IDEAS home Printed from https://ideas.repec.org/a/mes/postke/v26y2004i4p729-744.html
   My bibliography  Save this article

China's trade reform: Verdoorn's Law married to Adam Smith's "vent for surplus" principle

Author

Listed:
  • INGRID H. RIMA

Abstract

The premise is that, as a member of the World Trade Organization, China's industrial trade practices are consistent with the principle of specialization in accordance with the principle of comparative advantage. Yet the trade reforms that were undertaken since the end of the Cultural Revolution (1976) have made direct foreign and joint investment primary vehicles for promoting export-centered industries that have become increasingly capital-intensive rather than labor-intensive. This paper argues that these reforms reflect policy initiatives that are more consistent with Verdoorn's Law and Adam Smith's "vent for surplus" principle than with the efficiency principles of conventional Ricardo-Heckscher-Ohlin trade theory.

Suggested Citation

  • Ingrid H. Rima, 2004. "China's trade reform: Verdoorn's Law married to Adam Smith's "vent for surplus" principle," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 26(4), pages 729-744.
    • Handle: RePEc:mes:postke:v:26:y:2004:i:4:p:729-744
    DOI: 10.1080/01603477.2004.11051409
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/01603477.2004.11051409
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/01603477.2004.11051409?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Faria, João Ricardo & Mollick, André Varella & Albuquerque, Pedro H. & León-Ledesma, Miguel A., 2009. "The effect of oil price on China's exports," China Economic Review, Elsevier, vol. 20(4), pages 793-805, December.
    2. Álvaro Martín Moreno Rivas, 2008. "Las leyes del desarrollo económico endógeno de Kaldor: el caso colombiano," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 10(18), pages 129-147, January-J.
    3. Ricardo Bonilla González & Jorge Iván González, 2006. "Bien-estar y macroeconomía 2002-2006: el crecimiento inequitativo no es sostenible," Publicaciones, CID 2064, Universidad Nacional de Colombia, FCE, CID.
    4. Hande Aksoz Yilmaz, 2021. "Panel Data Model Analysis on the Relationship Between Export and Employment: The Case of OECD Countries," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 8(2), pages 115-139, July.
    5. Xiaolan Fu & V. N. Balasubramanyam, 2005. "Exports, Foreign Direct Investment and Employment: The Case of China," The World Economy, Wiley Blackwell, vol. 28(4), pages 607-625, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:postke:v:26:y:2004:i:4:p:729-744. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MPKE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.