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comparative advantage

Overview page. Subjects: Economics.

A country is said to have a comparative advantage in production of a good if it has lower opportunity costs in producing this good compared to another country or the rest of the world. If...

See overview in Oxford Index

comparative advantage

John Black, Nigar Hashimzade and Gareth Myles.

in A Dictionary of Economics

January 2009; p ublished online January 2009 .

Reference Entry. Subjects: Economics. 80 words.

A country is said to have a comparative advantage in production of a good if it has lower opportunity costs

comparative advantage

Nigar Hashimzade, Gareth Myles and John Black.

in A Dictionary of Economics

January 2017; p ublished online January 2017 .

Reference Entry. Subjects: Economics. 81 words.

A country is said to have a comparative advantage in production of a good if it has lower *opportunity cost...

comparative advantage

Edited by John Black, Nigar Hashimzade and Gareth Myles.

in A Dictionary of Economics

January 2012; p ublished online May 2013 .

Reference Entry. Subjects: Economics. 81 words.

A country is said to have a comparative advantage in production of a good if it has lower *opportunity costs...

comparative advantage

Edited by Craig Calhoun.

in Dictionary of the Social Sciences

January 2002; p ublished online January 2002 .

Reference Entry. Subjects: Social Sciences. 259 words.

First articulated by David Ricardo in 1817, the principle of comparative advantage provides the basic explanation of “gains from

Comparative Advantage

in The Oxford Companion to International Relations

January 2014; p ublished online January 2014 .

Reference Entry. Subjects: International Relations. 3505 words.

Introduced first by David Ricardo in 1817, the comparative-advantage hypothesis remains one of the principal explanations of how productive

comparative advantage

Overview page. Subjects: Economics.

A country is said to have a comparative advantage in production of a good if it has lower opportunity costs in producing this good compared to another country or the rest of the world. If...

See overview in Oxford Index

comparative advantage

Charles Doyle.

in A Dictionary of Marketing

January 2016; p ublished online May 2016 .

Reference Entry. Subjects: Marketing. 91 words.

The principle that companies and countries are best employed in activities that they undertake and execute relatively better than their competitors. For example, in the economics of...

comparative advantage

Edited by Jonathan Law.

in A Dictionary of Accounting

July 2016; p ublished online November 2016 .

Reference Entry. Subjects: Accounting. 82 words.

The relative efficiency in a particular economic activity of an individual or group of individuals over another economic activity, compared to another individual or group. One of the...

Learning Your Comparative Advantages

Theodore Papageorgiou.

in The Review of Economic Studies

July 2014; p ublished online February 2014 .

Journal Article. Subjects: Demand and Supply of Labour; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Mobility, Unemployment, and Vacancies. 16626 words.

While employed, workers learn their comparative advantage and eventually choose occupations that best match their abilities. This learning process is consistent with a number of key facts...

Revealing Comparative Advantage

J. David Richardson and Chi Zhang.

in Topics in Empirical International Economics

April 2001; p ublished online February 2013 .

Chapter. Subjects: International Economics. 12447 words.

Using Bela Balassa's index of revealed comparative advantage (RCA), this chapter explores the United States' comparative advantage across time, trading partners, and sectors at an...

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Comparative Advantage and Economic Specialization

Mark Thomas.

in The Oxford Encyclopedia of Economic History

January 2003; p ublished online January 2005 .

Reference Entry. Subjects: Economic History. 3284 words.

Comparative advantage is among the most profound and important concepts in economics. It provides the theoretical basis for specialization, a

Comparative Advantage and Optimal Trade Policy

Arnaud Costinot, Dave Donaldson, Jonathan Vogel and Iván Werning.

in The Quarterly Journal of Economics

May 2015; p ublished online February 2015 .

Journal Article. Subjects: Economics. 13470 words.

The theory of comparative advantage is at the core of neoclassical trade theory. Yet we know little about its implications for how nations should conduct their trade policy. For example,...

The Comparative Advantage of the NICS

Peter C. Y. Chow and Mitchell H. Kellman.

in Trade—The Engine of Growth in East Asia

August 1993; p ublished online October 2011 .

Chapter. Subjects: International Economics. 4372 words.

This chapter examines the “revealed comparative advantage” (RCA) of the NICs. Balassa's thesis of “stages of comparative advantage” and measure of RCA is utilized to describe the relative...

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Comparative Advantage and Gains from Trade

John P. Burkett.

in Microeconomics

April 2006; p ublished online October 2011 .

Chapter. Subjects: Microeconomics. 5973 words.

This chapter discusses the microeconomic concepts of gains from trade and comparative advantage. It explains that gains from trade are particularly large when producers specialize in the...

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Comparative Advantage and Heterogeneous Firms

Andrew B. Bernard, Stephen J. Redding and Peter K. Schott.

in The Review of Economic Studies

January 2007; p ublished online January 2007 .

Journal Article. Subjects: International Trade. 16881 words.

This paper examines how country, industry, and firm characteristics interact in general equilibrium to determine nations' responses to trade liberalization. When firms possess heterogeneous...

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Skills and Changing Comparative Advantage

Edward N. Wolff.

in Does Education Really Help?

April 2006; p ublished online October 2011 .

Chapter. Subjects: Public Economics. 11031 words.

This chapter considers the relationship between the changing skill base of the US labor force and the country's shifting comparative advantage in the international arena. It focuses on the...

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Customs unions and comparative advantage

C Syropoulos.

in Oxford Economic Papers

April 1999; p ublished online April 1999 .

Journal Article. Subjects: Economics. 0 words.

This paper constructs a simple, general equilibrium trade model to investigate how the formation of unconstrained, GATT-constrained, and Kemp-Wan customs unions affects inter-bloc tariffs...

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Finance, Comparative Advantage, and Resource Allocation

Melise Jaud, Madina Kukenova and Martin Strieborny.

in Review of Finance

May 2018; p ublished online October 2017 .

Journal Article. Subjects: Banking; Corporate Governance; International Trade; Economic Development. 23468 words.

Abstract

Can financial institutions and markets enhance the discipline imposed by competitive product markets and thus improve resource allocation in the real...

Comparative institutional advantage in the context of development*

Bob Hepple QC.

in The Role of Labour Standards in Development

October 2011; p ublished online January 2013 .

Chapter. Subjects: Economic Development and Growth. 3704 words.

This chapter discusses how the theory of comparative institutional advantage might be applied in the context of development. In so doing, it draws on the work of Hall and Soskice on Varieti...

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Regional competitiveness: clusters or dynamic comparative advantage?

Ron Martin and Peter Sunley.

in Competition, Competitive Advantage, and Clusters

February 2011; p ublished online May 2011 .

Chapter. Subjects: Business Strategy. 11219 words.

This chapter offers a critique of the claim that clustering is a key source of competitive advantage both for the firms involved and for the region where a cluster is located. The chapter...

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