《国际经济学》讲义答案.docx
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《国际经济学》讲义答案
CHAPTER4
ResourcesandTrade:
TheHeckscher-OhlinModel
(FactorEndowmentTheory)
*Comparativeadvantageisinfluencebytheinteractionbetweenrelativeabundanceandrelativeintensity.
*Relativeabundance:
theproportionsofdifferentfactorsofproductionareavailableindifferentcountries.
If(T/L)H<(T/L)F,Homeislabor-abundantandForeignisland-abundant
“percaptia”,“relative”,nocountryisabundantineverything.
*Relativeintensity:
theproportionsofdifferentfactorsofproductionareusedinproductingdifferentgoods.
Atanygivenfactorprices,if(TC/LC)<(TF/LF),productionofClothislabor-intensiveandproductionofFoodisland-intensive.Agoodcan’tbebothlabor-intensiveandland-intensive.
(Factor-proportionstheory)
§1.AModelofTwo-FactorEconomy
1.Assumptionofthemodel
Thesametwofactorsareusedinbothsectors:
T、L;Cloth、Food.
(1)Alternativeinputcombinations:
Ineachsector,theratiooflandtolaborusedinproductiondependsonthecostoflaborrelativetothecostofland,w/r.
Figure4A-2
w/r↑T↑L↓T/L↑(TC/LC↑andTF/LF↑)
(2)Relativeintensity
Atanygivenwage-rentalratio,foodproductionuseahigherland-laborratio,foodproductionisland-intensiveandclothproductionislabor-intensive.
Figure4-2
2.Factorpriceandgoodsprices
(1)One-to-onerelationship
Becauseclothproductionislabor-intensivewhilefoodproductionisland-intensive.TheonedollarworthisoquantlineofclothandfoodareshownasFigure4-3-1.ThetwoisoquantsCCandFFaretangenttothesameunitisocostline.
Figure4-3-1
WhenPCrises,theslopeoftheunitisocostlinew/rrises,thatis,thereisone-to-onerelationshipbetweenfactorpriceratiow/randtherelativepriceofclothPC/PF(Figure4-3-2).TherelationshipisillustratedbythecurveSS.
(Supposetheeconomyproducebothclothandfood).
Figure4-3-2
Figure4-3-3
(2)Stolper-Sammelsoneffect
Iftherelativepriceofagoodrises,therealincomeofthefactorwhichintensivlyusedinthatgoodwillrise,whiletherealincomeoftheotherfactorwillfall.
PC/PF↑w/r↑TC/LC↑,TF/LF↑
MPLC↑,MPLF↑W/PC↑,W/PF↑
Figure4-4
3.Resourcesandoutput
(1)Relativeprice、resourcesandproduction
Giventhepricesofclothandfoodandthesupplyoflandandlabor,itispossibletodeterminehowmuchofeachresourcetheeconomydevotedtotheproductionofeachgood;andthusalsotodeterminetheeconomy’soutputofeachgood.
Figure4-5.
TheslopeofOcCisTc/Lc,theslopeofOFFisTF/LF
(2)Rybczynskieffect
Ifgoodspricesremainunchanged,anincreaseinthesupplyoflandwillrisetheoutputoffoodmorethanproportiontothisincrease,whiletheoutputofclothwillfall.
Figure4-6
T↑TF↑LF↑;TC↓LC↓QF↑QC↓
Rybczynskieffect:
Atunchangedrelativegoodsprice,ifthesupplyofafactorofproductionincreases,theoutputofthegoodthatareintensiveinthatfactorwillrise,whiletheoutputoftheothergoodwillfall.
Figure4-7
·Theeconomycouldproducemoreofbothclothandfoodthanbefore.
·Abiasedexpansionofproductionpossibilities.
·Aneconomywilltendtoberelativelyeffectiveatproducinggoodsthatareintensiveinthatfactorswithwhichthecountryisrelativewell-endowed.
§2.EffectsofInternationalTradeBetweenTwo-FactorEconomies
1.Resources、relativepricesandthepatternoftrade
Asalways,HomeandForeignaresimilaralongmanydimentions,suchasrelativedemandandtechnology.Theonlydifferencebetweenthecountriesistheirresources:
HomehasalowerratiooflandtolaborthanForeigndoes.
·
relativeabundancerelativesupplyrelativeprices
trade
(T/L)H<(T/L)F(TC/LC)<(TF/LF)RSliestotherightofRS*,
(PC/PF)H<(PC/PF)FHometradeClothforFood,
ForeigntradeFoodforCloth.
·H-Oproposition:
Countriestendtoexportgoodswhoseproductionisintensiveinfactorswithwhichtheyareabundantlyendowed.
Figure4-8
2.Tradeandthedistributionofincome
·AccordingtoStolper-Samuelsoneffect,ariseinthepriceofclothraisesthepurchasingpoweroflabourintermsofbothgoods,whileloweringthepurchasingpoweroflandintermsofbothgoods.Thus,inHome,laborersaremadebetteroffwhilelandownersaremadeworseoff.
·Ownersofacountry’sabundantfactorsgainfromtrade,butownersofacountry’sscarefactorslose.
·Thedistinctionbetweenincomedistributioneffectsduetoimmobilityandthoseduetodifferencesinfactorintensity.
Thespecificfactormodel:
Sectors;temporaryandtransitionalproblem
TheH-Omodel:
Factors;permanentproblem
·Resourcesandtrade(factorendowmenttheory)
Short-runanalysis:
Thespecificfactormodel
Long-runanalysis:
H-Omodel
3.Factorpriceequalization
·Factorpriceequalizationproposition:
Internationaltradeproducesaconvergenceofrelativegoodsprices.Thisconvergence,inturns,causestheconvergenceoftherelativefactorprices.Tradeleadstocompleteequalizationoffactorprices.(Figure4-8,4-4orFigure4A-3)
Figure4A-3
·One-dollar-worthisoquantlines.
