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Absolute Advantages and Capital Mobility in International Trade Theory

Author

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  • Bellino, Enrico

    () (Università Cattolica del Sacro Cuore (Catholic University of the Sacred Heart))

  • Fratini, Saverio M.

    () (Roma Tre University)

Abstract

In this paper we will focus upon the role of absolute advantages in international specialization in connection with the phenomenon of capital mobility. We will provide a historical and analytical reconstruction of the main contributions, starting from the contrast between Smith’s and Ricardo’s standpoint on the issue. Two deep-rooted conclusions will be questioned by the analysis of this literature: (a) the unequivocal mutual benefits of opening up to international trade; and (b) the specialization of each country in the production of at least one good. With regard to this point, we will also provide a generalization of a result obtained by Parrinello (2010).

Suggested Citation

  • Bellino, Enrico & Fratini, Saverio M., 2019. "Absolute Advantages and Capital Mobility in International Trade Theory," Centro Sraffa Working Papers CSWP38, Centro di Ricerche e Documentazione "Piero Sraffa".
  • Handle: RePEc:ris:sraffa:0038
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    Keywords

    capital mobility; absolute advantage; specialization.;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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