribution of income 3. Factor Growth and structure adjustment---Rybczynski theorem 4. The specific-factors model 5. Empirical evidence on the factor-proportions theory 1.The factor-proportions theory 1.1 The background of factor-proportions theory 1.2 Assumptions of factor-proportions theory 1.3 The factor-proportions theorem 1.1The background of factor-proportions theory Factor-proportion theory, also called H-O Model, was proposed by two Swedish scholars, Elif Heckscher and Bertil Ohlin in 1930s. So it is also called H-O theory. This theory tried to explain the causes of comparative advantage and states that a country’s comparative advantage is determined by its initial resource endowments. 1.2 Assumptions of factor-proportions theory Only two nations, two products, and two factors-labor and capital. Perfect competition both in the product and factor markets. No transportation cost or other trade barriers. Incomplete specialization All factors and all products are identical. Consumers have equal tastes and preferences. Technology available is the same in two nations and constant returns to scale. Factor can move freely in one nation and can not move between the two nations. Two products have different factor-intensity. Two countries have different factor-abundance. Factor intensity要素密集度：系指生产某种产品所投入两种生产要素的比例。 Both home nation (A) and foreign nation (B) use capital (K) and labor (L) to produce commodity X and commodity Y. If (KX/LX）（KY/LY) in production of per unit X and per unit Y per unit labor matches less capital in the production of Y , per unit labor matches more capital in the production of X. we say commodity Y is a relatively labor-intensive commodity (劳动密集型产品）, and X is a relatively capital-intensive commodity（资本密集型产品）. Factor-abundance要素充裕度，指一国所拥有的两种生产要素的相对比例 According to the factor quantities, if TKA/TLATKB/