《国际经济学》讲义答案.docx

《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