Heckscher–Ohlin Trade Flows: A Re-appraisal

Ronald Jones

Chapter 7 in International Trade Theory and Competitive Models:Features, Values, and Criticisms, 2018, pp 109-115 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The famous Leontief paradox compared the factor proportions used in a country’s export sectors with those used in that country’s import-competing sectors in order to conclude whether a country was relatively capital abundant (in a two-factor, labor, and capital setting). When examined in a two-factor, many commodity setting, this procedure reveals the troubling conclusion that as a country’s relative capital endowment rises, its export sector relative to its import-competing sector cycles from being labor-intensive to being capital-intensive, to being labor-intensive, etc., which serves to invalidate the Leontief procedure.

Keywords: International Trade Theory; Models; Competitive Markets (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Date: 2018
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