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Published in:
1989 | OriginalPaper | Chapter
A Labour-Based Theory of International Trade
Author : Patrick Minford
Published in: Causes of Changes in the Structure of International Trade, 1960–85
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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There is a reigning paradigm in international trade: the H—O—S theory of relative factor endowments. There are also a number of special theories: for example, the product-cycle of Vernon (1966) and the IIT model of Grubel (1970), but these do not aspire to explain international trade patterns in general, merely a part of them. This chapter will not concern itself with these.