国际贸易学(英)第5章

This is the process by which relative factor prices are equalized
Trade also equalizes the absolute returns to homogeneous factors.
5.6.3 Effect of trade on the distribution of income
5.4.2 General equilibrium framework of
the Heckscher - Ohlin theory
Tastes
Demand for final commodities
Derived demand for factors
Distribution of ownership of factors of production
Commodity prices
Factor prices
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Technology
Supply of factors
5.5 Illustration of the Heckscher - Ohlin Theory
5.6 Factor - Price Equalization and Income Distribution Paul Samuelson ----- 1970 Nobel Prize in economics
(Factor proportions; Factor endowment theory) 5.4.1 views of the Heckscher - Ohlin theorem
1. Differences in relative factor endowments among nations underlie the basis for trade.
Nation 2 is capital abundant if TK2/TL2 > TK1/TL1
b. In terms of relative factor prices: the rental price of capital and the price of labor time in each nation. The ratio of the rental price of capital to the price of labor time
5.3.2. Factor abundance a. In terms of physical units : the overall amount of capital and labor available to each nation. The ratio of the total amount of capital to the total amount of labor.
Specializes in the production of commodity X
The relative demand for labor rises
Price of labor (wage) rises
Price of labor (wage) falls
5.6.2 Relative factor-price equalization
Chapter 5 Factor Endowments and the(要素禀赋说） Heckscher-Ohlin Theory （赫克雪尔-俄林定理）
经济学院 柳哲
Chapter 5 Factor Endowments and the(要素禀赋说）
Heckscher-Ohlin Theory （赫克雪尔-俄林定理） (Trade Model Extensions and applications) 5.1 introduction
2. A nation will export the commodity in the production of which a relatively large amount of its abundant and cheap resource is used. 3. Conversely, it will import commodities in the production of which a relatively scarce and expensive resource is used. 4.With trade the relative differences in resource prices between nations tend to be eliminated
"International Trade and the Equalization of Factor Prices", 1948
Factor-price equalization theorem referred to as the H-O-S theorem
5.6.1 The factor-price equalization theorem
(5) Incomplete specialization in production; (6) Equal tastes in both nations;
(7) Perfect competition in both commodities and factor markets; (8) Perfect internal but no international mobility of factor; (9) No transportation costs, tariffs, or other obstructions to the free flow of international trade; (10) All resources are fully employed; (11) Trade is balanced.
International trade will bring about equalization in the relative and absolute returns to homogeneous factors across nations.
Both relative and absolute factor prices will be equalized.
Nation 1 is Labor abundant X is L-intensive commodity, X is with comparative advantage.
Nation 2 is capital abundant , Y is K-intensive commodity, Y is with comparative advantage.
The relative price of labor (wage rate) is lower
The relative price of capital (interest rate) is lower and the relative price of labor is higher Specializes in the production of commodity Y,reduces production of X (L-intensive) The relative demand for labor falls
5.3 Factor intensity, Factor abundance,
and the shape of the production frontier 5.3.1. factor intensity The commodity Y is capital intensive if the capital-labor ratio (K/L) used in the production of Y is greater than K/L used in the production of X ( is not the absolute amount of K and L.)
In Nation 1, K/L in X: 1/4 in Y : 1 So, X is L- intensive commodity; Y is K-intensive
In Nation 2, K/L in X: 1 in Y: 4 So, X is L-intensive commodity, Y is K-intensive
Ohlin was awarded the 1977 Nobel prize in economics for his contribution to the theory of international trade.
5.2. Assumptions of the theory
(1) two nations, two commodities (X,Y), and two factors of production (labor ,capital) (2) Both nations use the same technology in production; (3) The same commodity is labor intensive in both nations X --- labor intensive ;Y---- capital intensive (4) Constant returns to scale;
1. Trade increases the prices of the nation’s abundant and cheap factor ; And reduces the price of its scarce and expensive factor 2. International trade causes real wages and the real income of labor to fall in a capital-abundant and labor-scarce nation. International trade causes real wages and the real income of labor to rise in a labor-abundant and capital-scarce nation. Should the U.S. government restrict trade? The loss that trade causes to labor is less than the gain received by owners of capital.
The obvious question is : Why does Nation 2 use more K-intensive production techniques in both commodities than Nation 1 ? Why is capital relatively cheaper in Nation 2 ?
Y
Nation 2 Nation 1 Nation 1 is the L-abundant nation; X is the L-intensive commodity So, Nation 1 can produce relatively more of commodity x
X
5.4 The Heckscher-Ohlin Theory
Pk/PL= r/w r: interest rate; w: wage rate
Nation 2 is capital abundant if PK2/PL2 < PK1/PL1
or
r2/w2 < r1/w1
5.3.3 Factor abundance and the shape of the
production frontier
In 1919, Heckscher published “The Effect of Foreign Trade on the Distribution of Income”
In 1933 Ohlin published International Trade” “Interregional and