Economics - Comparative Advantage

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Word Count: 1,878 Critical Thinking-Module 03- Mohammed Al-Ghamdi - G200001237 - CRN 13936.docx

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Running head: THE THEORY OF FACTOR ENDOWMENT 1

THE THEORY OF FACTOR ENDOWMENT 2

Factor Endowment Theory Mohammed Ali Hussien Al-Ghamdi

Steudent ID: G200001237

Saudi Electronic University

Course: ECN-500

CRN: 13936

Date: 26 September 2020

Factor Endowment Theory Factor Endowment Theory is considered as a significant trade feature that can be used by nations to determine how rich they are likely to be wealthy based on the various resources the nation has. Based on the economic perspective, the distribution opinions, particularly labor to capital distribution, has different ratios within different countries (Ragland et al., 2015). According to Ragland, argued that those nations whose prerequisite components of manufacturing certain products and services mostly have much ratio gains compared to those nations who lack such resources. He gave some examples such as Saudi Arabia, which have oil resources and tend to have a comparative advantage than those without oil resources. Factor Endowment Theory has various benefits to the nations. Some of the benefits are that the theory is an essential factor in determining the comparative advantage in the country. Factor Endowment Theory helps the national government to determine the possibility of having a comparative advantage when it uses the resources that are much endowed in the nation, and the Factor Endowment Theory is also helpful during the evaluation of the nation comparative advantage using the ratio obtained from the theory. Comparing the USA and KSA about the Factor Endowment Theory simplified by the state of the British economic scholar accepts that some differences exist in the productivity of the nations. There are no particular products and commodities that the nation should export and import. Comparing the relation to Factor Endowment Theory between USA and KSA, the paper will discuss some of the issues such as the effect of the theory on the competitive advantage between the two nations, application of the theory together with some issues and insights experienced in the trade, among other important questions. Impact of Resource Endowments on Comparative Advantage

A nation is believed to have a comparative advantage in producing its goods if its opportunity cost for producing a particular product or service is less than

any other product it could have created with the given resources. A nation with comparative advantage is considered to make a worthy trade-off. The

difference in value between the prices of an actual product using given resources minus the highest price that can be attained using similar resources is called the opportunity cost. The factor endowment model suggests that a country only exports products that abundant and those that require less and cheap

i d ti h it i t d t th t d d d l bl i d ti (L 1989) C i th

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9/26/2020 Originality Report

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resources in production, whereas it imports products that are scarce and need more and valuable resources in production (Looney, 1989). Comparing the

Saudi Arabia Kingdom (KSA) to the United States of America (USA), Saudi Arabia has a comparative advantage in producing oil while the United States' comparative advantage is in corn and other agricultural products. This means that KSA uses fewer resources to produce a barrel of oil, and the U.S. also

uses less to produce one bushel of corn. The factor endowment impacts a country's comparative advantage directly, affecting the opportunity cost of

specialization in producing specific goods instead of others. KSA has a relative advantage in oil since its opportunity cost of concentrating on oil production

is lower than in other countries. Other factors, such as an abundance of land and capital, also affect the comparative advantage and may not be a constraint. However, physical obstacles such as less workforce and inflation rates have blocked KSA from reaching its full economic capacity. It hopes that massive industrial development in petrochemical products will open more significant opportunities in manufacturing. The presence of approximately 40 percent crude oil reservoirs globally is a resource endowment enough to support the venturing into the manufacturing industry of petrochemicals (Looney, 1989). It

exports oil in abundance and focuses all its resources on oil production. KSA labor force and skills are gradually growing, and the wages have risen due to

intensive capital procedures, which are steady relative to factor endowments. The competitiveness of the U.S and its comparative advantage on the international scale is quite debatable and mostly expressed concerning its place in low-cost production. U.S comparative advantage and international cost are affected by exchange rates and physical capital, as Dunmore (1986) says. Falling of the dollar increases its position in the global market while as the dollar rises, its position falls. The U.S has a comparative advantage in producing corn and wheat. The average production of the U.S in labor has increased over time by thirty-nine percent compared to other countries. Nonetheless, Dunmore (1986) also suggests that the U.S is not as competitive in agriculture as it was in the 1980s due to debts in the third world countries, foreign production, the rising value of the U.S.

