Can comparative advantage explain the growth of US trade?

• 成果类型: Article
• 署名作者: Cunat, Alejandro; Maffezzoli, Marco
• 署名单位: University of Essex; Centre for Economic Policy Research - UK; Bocconi University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2007.02042.x
• 发表日期: 2007
• 页码: 583-602
• 关键词: INTERNATIONAL-TRADE; factor proportions; specialization

摘要

We present a dynamic comparative advantage model in which moderate reductions in import tariffs can generate sizable increases in trade volumes over time. A fall in tariffs has two effects. First, for given factor endowments, it raises the degree of specialisation, leading to a larger volume of trade in the short run. Second, it raises the factor price of each country's abundant factor, leading to diverging paths of relative factor endowments and a rising degree of specialisation. A simulation exercise shows that a fall in tariffs produces a disproportional increase in the trade share of output as in the data.