R&D,trade in intermediate inputs,and the comparative advantage of advanced countries |
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Institution: | 1. International Monetary Fund, 700 19th Street, NW, Washington, DC 20431, United States;2. Bank of Japan, Japan;1. School of Social Sciences, Waseda University, Japan;2. School of Political Science and Economics, Waseda University, Japan |
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Abstract: | This paper examines the accumulation of physical capital versus knowledge (R&D) capital as a determinant of advanced countries’ comparative advantage. I show that advanced countries are abundant in R&D resources, specialize in knowledge-intensive stages of high-technology industries, and outsource labor-intensive stages of the industries to labor-abundant countries. In contrast, global data on production and trade cannot support the conventional view that advanced countries specialize in and export capital-intensive goods. My results indicate that the accumulation of knowledge capital plays a vital role in explaining advanced countries’ comparative advantage. |
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Keywords: | Heckscher–Ohlin–Vanek R&D service Specialization Production techniques Foreign outsourcing |
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