Endowment Versus Finance : A Wooden Barrel Theory of International Trade

A Wooden Barrel Theory of International Trade

Endowment Versus Finance : A Wooden Barrel Theory of International Trade
This paper develops a theory of international trade in which financial development and factor endowments jointly determine comparative advantage. We apply the financial contract model of Holmstrom and Tirole (1998) to the Heckscher-Ohlin-Samuelson (HOS) model in which firms' dependence on external finance is endogenous, and the demand for... READ MORE...

Publication date: June 2005
ISBN 9781451861426
$15.00

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