《國際貿(mào)易（第七版）》Chap008

TheBasisforTrade:FactorEndowmentsandtheHeckscher-OhlinModelChapter8LearningObjectivesExaminehowrelativefactorendowmentsaffectrelativefactorprices.Demonstratehowdifferentrelativefactorpricesgenerateabasisfortrade.Describehowtradeaffectsrelativefactorpricesandincomedistribution.Analyzehowreal-worldphenomenacanmodifyHeckscher-Ohlinconclusions.Heckscher-OhlinInGeneralHeckscher,andhisstudentOhlin,workedintheearlypartofthe20thcentury.PaulSamuelsonrefinedtheirworkafterWWII.Closerattentionispaidinthismodeltoeachcountry’sresourceendowment.H-O-SAssumptions2countries2commodities2factors(laborandcapital)Perfectcompetitionexistsinallmarkets.Eachcountry’sendowmentoffactorsisfixed.Factorsaremobileinternally,butimmobileinternationally.H-O-SAssumptions(cont’d)EachproducerhasawiderangeofoptionsastohowtoproduceXorYifKischeaprelativetolabor,arelativelycapital-intensivemethodwillbeadopted.ifKisexpensiverelativetolabor,arelativelylabor-intensivemethodwillbeadopted.EachcountryhasthesameCRTStechnology.Tastesandpreferencesarethesameforbothcountries.ConceptsandTerminologyThecapital-laborratioforgoodXissimplyKX/LX,andforYisKY/LY.IfKX/LX>KY/LY,productionofgoodXiscapitalintensiverelativetoproductionofgoodY.Forexample,theamountofcapitalperworkerintheU.S.petroleumandcoalindustryis$468,000.Thesimilarfigureforapparelproductsis$8,274.Therefore,petroleumandcoalisproducedinarelativelycapital-intensivemanner.ConceptsandTerminologyAlso,productionofYmustberelativelylaborintensive(IfKX/LX>KY/LY,thenLY/KY>LX/KX).Thatis,clothingisproducedinalabor-intensivemanner(ascomparedtopetroleumandcoal).RelativeFactorIntensities,SelectedCanadianIndustries(2006),inC$CommodityCapitalperemployeePetroleumandcoal$617,066Chemicals$144,029Paper$118,777Transportationequipment$92,315TruckTransportation$30,180Leatherandproducts$12,573Clothing$8,9548-8ConceptsandTerminologyCountryAissaidtobecapitalabundantrelativetoCountryBif(K/L)A>(K/L)B.Forexample,iftheU.S.hasacapitalstockof$4.8trillionandalaborforceof153million,thenK/Lisabout$32,000.K/LforMexicoworksoutto$328billion/45million=$7,282.Therefore,theU.S.isK-abundantrelativetoMexico;MexicoisrelativelyL-abundant.RelativeFactorEndowments,SelectedCountries(2007),inU.S.$CountryCapitalperworkerJapan$49,081France$31,810U.S.$31,657Australia$30,792Canada$24,700Mexico$7,2828-10ConceptsandTerminologyTosummarize:goodsareproducedrelativelyKorLintensively.countriesarerelativelyKorLabundant.ConceptsandTerminologyThefactorpriceoflabor(thewage)isdenotedw.Thefactorpriceofcapitalisdenotedr.Iflaborisrelativelyexpensive,w/rwillbearelativelybignumber.Iflaborisrelativelycheap,w/rwillbearelativelysmallnumber.MoreonFactorPricesWhatmakeslaborrelativelyexpensive?Ifitisrelativelyscarce.Whatmakeslaborrelativelycheap?Ifitisrelativelyabundant.So:If(K/L)Aisarelativelybignumber(thatis,capitalisrelativelyabundant),w/rwillbearelativelybignumber,reflectingtherelativescarcityofLandabundanceofK.AReviewofTradeintheNeoclassicalModelSupposetheU.S.iscapitalabundantrelativetoMexico.This,ofcourse,meansthatMexicoisrelativelylaborabundant.Thesedifferencesaffecttheshapeofeachcountry’sPPF.Supposethatcarsareproducedrel.K-intensively,andtextileslaborintensively.AutarkyinMexicoandtheU.S.TherelativepriceoftextilesinautarkyisgreaterintheU.S.thaninMexico.Thatis,theU.S.’sautarkypricelineissteeperthanMexico’s.Insymbols,(PT/PC)U.S.>(PT/PC)Mex.Thismeansthat

Mexicohasthecomparativeadvantageintextiles.AutarkyinMexicoandtheU.S.ThisalsomeansthattherelativepriceofcarsinautarkyislowerintheU.S.thaninMexico.Thatis,(PC/PT)U.S.<(PC/PT)Mex.Thismeansthat

