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What is Heckscher-Ohlin Trade Theory Explained about?

The Heckscher-Ohlin theory of trade states that countries will export goods that rely more heavily on their abundant factors of production and import goods that rely more on scarce factors. Specifically, a capital-abundant country will export capital-intensive goods, while a labor-abundant country will export labor-intensive goods. Additionally, the theory predicts that international trade will equalize factor prices between countries over time as they specialize in different goods.

Author

raj gupta

Language

EN