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Heckscher–Ohlin Trade Flows: A Re-appraisal

In: International Trade Theory and Competitive Models Features, Values, and Criticisms

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  • Ronald W. Jones

Abstract

The famous Leontief paradox compared the factor proportions used in a country’s export sectors with those used in that country’s import-competing sectors in order to conclude whether a country was relatively capital abundant (in a two-factor, labor, and capital setting). When examined in a two-factor, many commodity setting, this procedure reveals the troubling conclusion that as a country’s relative capital endowment rises, its export sector relative to its import-competing sector cycles from being labor-intensive to being capital-intensive, to being labor-intensive, etc., which serves to invalidate the Leontief procedure.

Suggested Citation

  • Ronald W. Jones, 2018. "Heckscher–Ohlin Trade Flows: A Re-appraisal," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 7, pages 109-115, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813200678_0007
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    Keywords

    International Trade Theory; Models; Competitive Markets;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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