Property rights, mobile capital, and comparative advantage

• 成果类型: Article
• 署名作者: Karp, L
• 署名单位: University of California System; University of California Berkeley
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2004.05.004
• 发表日期: 2005
• 页码: 367-387
• 关键词: imperfect property rights; comparative advantage; general equilibrium

摘要

Recent papers show that imperfect property rights to a natural resource - a sector-specific factor - can be a source of comparative advantage. In these models, weaker property rights attract labor - the only mobile factor - to the resource sector, increasing the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration of property rights has ambiguous effects on comparative advantage and on the equilibrium wage/rental ratio. (c) 2005 Elsevier B.V. All rights reserved.