Globalisation and factor returns in competitive markets

• 成果类型: Article
• 署名作者: Falvey, R; Kreickemeier, U
• 署名单位: University of Nottingham
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2004.04.004
• 发表日期: 2005
• 页码: 233-248
• 关键词: factor mobility; factor real returns; Nontraded goods

摘要

The standard competitive trade model, extended to include many goods and factors, is used to analyze the effect of goods and factor market integration on average international disparities in the real returns of internationally immobile factors. It is shown that goods market integration decreases international real return differentials for all factors. We derive sufficient conditions for this result to hold for the subgroup of internationally immobile factors as well. While there is a presumption for similar results to hold with international factor market integration, we show that this is true for international migration but in general not for international investment. (c) 2004 Elsevier B.V All rights reserved.