Technology and International Trade: a Heckscher—Ohlin Approach

Carl Hamilton, Hans Tson Söderström and Kemal Dervis

Chapter 5 in The World Economic Order, 1981, pp 198-232 from Palgrave Macmillan

Abstract: Abstract The step from Ricardo to Heckscher—Ohlin in international trade theory carried with it some optimistic overtones with respect to the international distribution of income. The factor price equalisation theorem reduced the problem of rich and poor nations to a question of trade, capital accumulation and functional distribution of income. The promotion of free trade would in the long run be sufficient to equalise between countries the rewards of labour and capital. Reality’s failure to comply with this theoretical prediction has produced a variety of suggestions as to which simplifying assumptions of the Heckscher—Ohlin model are not fulfilled in the real world.

Keywords: Human Capital; Production Function; International Trade; Final Output; Physical Capital (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16488-2_6

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DOI: 10.1007/978-1-349-16488-2_6

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