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The New Theories of Trade and UK's Comparative Advantage in Engineering Products

The New Theories of Trade and UK's Comparative Advantage in Engineering Products The Leontief Paradox Leontief, 1953 generated two major responses. There was, on the one hand, the body of research which was directed at further empirical verification of the simple HeckscherOhlin theory using other countries' data. On the other hand, there were the studies which attempted to explain the paradox by turning on the alleged invalidity of specific HeckscherOhlin assumptions. It was from the latter category that the new theories of trade emerged as evolutionary extensions of the basic HeckscherOhlin theory. These hypotheses are concerned with the separate influences of intercountry differences in specific labour skills, technology, and scale economies on the pattern of trade flows in manufactures. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Studies Emerald Publishing

The New Theories of Trade and UK's Comparative Advantage in Engineering Products

Journal of Economic Studies , Volume 9 (3): 7 – Mar 1, 1982

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0144-3585
DOI
10.1108/eb002547
Publisher site
See Article on Publisher Site

Abstract

The Leontief Paradox Leontief, 1953 generated two major responses. There was, on the one hand, the body of research which was directed at further empirical verification of the simple HeckscherOhlin theory using other countries' data. On the other hand, there were the studies which attempted to explain the paradox by turning on the alleged invalidity of specific HeckscherOhlin assumptions. It was from the latter category that the new theories of trade emerged as evolutionary extensions of the basic HeckscherOhlin theory. These hypotheses are concerned with the separate influences of intercountry differences in specific labour skills, technology, and scale economies on the pattern of trade flows in manufactures.

Journal

Journal of Economic StudiesEmerald Publishing

Published: Mar 1, 1982

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