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The book addresses the empirical validity of the factor proportions theory based on a new, extensive data basis. Departing from Heckscher-Ohlin theory, it extends existing models by allowing factor productivities and factor prices to differ across countries. It reformulates ranking proportions derived from the Heckscher-Ohlin-Vanek equations. Based on these models, it empirically investigates in a cross-industry framework the patterns of international trade for a big sample of countries. The results support the value version of the HOV-model, especially in the case of developing countries. Moreover, the HOV model with perfect competition cannot be rejected in favour of a model allowing for scale economies and product differentiation.
Table des matières
Summary:
Theory: The Basic HOV Theory: The Quantity Version; The Value Version.- Generalizations of HOV Theory: Non-Neutral Technolgical Differences; Internal Increasing Results; External Increasing Results; Internationally Mobile Capital; Armington Preferences.- Theory-Based Empirical Implementation: Direct Tests; Indirect Tests.- Conclusions.- Evidence: Introduction.- Literature Overview: Factor Content Studies; Overview of Cross-Industry-Studies; - Empirical Analysis: Introduction; Description of the Data and Variables; Empirical Results.