dollar, overseas policies in agriculture. Factor-Endowment Theory as a Good Predictor of Trade Patterns The flow of a nation's exports and imports

illustrates the patterns of trade. Several national and international economies have grown through engaging in business. The factor endowment theory

demonstrates the various ratios of labor to capital. It also talks about changes in the prices of goods relative to wages and rents. Hecksher-Ohlin estimates trade equilibrium between countries that vary in trade specialization (Suranovic, 1997). The model also expounds on how a country should trade with imbalanced resources globally. The model predicts patterns of trade between nations. The price of a commodity from a capital-abundant country tends to be low in a labor-abundant country and vice versa. So, firms will shift to markets with higher rates, thereby increasing trade flows to the level of equilibrium. For Saudi Arabia, this model indicates it should venture into oil and gas industries more than other commodities due to its opportunity cost. The oil and gas

industries are more likely to succeed since they utilize both financial profits and raw materials. By the early 1970s, the expected Ohlin's pattern of trade

had not yet been experienced in KSA, and the pricing system could not predict the best areas of investment due to lack of experience in substantial industrial investments. Through the KSA's five year plan, there were desirable results such as increased labor force by reduced foreign labor, with an annual rate of 8%. The service industry and financial services had grown in terms of shares on total employment. The U.S agricultural industries are undergoing a moment of market adjustments whereby the foreign demand for import is low, prices of land are equally falling, and farmers are quitting the industry. The value of U.S agricultural exports has been declining since the 1980s by approximately 40 percent. Thus, comparative advantage is about a country's specialization and

trade patterns from an ingenious world. Comparative advantage defines prices and how they should be without distortion by policies which are quite the

opposite from the real world. The U.S is not free of policies as well; hence, the government amends prices as often as is required. This theory then predicts the U.S is an exporter of goods that are capital-intensive and an importer of labor-intensive products. What Additional Trade Theories Can Be Applied: Explain the Main Insights and Challenges. Different trade theories, such as the Absolute Trade Theory by Adam Smith that focuses on the capacity of a country to produce goods better than another country, can also apply in place of the factor endowment theory. For example, in this case, Saudi Arabia should specialize in oil production better than the United States, and the United States should also focus on the production of agricultural products more efficiently than Saudi Arabia. He argued that specialization of a specific commodity would develop more skilled labor and better production methods. However, the main challenge of the theory was that it reasoned that government policy shouldn't be used to regulate trade activities between countries. However, the idea cannot be applicable in the modern-day world. A country's trade ought to be governed by policies and restrictions for efficiency. Evaluate the Aims of Saudi Arabia Vision 2030 Relating to Factor Endowment Theory Saudi Arabia Vision 2030 key goal is a reduction in its oil dependence, to diversify the economy and find other industries it can specialize in, and improve public service, mostly in education, tourism, health, and infrastructure. It envisions strengthening its investment in different sectors other than oil. Also, it purposes to create trade exchanges between countries using consumer goods, directing the government's expenditure towards military ammunition through the manufacturing of missiles. The vision has three major pillars: describes the state as the centre of the Islamic world, envisions being the worldwide pillar of investment, and its determination in being the focal point of trade connecting Europe, Asia, and Africa (El Atouabi, 2014). The economic targets emphasized on the Vision 2030 remain to be purely commercial. Saudi Arabia's position continues to be the primary growth instrument in the United Arab Emirates region. By diversifying its economy, it will create a free trade zone. The vision seeks a quick execution of economic transformations

that could otherwise be achieved over a more extended period, affecting credibility and efficiency. This is so because the modifications cannot be made without altering the political status. However, the government is willing to broaden its scope in terms of communication and citizen engagement. KSA is already open to international trade due to its revenues from oil. The vision is then a platform for even higher chances, especially bridging the gap between Europe, Asia,

and Africa. The concept also aims at tackling unemployment of youth, who, according to Moshashai (2018), covers about seventy percent of the

population;

5 1

this means the labor force is set to grow. The non-oil industries are set to employ the local community using both direct and overseas investments.

Diversification of the economy will expand the manufacturing sector to higher heights, especially the military gear. Moshashai (2018) posits that Saudi imports approximately ninety-eight percent of its military paraphernalia. This means that if it starts manufacturing its own, the labor force will be the most impacted since it will employ more nationals.

References

Dunmore, J. C. (1986). Competitiveness and comparative advantage of U.S. agriculture (No. 791-2016-52215, pp. 21-34). El Atouabi, M. (2014).