·Goods’priceandtechnologiesarethesame,soCC、FFarethesameinbothcountries.
·w/rarethesameinbothcountries.
·Inanindirectwaythetwocountriesareineffecttradingfactorsofproduction.
(Homeexportslabor:
morelaborisembodiedinHome’sexportsthanitsimports;Foreignexportsland:
morelandisembodiedinForeign’sexportsthanitsimports.)
·Intherealworldfactorpricesarenotequalized(Table4-1).Why?
Table4-1ComparativelnternationalWageRates(UnitedStates=100)
Hourlycompensation
Countryofproductionworkers,2000
UnitedStates
100
Germany
121
Japan
111
Spain
55
SouthKorea
41
Portugal
24
Mexico
12
SriLanka*
2
*1969.Source:
BureauofLaborStatistics,ForeignLaborStaisticsHomePage.
Threeassumptionscrucialtothepredictionoffactorpriceequalizationareinrealitycertainlyuntrue.
(1)Bothcountriesproducebothgoods.(Tradingcountriesaresufficientlysimilarintheirrelativefactorendowments)
(2)Technologiesarethesame.(Tradeactuallyequalizesthepricesofgoodsintwocountries).
(3)Therearebarrierstotrade:
naturalbarriers(suchastransportationcosts)andartificialbarriers(suchastariffs,importquotas,andotherrestrictions).
Casestudy:
North-southtradeandincomeinequality
·WhyhaswageinequalityinU.S.increasedbetweenthelate1970sandtheearly1990s?
(1)ManyobserversattributethechangetothegrowthofworldtradeandinparticulartothegrowingexportsofmanufacturedgoodsfromNIEs.
Table4-2CompositionofDeveloping-CountryExports(PercentofTotal)
AgriculturalMiningManufactured
ProductsProductsGoods
1973
30
47.5
22
1995
14
22.5
62.5
Source:
WorldTradeOrganization
(2)Mostempiricalworkersbelievedthattradehasbeenatmostacontributingfactortothegrowinginequalityandthatthemainvillainistechnology.
§3.EmpiricalEvidenceontheH-OModel
1.TestsonU.Sdata
Table4-3FactorContentofU.S.Exportsandlmportsfor1962
ImportsExports
Capitalpermilliondollars
$2,132,000
$1,876,000
Labor(person-years)permilliondollars
119
131
Capital-laborratio(dollarsperworker)
$17,916
$14,321
Averageyearsofeducationperworker
9.9
10.1
Proportionofengineersandscientistsinworkforce
0.0189
0.0255
Source:
RodertBaldwin,“DeterminantsoftheCommodityStructureofU.S.Trade,”AmericanEcomomicReview61(March1971),pp.1
·Leontiefparadox:
U.S.exportswerelesscapital-intensivethanU.S.imports.(Capital-laborratio)
·U.S.exportsweremoreskilledlabor-intensiveandtechnology-intensivethanitsimports.(Averageyearsofeducation;scientistsandengineersperunitofsales)
·Aplausibleexplanation:
U.S.maybeexportinggoodsthatheavilyuseskilledlaborandinnovativeentrepreneurship(suchasaircraftandcomputerchips),whileimportingheavymanufacturesthatuselargeamountsofcapital(suchasautomobiles).
2.Testsonglobaldata
Table4-4TestingtheHeckscher-OhlinModel
FactorofProductionPredictiveSuccess*
Capital
0.52
Labor
0.67
Professionalworkers
0.78
Managerialworkers
0.22
Clericalworkers
0.59
Salesworkers
0.67
Serviceworkers
0.67
Agriculturalworkers
0.63
Productionworkers
0.70
Arableland
0.70
Pastureland
0.52
Forest
0.70
*Fractionofcountriesforwhichnetexportsoffactorrunsinpredicteddirection.
Source:
HarryP.Bowen,EdwardE.Leamer,andLeoSveikauskas,“Multicountry,MultifactorTestsoftheFactorAbundanceTheory,”AmericanEconomicReview77(December1987),pp.791-809.
·Ifthefactor-proportiontheorywasright,acountrywouldalwaysexportfactorsforwhichthefactorshareexceededtheincomeshare,importfactorsforwhichitwasless.
·Two-thirdsofthefactorsweretradinginthepredicteddirectionlessthan70percentsofthetime.ThisresultconfirmstheLeontiefparadoxonabroaderlevel:
Tradeoftendoesn’truninthedirectionthattheH-Otheorypredicts.
3.TestonNorth-Southtrade
North-SouthtradeinmanufacturesseemstofittheH-Otheorymuchbetter.
Table4-5TradeBetweentheUnitedStatesandSouthKorea,1992
(milliondollars)
U.S.ExportstoU.S.Importsfrom
TypeofProductSouthKoreaSouthKorea
Chemicals,plastics,pharmaceuticals
1340
105
Power-generatingequipment
705
93
Professionalandscientificinstruments
512
96
Transportequipmentotherthanroad
Vehicles(mainlyaircraft)
1531
78
Clothingandshoes
11
4203
Source:
StatisticalAbstractoftheUnitedStates,1994.
4.Thecaseofthemissingtrade
·Apreviouslyoverlookedempiricalproblems:
TheH-Omodelcanpredictnotonlythedirectionbutthevolumeoftrade.
·Factortradeingeneralturnsouttobemu
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