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论文作者:英语论文论文属性:作业 Assignment登出时间:2014-11-12编辑:yangcheng点击率:17434
论文字数:4813论文编号:org201411102351185803语种:英语 English地区:加拿大价格:免费论文
摘要:本文是一篇国际贸易的经典理论,本章的目的是回顾外国直接投资的现有机构知识,并通过战略研究吸引外国直接投资。它试图展示有助于理解和外国直接投资的根本动机的相关理论,假设和思想流派的总结。
The concept of FDI cannot be disassociated with the basis of why countries trade and the latter has been pioneered by the famous classicists namely Adam Smith (1776) with his Absolute Advantage theory and David Ricardo (1819) with his Comparative Advantage theory of trade. Adam Smith, the founder of economic theory, was the first to broach in “Wealth of Nations” that business would grow internationally for real economic growth.
Both Smith and Ricardo concluded that countries would benefit from international trade if they have an absolute and comparative advantage in those products that they would be exporting and they should import those goods for which they have an absolute and comparative disadvantage. Consequently they were of the opinion that there should be complete specialisation by the countries involved in international trade based on the same principle as that of division of labour. They based their reasoning on the labour theory of value. The labour theory of value states that the value or price of a commodity is equal to or can be inferred from the amount of labour time going into the production of the goods. It, however, assumes that labour is the only factor of production and that it is also homogeneous. Because of these restrictive assumptions, the labour theory of value was contested and replaced by the opportunity cost advantage propounded by G.Haberler in 1936. The latter emphasised more on how a country has a comparative advantage rather than on what are the determinants of comparative advantage. It says that the cost of a commodity is the amount of a second commodity that must be given up in order to release just enough factors of production or resources to be able to produce one additional unit of the first
commodity. Consequently labour will not be the only factor of production and will not be homogeneous.
The Heckscher-Ohlin (HO) Theory
The HO theory also known as factor endowment model was put forward by Heckscher (1919) and Ohlin (1933) and was among the modern theories of international trade showing the causes of international trade. Adam Smith and David Ricardo remained silent on the causes of trade and on how trade affects factor prices and the distribution of income in each of the trading nations. The HO theorem postulates that each nation will export the commodity intensive in its
relatively abundant and cheap factor and import the commodity intensive in its relatively scarce and expensive factors of production. It implies that a country must have the necessary resources to export goods. Some of the assumptions of the model again act as its own limitations on its effectiveness namely when it comes to free trade with no transport costs, tastes are similar across countries, perfect competition in factor and commodity markets, factors immobility internationally, use of same technology in the production of the two goods andtwo factors of production and本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。