The Ricardian Theory of International Trade国际李嘉图贸易理论.docVIP

PAGE PAGE PAGE 2 TEXTO PARA DISCUSS?O N? 141 THE RICARDIAN THEORY OF INTERNATIONAL TRADE: A CRITICISM Cláudio Gontijo Setembro de 2000  Ficha Catalográfica 339.5 G641r 2000 Gontijo, Cláudio. The Ricardian Theory of International Trade: A Criticism / por Cláudio Gontijo. Belo Horizonte: UFMG/Cedeplar, 2000. 26p. (Texto para Discuss?o, 141) 1. Rela??es econ?micas internacionais – Modelos matemáticos. 2. Comércio internacional – Modelos matemáticos. I. Universidade Federal de Minas Gerais. Centro de Desenvolvimento e Planejamento Regional. II. Título. III. Série. UNIVERSIDADE FEDERAL DE MINAS GERAIS FACULDADE DE CIêNCIAS ECON?MICAS CENTRO DE DESENVOLVIMENTO E PLANEJAMENTO REGIONAL THE RICARDIAN THEORY OF INTERNATIONAL TRADE: A CRITICISM Cláudio Gontijo Professor do Departamento de Ciências Econ?micas da UFMG. CEDEPLAR/FACE/UFMG 2000 SUMáRIO 1. INTRODUCTION 7 2. A SIMPLE MODEL OF LONG-RUN EQUILIBRIUM PRICES FOR THE GOLD STANDARD .. 8 3. A SIMPLE MODEL FOR BALANCED GROWTH (DUALITY) 12 4. COMPARATIVE ADVANTAGE AND PROFITABILITY 13 5. COMPARATIVE ADVANTAGE, BALANCE OF TRADE, AND GROWTH 16 6. COMPARATIVE ADVANTAGES AND PROFIT RATE EQUALIZATION 16 7. COMPARATIVE OR ABSOLUTE ADVANTAGES? 17 8. COMPARATIVE ADVANTAGES AND THE EXCHANGE RATE 19 9. A NUMERICAL EXAMPLE 20 10. CONCLUSIONS 23 BIBLIOGRAPHY 24  1. INTRODUCTION For almost two centuries, the theory of international trade has been entirely dominated by the principle of comparative advantage. Originally formulated by Ricardo (or Torrens) based on the labor theory of value, Chipman (1966, p. 482) argues that “it would be fair to say that both Torrens and Ricardo contributed in essential ways to the development of the law of comparative advantage; and that credit for the principal discovery should go to Torres”. this principle was incorporated into the supply-and-demand approach, through the Heckscher-Ohlin model. See Samu