Heckscher–Ohlin model
General equilibrium model of international trade by E. Heckscher and B. Ohlin, based on Ricardo's theory of comparative advantage
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Heckscher–Ohlin model
General equilibrium model of international trade by E. Heckscher and B. Ohlin, based on Ricardo's theory of comparative advantage
The Heckscher–Ohlin model (/hɛkʃr ʊˈliːn/, H–O model) is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the resources of a trading region.
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From Wikipedia
The Heckscher–Ohlin model (/hɛkʃr ʊˈliːn/, H–O model) is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the resources of a trading region. The model essentially says that countries export the products which use their relatively abundant and cheap factors of production, and import the products which use the countries' relatively scarce factors.
Text: Wikipédia, CC BY-SA 4.0. · Image: WissensDürster (CC BY-SA 4.0) ·