Saudi Arabia's Vision 2030: The Road to a New Economic Paradigm in the Middle East?. Looney, R. E. (1989). Saudi Arabia's development strategy:

comparative advantage vs. sustainable growth. Naval Postgraduate School in Monterey, CA. Moshashai, D., Leber, A. M., & Savage, J. D. (2018). Saudi

Arabia devices for its economic future: Vision 2030, the National Transformation Plan, and Saudi fiscal reform. British Journal of Middle Eastern Studies, 1-21. Ragland, C. B., Widmier, S. M., & Brouthers, L. E. (2015). A factor endowment approach to international market selection. Journal of Strategic

Marketing, 23(6), 497-511. https://www.tandfonline.com/doi/abs/10.1080/0965254X.2014.1001860

Suranovic, S. (1997). International trade theory and policy analysis. Chapter-60:" The Heckscher-Ohlin (Factor Proportions) Model," The International

Economics Study Center, The George Washington University, Available URL: http://internationalecon. com/v1. 0/ch5/ch5. HTML Accessed on, 20, 13.

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9/26/2020 Originality Report

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Student paper 100%

Student paper 98%

Student paper 100%

universitypressscholarship 100%

Student paper 100%

Student paper 97%

Student paper 100%

Student paper 79%

Student paper

THE THEORY OF FACTOR ENDOWMENT 1

Original source

THE THEORY OF FACTOR ENDOWMENT 1

Student paper

THE THEORY OF FACTOR ENDOWMENT 2

Original source

Factor Endowment Theory 2

Student paper

Saudi Electronic University

Original source

Saudi Electronic University

Student paper

26 September 2020

Original source

26 September 2020

Student paper

Impact of Resource Endowments on Comparative Advantage

Original source

The Impact of Resource Endowments on Comparative Advantage

Student paper

A nation is believed to have a comparative advantage in producing its goods if its opportunity cost for producing a particular product or service is less than any other product it could have created with the given resources.

Original source

A country is believed to have a comparative advantage in producing its goods if its opportunity cost for producing a particular product or service is less than any other product it could have created with the given resources

Student paper

The difference in value between the prices of an actual product using given resources minus the highest price that can be attained using similar resources is called the opportunity cost. The factor endowment model suggests that a country only exports products that abundant and those that require less and cheap resources in production, whereas it imports products that are scarce and need more and valuable resources in production (Looney, 1989).

Original source

The difference in value between the prices of an actual product using given resources minus the highest price that can be attained using similar resources is called the opportunity cost The factor endowment model suggests that a country only exports products that abundant and those that require less and cheap resources in production whereas it imports products that are scarce and need more and valuable resources in production (Looney, 1989)

Student paper

Comparing the Saudi Arabia Kingdom (KSA) to the United States of America (USA), Saudi Arabia has a comparative advantage in producing oil while the United States'

Original source

Comparing the Saudi Arabia Kingdom (KSA) to the United States of America (USA), Saudi Arabia has a comparative advantage in producing oil while the United States’ comparative advantage is in corn production and other agricultural products

9/26/2020 Originality Report

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Student paper 70%

Student paper 94%

Student paper 100%

Student paper 98%

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Student paper

This means that KSA uses fewer resources to produce a barrel of oil, and the U.S.

Original source

This means that KSA uses fewer resources to produce a barrel of oil, and the US also uses less to produce one bushel of corn

Student paper

The factor endowment impacts a country's comparative advantage directly, affecting the opportunity cost of specialization in producing specific goods instead of others.

Original source

The factor endowment impacts a country’s comparative advantage directly, affecting the opportunity cost of specialization in the production of specific goods instead of others

Student paper

KSA has a relative advantage in oil since its opportunity cost of concentrating on oil production is lower than in other countries. Other factors, such as an abundance of land and capital, also affect the comparative advantage and may not be a constraint. However, physical obstacles such as less workforce and inflation rates have blocked KSA from reaching its full economic capacity. It hopes that massive industrial development in petrochemical products will open more significant opportunities in manufacturing.

Original source

KSA has a relative advantage in oil since its opportunity cost of concentrating on oil production is lower than in other countries Other factors such as an abundance of land and capital also affect the comparative advantage and may not be a constraint However, physical obstacles such as less workforce and inflation rates have blocked KSA from reaching its full economic capacity It hopes that massive industrial development in petrochemical products will open more significant opportunities in manufacturing

Student paper

The presence of approximately 40 percent crude oil reservoirs globally is a resource endowment enough to support the venturing into the manufacturing industry of petrochemicals (Looney, 1989).

