Abstract
This article traces the evolution of the theory of comparative advantage and the gains from trade from the pioneering work of David Ricardo to the factor proportions approach of Eli Heckscher and Bertil Ohlin. Extensions of the basic models to many goods, factors and countries, and to the long run are noted, as well as the attempts at empirical testing of the predictions derived from them.
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Findlay, R. (2018). Comparative Advantage. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_67
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DOI: https://doi.org/10.1057/978-1-349-95189-5_67
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