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An Elementary Theory of Comparative Advantage

Author(s)
Costinot, Arnaud
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Abstract
Comparative advantage, whether driven by technology or factor endowment, is at the core of neoclassical trade theory. Using tools from the mathematics of complementarity, this paper offers a simple yet unifying perspective on the fundamental forces that shape comparative advantage. The main results characterize sufficient conditions on factor productivity and factor supply to predict patterns of international specialization in a multifactor generalization of the Ricardian model which we refer to as an “elementary neoclassical economy.” These conditions, which hold for an arbitrarily large number of countries, goods, and factors, generalize and extend many results from the previous trade literature. They also offer new insights about the joint effects of technology and factor endowments on international specialization.
Date issued
2009-07
URI
http://hdl.handle.net/1721.1/51725
Department
Massachusetts Institute of Technology. Department of Economics
Journal
Econometrica : journal of the Econometric Society
Publisher
Econometric Society
Citation
Costinot, Arnaud. “An Elementary Theory of Comparative Advantage.” Econometrica 77.4 (2009): 1165-1192. (C)2009 The Econometric Society.
Version: Final published version
ISSN
0012-9682

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