THE HECKSCHER-OHLIN MODEL IN THEORY AND PRACTICE
[Pages:60]PRINCETON STUDIES IN INTERNATIONAL FINANCE No. 77, February 1995
THE HECKSCHER-OHLIN MODEL IN THEORY AND PRACTICE
EDWARD E. LEAMER
INTERNATIONAL FINANCE SECTION
DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY
PRINCETON, NEW JERSEY
PRINCETON STUDIES IN INTERNATIONAL FINANCE
PRINCETON STUDIES IN INTERNATIONAL FINANCE are published by the International Finance Section of the Department of Economics of Princeton University. Although the Section sponsors the Studies, the authors are free to develop their topics as they wish. The Section welcomes the submission of manuscripts for publication in this and its other series. Please see the Notice to Contributors at the back of this Study.
The author of this Study, Edward E. Leamer, is Professor of Economics and Chauncey J. Medberry Professor of Management at the John E. Anderson Graduate School of Management at the University of California, Los Angeles. He is a Fellow of the American Academy of Arts and Sciences and of the Econometric Society and is a Research Associate of the National Bureau of Economic Research. Professor Leamer has published several books and numerous articles in the fields of econometrics and international economics. His most recent book is Sturdy Econometrics: Selected Essays of Edward E. Leamer (1994). This Study was presented as the Frank D. Graham Memorial Lecture on March 3, 1994. A complete list of Graham Memorial Lecturers is given at the end of this volume.
PETER B. KENEN, Director International Finance Section
PRINCETON STUDIES IN INTERNATIONAL FINANCE No. 77, February 1995
THE HECKSCHER-OHLIN MODEL IN THEORY AND PRACTICE
EDWARD E. LEAMER
INTERNATIONAL FINANCE SECTION
DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY
PRINCETON, NEW JERSEY
INTERNATIONAL FINANCE SECTION EDITORIAL STAFF
Peter B. Kenen, Director Margaret B. Riccardi, Editor Lillian Spais, Editorial Aide Lalitha H. Chandra, Subscriptions and Orders
Library of Congress Cataloging-in-Publication Data
Leamer, Edward E.
The Heckscher-Ohlin Model in theory and practice / Edward E. Leamer.
p. cm. -- (Princeton studies in international finance, ISSN 0081-8070 ; no. 77)
Includes bibliographical references.
ISBN 0-88165-249-0 (pbk.) : $11.00
1. Heckscher-Ohlin principle. 2. Comparative advantage (International trade). I.
Title. II. Series.
HF1411.L423 1995
382--dc20
94-49591
CIP
Copyright ? 1995 by International Finance Section, Department of Economics, Princeton University.
All rights reserved. Except for brief quotations embodied in critical articles and reviews, no part of this publication may be reproduced in any form or by any means, including photocopy, without written permission from the publisher.
Printed in the United States of America by Princeton University Printing Services at Princeton, New Jersey
International Standard Serial Number: 0081-8070 International Standard Book Number: 0-88165-249-0 Library of Congress Catalog Card Number: 94-49591
CONTENTS
1 INTRODUCTION
1
2 THE LERNER-PEARCE DIAGRAM IN ACTION
5
The Factor-Price-Equalization Theorems
5
Applications of the Learner-Pearce Diagram
8
3 ALGEBRA OF THE (EVEN) HECKSCHER-OHLIN-VANEK MODEL
17
Neutral Technological Differences and Home Bias
19
4 LEAMER TRIANGLES
22
Effects on the United States of Physical-Capital
Accumulation in Japan
24
Effects on the United States of Capital Accumulation
in Germany
25
5 EVIDENCE
26
Patterns of Four Countries
26
Patterns over Time
33
Trade Patterns and Resource Supplies
36
6 THE HECKSCHER-OHLIN MODEL AND INCOME INEQUALITY
39
Three Mistaken Notions
41
REFERENCES
44
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