A world trade model based on comparative advantage with m regions, n goods, and k factors

Faye Duchin

Economic Systems Research, 2005, vol. 17, issue 2, pages 141-162

Abstract: This paper describes the World Trade Model, a linear program that determines world prices, scarcity rents, and international trade flows based on comparative advantage in a world economy with m regions, n goods, and k factors. The new model generalizes the World Model of Leontief et al. (1977) in ways that make it particularly useful for analyzing scenarios about sustainable development. Major properties of the model are demonstrated, and sources of the gains from trade are identified for the world as a whole and for individual regions. Illustrative results are reported for a 10-region, 8-good, 3-factor model of the world economy.

Keywords: International trade; world model; comparative advantage; linear programming (search for similar items in EconPapers)
Date: 2005
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