Conjugate small country production equilibrium concepts

Conjugacy theory is utilized and developed to develop an interpretation of the production equilibrium in general equilibrium in terms of the properties of sectoral value added functions and in terms of the relative influence of each sector on all other sectors in a small country's economy. The exact relationship between the comparative static system thus analyzed and the one traditionally built on equilibrium in terms of the vector of factor prices and gross output levels is delineated. The major contributions to the theory of effective protection are also illuminated.