Original source

The presence of approximately over 40 percent crude oil reservoirs globally, is a resource endowment enough to support the venturing into the manufacturing industry of petrochemicals (Looney, 1989)

Student paper

It exports oil in abundance and focuses all its resources on oil production.

Original source

It exports oil in abundance and focuses all its resources on oil production

Student paper

KSA labor force and skills are gradually growing, and the wages have risen due to intensive capital procedures, which are steady relative to factor endowments. The competitiveness of the U.S and its comparative advantage on the international scale is quite debatable and mostly expressed concerning its place in low-cost production. U.S comparative advantage and international cost are affected by exchange rates and physical capital, as Dunmore (1986) says. Falling of the dollar increases its position in the global market while as the dollar rises, its position falls.

Original source

KSA labor force and skills are gradually growing, and the wages have risen due to capital intensive procedures which are steady relative to factor endowments The competitiveness of the U.S and its comparative advantage in the international scale is quite debatable and mostly expressed concerning its place in low-cost production U.S comparative advantage and international cost are affected by exchange rates and physical capital, as Dunmore (1986) says Falling of the dollar increases its position in the global market while as the dollar rises, its position falls

9/26/2020 Originality Report

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Student paper 94%

Student paper 69%

Student paper 100%

Student paper

The U.S has a comparative advantage in producing corn and wheat. The average production of the U.S in labor has increased over time by thirty-nine percent compared to other countries. Nonetheless, Dunmore (1986) also suggests that the U.S is not as competitive in agriculture as it was in the 1980s due to debts in the third world countries, foreign production, the rising value of the U.S.

Original source

The U.S has a comparative advantage in producing corn and wheat The average production of the U.S in terms of labor has increased over time by thirty-nine percent compared other countries Nonetheless, Dunmore (1986) also suggests that the U.S is not as competitive in agriculture as it was in the 1980s due to debts in the third world countries, foreign production, the rising value of the US dollar, overseas policies in agriculture

Student paper

Factor-Endowment Theory as a Good Predictor of Trade Patterns The flow of a nation's exports and imports illustrates the patterns of trade.

Original source

The flow of a nation’s exports and imports illustrates the patterns of trade

Student paper

Several national and international economies have grown through engaging in business. The factor endowment theory demonstrates the various ratios of labor to capital. It also talks about changes in the prices of goods relative to wages and rents. Hecksher-Ohlin estimates trade equilibrium between countries that vary in trade specialization (Suranovic, 1997).

Original source

Several national and international economies have grown through engaging in business The factor endowment theory demonstrates the various ratios of labor to capital It also talks about changes in the prices of goods relative to wages and rents Hecksher-Ohlin estimates trade equilibrium between countries that vary in trade specialization (Suranovic, 1997)

Student paper

The model also expounds on how a country should trade with imbalanced resources globally. The model predicts patterns of trade between nations. The price of a commodity from a capital- abundant country tends to be low in a labor-abundant country and vice versa. So, firms will shift to markets with higher rates, thereby increasing trade flows to the level of equilibrium.

Original source

The model also expounds on how a country should trade with imbalanced resources globally The model predicts patterns of trade between nations The price of a commodity from a capital- abundant country tends to be low in a labor-abundant country and vice versa So, firms will shift to markets with higher rates, thereby increasing trade flows to the level of equilibrium

Student paper

For Saudi Arabia, this model indicates it should venture into oil and gas industries more than other commodities due to its opportunity cost.

Original source

For Saudi Arabia, this model indicates it should venture into oil and gas industries more than other commodities due to its opportunity cost

Student paper

The oil and gas industries are more likely to succeed since they utilize both financial profits and raw materials.

Original source

The oil and gas industries are more likely to succeed since they utilize both financial profits and raw materials

9/26/2020 Originality Report

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Student paper 100%

Student paper 99%

Student paper

By the early 1970s, the expected Ohlin's pattern of trade had not yet been experienced in KSA, and the pricing system could not predict the best areas of investment due to lack of experience in substantial industrial investments. Through the KSA's five year plan, there were desirable results such as increased labor force by reduced foreign labor, with an annual rate of 8%. The service industry and financial services had grown in terms of shares on total employment. The U.S agricultural industries are undergoing a moment of market adjustments whereby the foreign demand for import is low, prices of land are equally falling, and farmers are quitting the industry.

