The Development and Testing of Heckscher-Ohlin Trade Models: A Review

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Overview

No names are more closely associated with modern trade theory than Eli Heckscher andBertil Ohlin. The basic Heckscher-Ohlin proposition, according to which a country exports factors in abundant supply and imports factors in scarce supply, is a key component of modern trade theory. In this book, Robert Baldwin traces the development of the HO model, describing the historical twists and turns that have led to the basic modern theoretical model in use today. Baldwin not only presents a clear and cohesive view of the model's evolution but also reviews the results of empirical tests its various versions. Baldwin, who published his first theoretical article on the HOmodel in 1948, first surveys the development of the HO model and then assesses empirical tests of its predictions. Most discussions of empirical work on HO models confine themselves to the basic theorem, but Baldwin devotes a chapter to empirical tests of three related propositions: theStolper-Samuelson theorem; the Rybczynski theorem; and the factor price equalization theorem. He concludes that the formulation and testing of these later models have improved economists'understanding of the forces shaping international trade, but that many empirical trade economists (himself included) were so enamored of the elegant but highly unrealistic factor price equalization models developed from the insights of Heckscher and Ohlin that they have neglected investigation of other models without this relationship.

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What People Are Saying

Alan V. Deardorff

"This book was worth the wait. Baldwin provides a careful and complete explanation both of the Heckscher-Ohlin model in its various forms, and of the empirical work that first failed, then later succeeded, in finding support for it.
Baldwin's insights into both theory and empirics should inform all those who seek to contribute further to understanding international trade."--Alan Deardorff, John W Sweetland Professor of International Economics, University of Michigan

From the Publisher
"This book was worth the wait. Baldwin provides a careful and complete explanation both of the Heckscher-Ohlin model in its various forms, and of the empirical work that first failed,then later succeeded, in finding support for it. Baldwin's insights into both theory and empirics should inform all those who seek to contribute further to understanding international trade."Alan Deardorff , John W. Sweetland Professor of International Economics,University of Michigan
Alan V. Deardorff
"This book was worth the wait. Baldwin provides a careful and complete explanation both of the Heckscher-Ohlin model in its various forms, and of the empirical work that first failed,then later succeeded, in finding support for it. Baldwin's insights into both theory and empirics should inform all those who seek to contribute further to understanding international trade."—AlanDeardorff, John W Sweetland Professor of International Economics, University of Michigan
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Product Details

  • ISBN-13: 9780262026567
  • Publisher: MIT Press
  • Publication date: 12/31/2008
  • Series: Ohlin Lectures
  • Edition description: New Edition
  • Pages: 240
  • Product dimensions: 5.70 (w) x 8.10 (h) x 1.00 (d)

Meet the Author

Robert E. Baldwin is Hilldale Professor Emeritus in the Department of Economics at theUniversity of Wisconsin-Madison. He is the author or coauthor of many books, including most recentlyThe Decline of US Labor Unions and the Role of Trade. He is a Fellow of theAmerican Academy of Arts and Sciences, a Research Associate at the National Bureau of EconomicResearch and a member of the Council on Foreign Relations.

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Table of Contents


1 Introduction 1
2 The Development of Heckscher-Ohlin Trade Models 15
3 Early Empirical Tests of the Heckscher-Ohlin Proposition 61
4 Multi-country, Multi-factor Tests 89
5 Testing for Stolper-Samuelson, Rybczynski, and Factor Price Equalization Effects 121
6 Conclusions and Related Research Topics 171 Notes 189 References 203 Index 217
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