[经济学]国际经济学 萨尔瓦多 英文PPTchapter5.pptVIP

Chapter 5 Factor Endowments and the Heckscher-Ohlin Theory Introduction extend trade model in two important directions First, explain the basis of comparative advantage Introduction the difference in relative commodity prices between two nations is evidence of their comparative advantage and forms the basis for mutually beneficial trade one step further and explain the reason, or cause, for the difference in relative commodity prices and comparative advantage between the two nations Introduction second: analyze the effect that international trade has on the earnings of factors of production in the two trading nations examine the effect of international trade on the earnings of labor as well as on international differences in earnings Introduction These two important questions were left largely unanswered by Smith, Ricardo, and Mill classical economists: comparative advantage was based on the difference in the productivity of labor (the only factor of production) among nations, but they provided no explanation for such a difference in productivity, except for possible differences in climate Introduction The Heckscher-Ohlin theory (H-O theory) goes much beyond that by extending the trade model to examine the basis for comparative advantage and the effect that trade has on factor earnings in the two nations Structure Section 5.2:the assumptions of the theory Section 5.3: clarifies the meaning of factor intensity and factor abundance, and explains how the latter is related to factor prices and the shape of the production frontier in each nation Section 5.4: presents the H-O model properly and illustrates it graphically. Structure Section 5.5 : examines the effect of international trade on factor earnings and income distribution in the two nations Section 5.6: concludes the chapter by reviewing empirical tests of the H-O trade model The appendix presents the formal derivation of the factor-price equalization theorem and introduces more advanced tools for empir