Journal Article

An inaugural conjecture

Murray C. Kemp

in Oxford Economic Papers

Volume 61, issue 4, pages 823-826
Published in print October 2009 | ISSN: 0030-7653
Published online April 2009 | e-ISSN: 1464-3812 | DOI: https://dx.doi.org/10.1093/oep/gpp009
An inaugural conjecture

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  • Technological Change; Research and Development
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In his inaugural lecture of 1953 Hicks conjectured that any uniform expansion of a country's production set would benefit its trading partner. Corden and Ikema later provided conditions on that country's consumption which, if added to Hicks’ condition on production, would validate Hicks’ conjecture. However neither related his conditions to the fundamental determinants of the partner's welfare, viz. the preferences, technology, and resources of the expanding country. Later again, Kemp and Wan showed that the conjecture is valid if preferences in the expanding country are homothetic. The present note provides less severe necessary and sufficient conditions for the Hicksian outcome.

Keywords: F11; F43; O19; O30

Journal Article.  1174 words.  Illustrated.

Subjects: Technological Change; Research and Development ; International Trade ; Macroeconomic Aspects of International Trade and Finance ; Economic Development

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