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Property rights, mobile capital, and comparative advantage

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  • Karp, Larry

Abstract

Recent papers show that imperfect property rights to a natural resource--a sector-specific factor--can be a source of comparative advantage. in these models, weaker property rights attract labor--the only mobile factor--to the resource sector, increasing the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration of property rights has ambiguous effects on comparative advantage and on the equilibrium wage-rental ratio.
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  • Karp, Larry, 2003. "Property rights, mobile capital, and comparative advantage," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt4jt9j6dn, Department of Agricultural & Resource Economics, UC Berkeley.
    • Handle: RePEc:cdl:agrebk:qt4jt9j6dn
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    References listed on IDEAS

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    Cited by:

    1. Michael Margolis & Jason F. Shogren, 2009. "Endogenous enclosure in North-South trade," Canadian Journal of Economics, Canadian Economics Association, vol. 42(3), pages 866-881, August.
    2. Ronan Congar & Louis Hotte, 2021. "Open Access Versus Restricted Access in a General Equilibrium with Mobile Capital," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 78(3), pages 521-544, March.
    3. Larry Karp & Armon Rezai, 2022. "Trade and Resource Sustainability with Asset Markets," Dynamic Games and Applications, Springer, vol. 12(3), pages 929-953, September.

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    More about this item

    Keywords

    imperfect property rights; comparative advantage; general equilibrium;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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