Please enable JavaScript.
Coggle requires JavaScript to display documents.
Theories of International Trade and International Investment - Coggle…
Theories of International Trade and International Investment
Mercantilism
Economic and Cultural Philosophy
Commerce
16th and 17th centuries
Creation of policies by the government
Adam Smith and the Theory of Absolute
Advantage
Skill of labor force. 2. Proportion of productive to unproductive labor.
Services did not contribute to real wealth.
Absolute Advantage.
Recognizes industry.
David Ricardo and the Theory of Comparative
Advantage
Labor
Comparative advantage
The Heckscher–Ohlin (Factor Proportions) Model
Expands number of factors
Considers machinery as capital
Capital Intensive
Labor Intensive
Raymond Vernon and the Product Life Cycle
Theory of Trade
Information
Uncertainty
Scale economics
Trade Cycle