World Scientific Studies in International Economics· 2014· Book chapter
National and International Returns to Scale in the Modern Theory of International Trade
- 1,734citations
- 2014year
Short summary
The dominant Hecksch-Ohlin-Samuelson (H-O-S) trade model, despite its long-standing influence, faces persistent suspicion due to inconsistencies with modern commerce facts.
AI-generated from the title and abstract; the full text is not read.
Key points
- The Hecksch-Ohlin-Samuelson (H-O-S) model has dominated international trade theory for over a quarter century.
- There is a widespread suspicion that the H-O-S model's structure is inconsistent with modern trade facts.
- The paper aims to identify the specific areas of this inconsistency.
AI-generated from the title and abstract; the full text is not read.
Abstract
For over a quarter century, the Heck-scher-Ohlin-Samuelson (H-O-S) trade model has thoroughly dominated work in the pure theory of international trade. Indeed this model is often identified as “the” modern theory of trade. But this dominance has always been rendered uneasy by a widespread suspicion that the salient facts of modern commerce are inconsistent with the theoretical structure. Two broad areas of suspicion may be identified…
The authors' abstract, as published at the source. World Scientific Studies in International Economics, 2014 · DOI ↗
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Field: General Economics, Econometrics and Finance
General Economics, Econometrics and FinanceEconomics, Econometrics and Finance