theU.S.hasthecomparativeadvantageincars.TradeintheH-OModelMexicoU.S.CarsCarsTextilesTextilesX1Y1X6Y4EeX2Y2X5Y5e'E'C'c'X3Y3X4Y68-17TheResultTherelativelycapitalabundantcountry(U.S.)exportstherelativelycapitalintensivegood(cars).Therelativelylaborabundantcountry(Mexico)exportstherelativelylaborintensivegood(textiles).TheHeckscher-OhlinTheoremAcountrywillexportthecommoditythatusesrelativelyintensivelythefactorthatcountryhasinrelativeabundance.Acountrywillimportthecommoditythatusesrelativelyintensivelythefactorthatisrelativelyscarceinthatcountry.TheSourceofComparativeAdvantageSoitisacountry’srelativefactorendowmentthatdeterminesitscomparativeadvantage.ThisiswhytheH-O-Smodelisalsocalledthefactorproportionstheory.ChangesinRelativeCommodityPrices:ReviewAswelearnedbefore,(PT/PC)USfallsastheU.S.movestotrade.Thatis,theinternationalrelativetextilepriceislowerthantheU.S.’sautarkyprice.(PT/PC)MexrisesasMexicomovestotrade.Thatis,theinternationalrelativetextilepriceishigherthanMexico’sautarkyprice.ChangesinFactorPricesInautarky,theK-intensiveproduct(cars)islessexpensivetoproduceintheU.S.ascomparedtoMexico.ThisisbecauseKisrelativelyabundantintheU.S.,whichmakesthepriceofcapitalrelativelylow.Astradecommences,rwillrisesincedemandforcapitalwillrise.ChangesinFactorPricesInautarky,theL-intensiveproduct(textiles)ismoreexpensivetoproduceintheU.S.ascomparedtoMexico.ThisisbecauseLisrelativelyscarceintheU.S.,whichmakesthepriceoflaborrelativelyhigh.Astradecommences,wwillfallsincedemandforlaborwillfall.CommodityandFactorPricesInTrade:ASummaryInourexample,(PT/PC)USfallsastradecommences.(w/r)USalsofalls.InMexico,theoppositeishappening:(PT/PC)Mexrises.(w/r)Mexalsorises.Thereforerelativecommodityandfactorpricesmovetogetherastradecommences.TheRelativeCostCurvePT/PCw/r(w/r)Mex(PT/PC)Mex(w/r)US(PT/PC)USBothrelativecommodityandfactorpricesequalizeintrade.(PT/PC)Int(w/r)Int8-25TheFactorPriceEqualizationTheorem

Inequilibrium,withbothcountriesfacingthesamerelativeproductprices,relativecostswillbeequalized.Thiscanonlyhappenifrelativefactorpricesareequalizedbetweencountries.H-OandtheDistributionofIncomeTheH-Otheorem,togetherwiththeFPEtheorem,alsotellusabouthowtheincomesofdifferentgroupswithinacountrychangeastradestarts.Thisprovidesinsightintothepoliticsoffreetrade.TheStolper-SamuelsonTheorem

Astradecommences,theownersoftherelativelyabundantfactorwillfindtheirrealincomesrising;theownersoftherelativelyscarcefactorwillfindtheirrealincomesfalling.H-OandtheDistributionofIncomeAccordingtotheS-Stheorem,iftheU.S.isarelativelyK-abundantcountry,whoinAmericashouldfavorfreetrade?WhoinAmericashouldfavorprotectionism?TheoreticalQualificationstoH-OSupposewerelaxsomeofthemanyassumptions.WilltheimplicationsoftheH-O-Smodelstillbethesame?Qualification#1:DemandReversalSupposeweletdemandconditionsdiffer.Supposedomesticdemandforthegoodthatusesrelativelyintensivelytherelativelyabundantfactorisverystrongineachcountry.Thatis,supposedemandforcarsisverystrongintheU.S.,andthatdemandfortextilesisverystronginMexico.Qualification#1:DemandReversalSuchstrongdemandmakestheautarkycarpriceintheU.S.higher,andthetextilepriceinMexicohigher.Intheextreme,demandreversalcouldoccur:(PC/PT)US

>(PC/PT)Mex,and(PT/PC)US

<(PT/PC)Mex

BottomLineonDemandReversalsIfdemandreversalsoccur,theH-Otheoremnolongerholds:theK-abundantcountryisexportingtheL-intensivegood,andtheL-abundantcountryisexportingtheK-intensivegood.Qualification#2:FactorIntensityReversalImplicitly,we’veassumedthatifgoodXisK-intensiverelativetogoodYatonefactorpriceratio,itwillbeK-intensiveatallfactorprices.AFIRiswhenagoodisrelativelyK-intensiveatonesetoffactorprices,butrelativelylaborintensiveatanother.Qualification#2:FactorIntensityReversalFIRsoccurwhencapitalandlaborcanbesubstitutedmoreeasilyintheproductionofonegoodthananother.FactorIntensityReversal:ImplicationsforTradeSupposeFranceisK-abundantrelativetoGermany(thatis(K/L)F>(K/L)G).Thismeansthat(w/r)F>(w/r)G.SupposefurtherthatthereisaFIR:inFrance,at(w/r)FapplesareproducedrelativelyK-intensivelybutinGermanyat(w/r)GapplesareproducedinarelativelyL-intensiveway.FactorIntensityReversal:ImplicationsforTradeIftradebegins,accordingtotheH-OtheoremtherelativelyK-abundantcountry(France)willexporttherel.K-intensivegood(apples)andtherel.L-abundantcountrywillexporttherel.L-intensivegood(alsoapples).H-Otheorembreaksdown.Qualification#3:TransportationCostsIntherealworld,itiscostlytotransportgoodsinternationa