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国际贸易理论之Theory of Comparative Advantage(比较优势理论)
Theory of comparative advantage is well-known as the most basic theory of international trade. Many of us call it “221” Theory (i.e two countries, two goods and one factor), which slightly implies that it isn’t a power theory now. With that thought in mind, we may think it has been out of age or doesn’t play important role in reality while each country exports and imports everything. Do you have comparative advantage in such a good’s production? Who can tell?
But the Theory does have its powerful validity in general and can easily explain the trade pattern, the gains from trade and can be used to test the benefit of Trade. That is the purpose we are sharing these papers about Comparative Advantage.
In the following month, I’m going to share four, six (to be accurate) papers with you and may share some econometric approaches if possible. Today my target is to make an outline about that.
The first paper:
《The General Validity of the Law of Comparative Advantage》
authored by Alan V.deardorff.
The most blazing point of this paper is that he proposed several assumptions from microeconomics perspectives and provided a powerful but operable approach to demonstrate the validity of our theory.
The second and third papers:
《An Empirical Assessment of the Comparative Advantage Gains from Trade: Evidence from Japan》
both written by Daniel M.bernhofen & John C.Brown
Based on the first paper, they use the natural experiment of Japan’s opening up to the world market in 1860s to test the theory of comparative advantage separately from two perspectives, the validity of the theory and the magnitude of the gains from trade.
What I admire these two papers most is they overcome the obstacle of the availability of data and give reasonable results to answer the most question of international trade: is it right to participant in international trade and how much will it gain from trade.
The forth paper:
《Does Trade Cause Growth?》
authored by Jeffrey A.Frankel & David Romer.
To answer the question of gains from trade: F and D use instrument variable from geography to avoid reciprocal effect between trade and income and they give strong evidences that trade does improve income (i.e trade causes growth). The instrument variable approach and the sight to construct one are of most importance in our sharing.
The last two papers are somewhat likely to the above ones, so we will introduce their brilliant ideas and trick methods during the sharing.
在接下来的时间里，我们将通过分析论文的方式依照时间顺序逐一专题地向大家分享国际贸易的有关理论以及其最新的应用，同时穿插一些计量方法和数据库使用的介绍，希望大家支持！
—责编：陈雨珩 —
—推送：高博韬 —
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