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International trade - International Trade Theory | | International trade - International Trade Theory: Encyclopedia II - International trade - International Trade Theory | |
The Ricardian Theory is the theory of comparative advantage and is perhaps the most important concept in international trade theory.
The Heckscher-Ohlin theory was produced as an alternative to the Ricardian theory of basic comparative advantage. Despite its more complex and accurate predictive power, it also had an ideological mission: the elimination of the labor theory of value and the incorporation of the neoclassical price mechanism into international trade theory. The theory argues that the pattern of internation ...
See also:International trade, International trade - International Trade Theory, International trade - Regulation of international trade, International trade - Risks in international trade | | | International trade, International trade - International Trade Theory, International trade - Regulation of international trade, International trade - Risks in international trade, List of international trade topics, Balance of trade, Comparative advantage, Customs union, Economics, Free trade, Free trade area, Most favoured nation clause, OPEC, Trade bloc, List of countries by imports, List of countries by exports | | |
| | | International trade: Encyclopedia II - International trade - International Trade Theory
International trade - International Trade Theory
The Ricardian Theory is the theory of comparative advantage and is perhaps the most important concept in international trade theory.
The Heckscher-Ohlin theory was produced as an alternative to the Ricardian theory of basic comparative advantage. Despite its more complex and accurate predictive power, it also had an ideological mission: the elimination of the labor theory of value and the incorporation of the neoclassical price mechanism into international trade theory. The theory argues that the pattern of international trade is determined by differences in factor endowments. It predicts that countries will export those goods that make intensive use of locally abundant factors and will import goods that make intensive use of factors that are locally scarce.
Other related archivesAmber Road, Balance of trade, Britain, Communist, Comparative advantage, Customs union, Economics, Fascist, Free trade, Free trade area, GATT, GDP, Great Depression, Industrialization, International trade, Japan, List of countries by exports, List of countries by imports, List of international trade topics, Mercantilism, Most favoured nation clause, Netherlands, OPEC, Second World War, Silk Road, Trade bloc, United Kingdom, United States, World Trade Organization, autarky, bilateral, comparative advantage, currency, economics, export, free trade, globalization, ideological, import, international economics, international finance, multilateral, multinational corporations, outsourcing, political sovereignty, recessions, self-sufficiency, socialist, tariffs, transportation
 Adapted from the Wikipedia article "International Trade Theory", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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