An Empirical Analysis of Factor Endowments and Comparative Advantage
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The role of factor endowments in determining comparative advantage has strong theoretical backing from the Dornbusch-Fischer-Samuelson (DFS) Model of Ricardian Comparative Advantage. This thesis presents a calibration exercise of the DFS model using a modified Grubel-Lloyd Index as a proxy for comparative advantage. The role of a country’s income level in determining its behavior with respect to changes in the levels of capital, labor and technology worldwide relative to the rest of the world is investigated as is the possibility of capital having a delayed effect as a determinant of comparative advantage. In most cases, it is found that the DFS model explains comparative advantage relatively well. However, results are found which question the model’s ability to explain comparative advantage changes as an outcome of variations in the labor force.
Franklin and Marshall College Archives, Undergraduate Honors Thesis 2011
- F&M Theses Collection 
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