In this paper we will focus upon the role of absolute advantages in international special-ization in connection with the phenomenon of capital mobility. We will provide a his-torical and analytical reconstruction of the main contributions, starting from the contrast between Smith’s and Ricardo’s standpoint on the issue. Two deep-rooted conclusions will be questioned by the analysis of this literature: (a) the unequivocal mutual benefits of opening up to international trade; and (b) the specialization of each country in the production of at least one good. With regard to this point, we will also provide a gener-alization of a result obtained by Parrinello (2010).
Bellino, E., Fratini, S., Absolute Advantages and Capital Mobility in International Trade Theory, <<Absolute Advantages and Capital Mobility in International Trade Theory>>, 2019; 38 (Novembrer): 1-28 [http://hdl.handle.net/10807/161146]
Absolute Advantages and Capital Mobility in International Trade Theory
Bellino, Enrico
Primo
;
2019
Abstract
In this paper we will focus upon the role of absolute advantages in international special-ization in connection with the phenomenon of capital mobility. We will provide a his-torical and analytical reconstruction of the main contributions, starting from the contrast between Smith’s and Ricardo’s standpoint on the issue. Two deep-rooted conclusions will be questioned by the analysis of this literature: (a) the unequivocal mutual benefits of opening up to international trade; and (b) the specialization of each country in the production of at least one good. With regard to this point, we will also provide a gener-alization of a result obtained by Parrinello (2010).
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