Heckscher-Ohlin theorem
Heckscher-Ohlin theorem: states that countries will export those goods whose production is relatively intensive in the factors with which they are well endowed. The basic assumption underlying the theorem is that demand patterns do not differ much between countries. The theorem was first formulated by Eli Filip Heckscher in 1919 and publicized by Bertil Gotthard Ohlin in 1933, both eminent Swedish economists. It has been refined considerably over the years as a result of a patient statistical analysis. Essentially, the theorem is a restatement of the theory of comparative advantage. See also new trade theory and Stolper-Samuelson theorem.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
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Author of the text: W. Goode
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