Original source

By the early 1970s, the expected Ohlin's pattern of trade had not yet been experienced in KSA, and the pricing system could not predict the best areas of investment due to lack of experience in substantial industrial investments Through the KSA’s five year plan, there were desirable results such as increased labor force by reduced foreign labor, with an annual rate of 8% The service industry and financial services had grown in terms of shares on total employment The U.S agricultural industries are undergoing a moment of market adjustments whereby the foreign demand for import is low, prices of land are equally falling, and farmers are quitting the industry

Student paper

The value of U.S agricultural exports has been declining since the 1980s by approximately 40 percent.

Original source

The value of U.S agricultural exports has been declining since the 1980s by approximately 40 percent

Student paper

Thus, comparative advantage is about a country's specialization and trade patterns from an ingenious world.

Original source

Thus, comparative advantage is about a country’s specialization and trade patterns from an ingenious world

Student paper

Comparative advantage defines prices and how they should be without distortion by policies which are quite the opposite from the real world. The U.S is not free of policies as well; hence, the government amends prices as often as is required. This theory then predicts the U.S is an exporter of goods that are capital-intensive and an importer of labor-intensive products.

Original source

Comparative advantage defines prices and how they should be without distortion by policies which are quite the opposite from the real world The U.S is not free of policies as well hence, the government amends prices as often as is required This theory then predicts the U.S is an exporter of goods that are capital-intensive and an importer of labor-intensive products

Student paper

What Additional Trade Theories Can Be Applied: Explain the Main Insights and Challenges. Different trade theories, such as the Absolute Trade Theory by Adam Smith that focuses on the capacity of a country to produce goods better than another country, can also apply in place of the factor endowment theory. For example, in this case, Saudi Arabia should specialize in oil production better than the United States, and the United States should also focus on the production of agricultural products more efficiently than Saudi Arabia.

Original source

What Additional Trade Theories Can Be Applied Explain the Main Insights and Challenges Additional trade theories such as the Absolute Trade Theory by Adam Smith that focuses on the capacity of a country to produce goods better than another country can also apply in place of the factor endowment theory For example, in this case, Saudi Arabia should specialize in oil production better than the United States and the United States should also focus on the production of agricultural products more efficiently than Saudi Arabia

9/26/2020 Originality Report

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Student paper 100%

Student paper 99%

Student paper 100%

Student paper 98%

Student paper

He argued that specialization of a specific commodity would develop more skilled labor and better production methods. However, the main challenge of the theory was that it reasoned that government policy shouldn't be used to regulate trade activities between countries. However, the idea cannot be applicable in the modern-day world. A country's trade ought to be governed by policies and restrictions for efficiency.

Original source

He argued that specialization of a specific commodity would develop more skilled labor and better production methods However, the main challenge of the theory was that it reasoned that government policy shouldn’t be used to regulate trade activities between countries However, the idea cannot be applicable in the modern-day world A country’s trade ought to be governed by policies and restrictions for efficiency

Student paper

Evaluate the Aims of Saudi Arabia Vision 2030 Relating to Factor Endowment Theory Saudi Arabia Vision 2030 key goal is a reduction in its oil dependence, to diversify the economy and find other industries it can specialize in, and improve public service, mostly in education, tourism, health, and infrastructure. It envisions strengthening its investment in different sectors other than oil. Also, it purposes to create trade exchanges between countries using consumer goods, directing the government's expenditure towards military ammunition through the manufacturing of missiles. The vision has three major pillars:

Original source

Evaluate the Aims of Saudi Arabia Vision 2030 Relating to Factor Endowment Theory Saudi Arabia Vision 2030 key goal is a reduction in its oil’s dependence, to diversify the economy and find other industries it can specialize in, and improve public service mostly in education, tourism, health, and infrastructure It envisions strengthening its investment in different sectors other than oil Besides, it also purposes to create trade exchanges between countries using consumer goods, directing the government’s expenditure towards military ammunition through the manufacturing of missiles The vision has three major pillars

Student paper

describes the state as the centre of the Islamic world, envisions being the worldwide pillar of investment, and its determination in being the focal point of trade connecting Europe, Asia, and Africa (El Atouabi, 2014). The economic targets emphasized on the Vision 2030 remain to be purely commercial. Saudi Arabia's position continues to be the primary growth instrument in the United Arab Emirates region.

