New trade theory
New trade theory: an approach to the analysis of international trade that had its origin in the "Leontief Paradox". In 1953 the American economist Wassily Leontief found in his analysis of input-output statistics that the United States, a capital-rich country, exported labour-intensive products more successfully than capital-intensive products. This was contrary to what he had expected under the Heckscher-Ohlin theorem which is a restatement of the theory of comparative advantage. Attempts by economists to explain this eventually led to the new trade theory which takes into account also the influence of factors such as technology and research and development. These factors can allow a country to acquire a comparative advantage where before it had none. An important medium- term result was the product cycle theory which appeared in 1967. The final stage was the strategic trade theory of which there are differing interpretations. The theory certainly has been used to defend targeting and picking winners. That does not appear generally to be the aim of economists supporting it. See also competitive advantage.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
If you are the author of the text above and you not agree to share your knowledge for teaching, research, scholarship (for fair use as indicated in the United States copyrigh low) please send us an e-mail and we will remove your text quickly. Fair use is a limitation and exception to the exclusive right granted by copyright law to the author of a creative work. In United States copyright law, fair use is a doctrine that permits limited use of copyrighted material without acquiring permission from the rights holders. Examples of fair use include commentary, search engines, criticism, news reporting, research, teaching, library archiving and scholarship. It provides for the legal, unlicensed citation or incorporation of copyrighted material in another author's work under a four-factor balancing test. (source: http://en.wikipedia.org/wiki/Fair_use)
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
The following texts are the property of their respective authors and we thank them for giving us the opportunity to share for free to students, teachers and users of the Web their texts will used only for illustrative educational and scientific purposes only.
All the information in our site are given for nonprofit educational purposes
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
www.riassuntini.com