Absolute Advantages and Capital Mobility in International Trade Theory

Enrico Bellino () and Saverio Fratini
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Enrico Bellino: Università Cattolica del Sacro Cuore (Catholic University of the Sacred Heart)

No CSWP38, Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa"

Abstract: In this paper we will focus upon the role of absolute advantages in international specialization in connection with the phenomenon of capital mobility. We will provide a historical and analytical reconstruction of the main contributions, starting from the contrast between Smith’s and Ricardo’s standpoint on the issue. Two deep-rooted conclusions will be questioned by the analysis of this literature: (a) the unequivocal mutual benefits of opening up to international trade; and (b) the specialization of each country in the production of at least one good. With regard to this point, we will also provide a generalization of a result obtained by Parrinello (2010).

Keywords: capital mobility; absolute advantage; specialization. (search for similar items in EconPapers)
JEL-codes: B51 D24 F21 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2019-11-12
New Economics Papers: this item is included in nep-hme, nep-int and nep-ore
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:sraffa:0038

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