Absolute advantages and capital mobility in international trade theory
Enrico Bellino and
Saverio Fratini
The European Journal of the History of Economic Thought, 2022, vol. 29, issue 2, 271-293
Abstract:
Capital mobility has the potential of undermining the validity of Ricardo’s theory of comparative advantage. Within this context, the tendency towards a uniform rate of profit makes absolute costs relevant for the analysis of specialisation patterns. A historical and analytical reconstruction is presented of a few significant contributions addressing this point, with a particular focus on the possibility of exclusion from trade and production “desertification” caused by a country’s low profitability of capital. A generalisation of a result obtained by Parrinello is provided.
Date: 2022
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Working Paper: Absolute Advantages and Capital Mobility in International Trade Theory (2019) 
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Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:29:y:2022:i:2:p:271-293
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DOI: 10.1080/09672567.2021.1967418
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