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What is Value Transfers in Trade Explained about?

This article examines value transfers in trade as an explanation for observed differences in economic development. The authors analyze the concept of free competition and the notions of regulating capital and dominant technique. They find that value transfers are caused by capital competition, with their source being differential productivity. The mechanism for these value transfers is national and international trade, which allows less efficient sectors and economies to transfer value to more efficient one

Author

Mariano Féliz

Language

EN