Original source

describes the state as the center of the Islamic world, envisions being the worldwide pillar of investment, and its determination in being the focal point of trade connecting Europe, Asia and Africa (El Atouabi, 2014) The economic targets emphasized on the Vision 2030 remain to be purely commercial Saudi Arabia’s position continues to be the primary growth instrument in the United Arab Emirates region

Student paper

By diversifying its economy, it will create a free trade zone.

Original source

By diversifying its economy, it will create a free trade zone

Student paper

The vision seeks a quick execution of economic transformations that could otherwise be achieved over a more extended period, affecting credibility and efficiency. This is so because the modifications cannot be made without altering the political status. However, the government is willing to broaden its scope in terms of communication and citizen engagement. KSA is already open to international trade due to its revenues from oil.

Original source

The vision, seeks a quick execution of economic transformations that could otherwise be achieved over a more extended period, could affect the credibility and efficiency This is so because the modifications cannot be made without altering the political status However, the government is willing to broaden its scope in terms of communication and citizen engagement KSA is already open to international trade due to its revenues from oil

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Student paper 100%

Student paper 63%

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Student paper

The vision is then a platform for even higher chances, especially bridging the gap between Europe, Asia, and Africa.

Original source

The vision is then a platform for even higher chances, especially with bridging the gap between Europe, Asia, and Africa

Student paper

The concept also aims at tackling unemployment of youth, who, according to Moshashai (2018), covers about seventy percent of the population; this means the labor force is set to grow. The non-oil industries are set to employ the local community using both direct and overseas investments. Diversification of the economy will expand the manufacturing sector to higher heights, especially the military gear.

Original source

The concept also aims at tackling unemployment of youth, who, according to Moshashai (2018), covers about seventy percent of the population this means the labor force is set to grow The non-oil industries are set to employ the local community using both direct and overseas investments Diversification of the economy will expand the manufacturing sector to higher heights, especially the military gear

Student paper

Moshashai (2018) posits that Saudi imports approximately ninety-eight percent of its military paraphernalia. This means that if it starts manufacturing its own, the labor force will be the most impacted since it will employ more nationals.

Original source

Moshashai (2018) posits that Saudi imports approximately ninety-eight percent of its military paraphernalia This means that if it starts manufacturing its own, the labor force will be the most impacted since it will employ more nationals

Student paper

Competitiveness and comparative advantage of U.S.

Original source

Competitiveness and comparative advantage of US agriculture (No

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791-2016-52215, pp.

Original source

791-2016-52215, pp

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El Atouabi, M.

Original source

El Atouabi, M

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Saudi Arabia's Vision 2030: The Road to a New Economic Paradigm in the Middle East?.

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Saudi Arabia’s Vision 2030 The Road to a New Economic Paradigm in the Middle East

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Saudi Arabia's development strategy: comparative advantage vs.

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Saudi Arabia's development strategy comparative advantage vs

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Naval Postgraduate School in Monterey, CA. Moshashai, D., Leber, A. M., & Savage, J.

Original source

Naval Postgraduate School in Monterey, CA Moshashai, D., Leber, A M., & Savage, J

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Saudi Arabia devices for its economic future: Vision 2030, the National Transformation Plan, and Saudi fiscal reform. British Journal of Middle Eastern Studies, 1-21.

Original source

Saudi Arabia devices for its economic future Vision 2030, the National Transformation Plan, and Saudi fiscal reform British Journal of Middle Eastern Studies, 1-21

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B., Widmier, S. M., & Brouthers, L.

Original source

B., Widmier, S M., & Brouthers, L

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A factor endowment approach to international market selection. Journal of Strategic Marketing, 23(6), 497-511. https://www.tandfonline.com/doi/abs/1 0.1080/0965254X.2014.1001860

Original source

A factor endowment approach to international market selection Journal of Strategic Marketing, 23(6), 497-511 https://www.tandfonline.com/doi/abs/1 0.1080/0965254X.2014.1001860

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International trade theory and policy analysis. Chapter-60:" The Heckscher- Ohlin (Factor Proportions) Model," The International Economics Study Center, The George Washington University, Available URL:

Original source

International trade theory and policy analysis Chapter-60:" The Heckscher- Ohlin (Factor Proportions) Model," The International Economics Study Center, The George Washington University, Available URL

Student paper

0/ch5/ch5. HTML Accessed on, 20, 13.

Original source

0/ch5/ch5 HTML Accessed on, 20, 13