Abstract:
In this study we analyze medium- and long-term effects of capital market international integration on production specialization in the world economy. We integrate the concept of induced technical change into the Heckscher-Ohlin model with continuum of final goods. As a result we get a complex theory that refers to a dynamic competitive advantages based on the difference in effective factor endowment between countries. Our model allows to explain the change in production specialization of Central and East European countries (CEECs) in the last two decades and to support transition countries to determine foreground production sectors.
Здесь вставить шорт-код (стрелочка вниз на панели инструментов) с адресом файла