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Title: Revisiting Leontief’s paradox
Authors: Paraskevopoulou, Christina
Tsaliki, Persefoni
Tsoulfidis, Lefteris
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Economics
Keywords: Leontief’s paradox
international trade
US economy
factor content
Issue Date: 2016
Publisher: Routledge
Source: International Review of Applied Economics
Volume: 30
Issue: 6
First Page: 693
Last Page: 713
Abstract: According to the popular Heckscher-Ohlin model of international trade, a country is expected to export (import) those products whose production requires the intensive use of the factor of production that is in relative abundance (scarcity). Leontief (1953), using input–output data of the US economy for the year 1947, found that the US, an overwhelmingly capital-abundant country, exported labour-intensive products and imported capital-intensive ones. Clearly, the results contradicted the predictions of the Heckscher-Ohlin model and they were characterised as ‘Leontief’s paradox’. A number of explanations for the so-called paradox were offered and this paper briefly, but critically, evaluates these explanations as it examines whether or not Leontief’s results persist in the case of the US economy during the period 1998–2012.
ISSN: 0269-2171
Electronic ISSN: 1465-3486
Other Identifiers: 10.1080/02692171.2016.1173655
Appears in Collections:Department of Economics

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