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Unifying Ricardo's Theories of Growth and Comparative Advantage

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  • Burgstaller, Andre

Abstract

The paper formally integrates Ricardo's two-sector growth model with his theory of comparative advantage. Differences with conventional representations of Ricardian trade theory, as well as with Heckscher-Ohlin-Samuelson theory , are noted. It is shown that the Ricardian equilibrium terms of trade are fully determinate, as against the standard Millian view. Also, trade may, depending on direction of specialization, inhibit rather than promote growth and lead to a net contraction of the world economy. Copyright 1986 by The Review of Economic Studies Limited.

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  • Burgstaller, Andre, 1986. "Unifying Ricardo's Theories of Growth and Comparative Advantage," Economica, London School of Economics and Political Science, vol. 53(212), pages 467-481, November.
    • Handle: RePEc:bla:econom:v:53:y:1986:i:212:p:467-81
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    Cited by:

    1. Gabriel Felbermayr & Benjamin Jung & Wilhelm Kohler & Philipp Harms & Jakob Schwab, 2017. "Ricardo – Yesterday and Today," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(09), pages 03-18, May.
    2. Salvadori, Neri & Signorino, Rodolfo, 2013. "The Malthus versus Ricardo 1815 Corn Laws Controversy: An appraisal," MPRA Paper 50534, University Library of Munich, Germany.

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