国际贸易与金融双语ch(8).ppt

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1、InternationalEconomicsByRobertJ.Carbaugh9thEditionChapter4:TradeModelExtensionsandApplicationsFactorendowmenttheory(Heckscher-Ohlin)Comparativeadvantageisexplainedentirelybydifferentnationalsupplyconditions,especiallyresourceendowmentsNationsexportproductsthatuseinputswhicharerela

2、tivelyabundant(cheap)athome,andimportproductswhichneedinputswhicharerelativelyscarce(expensive)athomeWhyrelativepricedifferentials?2Carbaugh,Chap.4Factorendowmenttheory:assumptionsNationsallhavethesametastesandpreferences(sameindifferencecurves)Theyusefactorinputswhichareofuniform

3、qualityTheyallusethesametechnologyWhyrelativepricedifferentials?3Carbaugh,Chap.4ComparativeadvantageaccordingtofactorendowmenttheoryFactorendowmentmodelAutarkyequilibrium4Carbaugh,Chap.4ComparativeadvantageaccordingtofactorendowmenttheoryFactorendowmentmodelPost-tradeequilibrium5C

4、arbaugh,Chap.4Factorendowmenttheory:implicationsFactorpriceequalizationTheshiftwithineachnationtowardsuseofcheaperfactors,andawayfromexpensiveones,leadstomoreequalfactorprices(iffactorsaremobile)DistributionofincomeTradechangesdomesticdistributionofincomeasdemandfordifferentfactor

5、schangesTestsoffactorendowmenttheoryEmphasizetheimportanceofvarietiesofdifferentfactors(suchashumancapital)andaccountingforchangesinresourceendowment;otherexplanationsarealsoimportantFactorendowmentmodel6Carbaugh,Chap.4Doestradeworseninequality?Tradetheorysuggeststhatcountrieswith

6、abundantskilledlaborwillimportgoodswhicharemadewithunskilledlaborEquilibriumwageratiosforskilled/unskilledlaborareaffectedbytradeandtechnologychange,immigration,andeducation&trainingEvidencesuggeststhattradecontributesrelativelylittletowageinequality,comparedtotechnologicalchangea

7、ndotherfactors;bettereducationandtrainingarepotentialsolutionsDistributionofincome7Carbaugh,Chap.4Economiesofscale&specializationEconomiesofscaleprovideincentivesforspecialization,sinceperunitcostsgodownasproductionincreasesTradeprovidesalargerpotentialmarketforproducts,makinghigh

8、erproductionlevelspossibleBringin