Three Models

Branko Horvat
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Branko Horvat: The Institute for Advanced Studies

Chapter 12 in The Theory of International Trade, 1999, pp 75-81 from Palgrave Macmillan

Abstract: Abstract So far only two models of foreign trade have been developed and fully explored. The classical or Ricardian model is the older one. The neoclassical or Heckscher—Ohlin model is the contemporary one. Following the lead provided by J. Bhagwati and T.N. Srinivasan (1983, pp. 9, 50), I shall describe them in the somewhat modified fashion indicating the essential characteristics in Table 12.1.

Keywords: Comparative Advantage; Foreign Trade; Neoclassical Model; Pure Competition; Abundant Factor (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98338-6_12

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DOI: 10.1057/9780333983386_12

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