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A practical Heckscher-Ohlin model

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Adrian Wood (ODID)

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Abstract

This paper offers a formalisation of the insights of Heckscher and Ohlin that is more consistent with the evidence than standard models, and simple enough to be used for teaching and policy analysis, as well as for research. It describes both the effects of a country's factor endowments on the commodity composition of its trade and the effects of trade-related changes in goods prices on factor prices. The model applies to any numbers of goods or factors. Trade costs, including policy barriers, play a central role in the model, especially by reducing elasticities of demand.

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File URL: http://www3.qeh.ox.ac.uk/RePEc/qeh/qehwps/qehwps170.pdf
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Paper provided by Queen Elizabeth House, University of Oxford in its series QEH Working Papers with number qehwps170.

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Handle: RePEc:qeh:qehwps:qehwps170

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Andrew B. Bernard & J. Bradford Jensen & Stephen J. Redding & Peter K. Schott, 2007. "Firms in International Trade," NBER Working Papers 13054, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Bowen, Harry P & Leamer, Edward E & Sveikauskas, Leo, 1987. "Multicountry, Multifactor Tests of the Factor Abundance Theory," American Economic Review, American Economic Association, vol. 77(5), pages 791-809, December. [Downloadable!] (restricted)
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  3. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," NBER Working Papers 10480, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. David Hummels & Alexandre Skiba, 2004. "Shipping the Good Apples Out? An Empirical Confirmation of the Alchian-Allen Conjecture," Journal of Political Economy, University of Chicago Press, vol. 112(6), pages 1384-1402, December.
    Other versions:
  5. Adrian Wood (QEH), . "Openness is a Matter of Degree: How Trade Costs Reduce Demand Elasticities," QEH Working Papers qehwps169, Queen Elizabeth House, University of Oxford. [Downloadable!]
  6. Ronald W. Jones, 1965. "The Structure of Simple General Equilibrium Models," Journal of Political Economy, University of Chicago Press, vol. 73, pages 557. [Downloadable!] (restricted)
  7. Helpman, Elhanan, 1984. "The Factor Content of Foreign Trade," Economic Journal, Royal Economic Society, vol. 94(373), pages 84-94, March. [Downloadable!] (restricted)
  8. Keesing, Donald B & Sherk, Donald R, 1971. "Population Density in Patterns of Trade and Development," American Economic Review, American Economic Association, vol. 61(5), pages 956-61, December. [Downloadable!] (restricted)
  9. John Romalis, 2004. "Factor Proportions and the Structure of Commodity Trade," American Economic Review, American Economic Association, vol. 94(1), pages 67-97, March. [Downloadable!]
  10. Trefler, Daniel, 1995. "The Case of the Missing Trade and Other Mysteries," American Economic Review, American Economic Association, vol. 85(5), pages 1029-46, December. [Downloadable!] (restricted)
  11. Wood, Adrian, 1998. "Globalisation and the Rise in Labour Market Inequalities," Economic Journal, Royal Economic Society, vol. 108(450), pages 1463-82, September. [Downloadable!] (restricted)
  12. Adrian Wood (QEH), . "Heckscher-Ohlin in Theory and Reality," QEH Working Papers qehwps157, Queen Elizabeth House, University of Oxford. [Downloadable!]
  13. Donald J. Robbins, 1996. "Evidence on Trade and Wages in the Developing World," OECD Development Centre Working Papers 119, OECD, Development Centre. [Downloadable!]
  14. Markusen, James R. & Venables, Anthony J., 2007. "Interacting factor endowments and trade costs: A multi-country, multi-good approach to trade theory," Journal of International Economics, Elsevier, vol. 73(2), pages 333-354, November. [Downloadable!] (restricted)
  15. Anderson, Edward, 2005. "Openness and inequality in developing countries: A review of theory and recent evidence," World Development, Elsevier, vol. 33(7), pages 1045-1063, July. [Downloadable!] (restricted)
  16. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November. [Downloadable!] (restricted)
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  17. Donald R. Davis & David E. Weinstein, 2001. "An Account of Global Factor Trade," American Economic Review, American Economic Association, vol. 91(5), pages 1423-1453, December. [Downloadable!] (restricted)
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  18. Anthony J. Venables, 2003. "Winners and losers from regional integration agreements," Economic Journal, Royal Economic Society, vol. 113(490), pages 747-761, October. [Downloadable!] (restricted)
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  19. Owens, Trudy & Wood, Adrian, 1997. "Export-oriented industrialization through primary processing?," World Development, Elsevier, vol. 25(9), pages 1453-1470, September. [Downloadable!] (restricted)
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