Risk of Expropriation and Rybczynski Theorem
In the Heckscher-Ohlin world, Rybczynski theorem predicts that holding product prices constant, an increase in the relative supply of a factor increases the relative output of the good that uses that factor intensively so much that the output of the other goods decline. Using a sample of 16 developi...
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| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | article |
| منشور في: |
2014
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| الوصول للمادة أونلاين: | http://hdl.handle.net/10725/3886 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.internationalresearchjournaloffinanceandeconomics.com/ISSUES/IRJFE_Issue_119.htm |
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| _version_ | 1864513462470705152 |
|---|---|
| author | Toukan, Amjad |
| author_facet | Toukan, Amjad |
| author_role | author |
| dc.creator.none.fl_str_mv | Toukan, Amjad |
| dc.date.none.fl_str_mv | 2014 2016-05-26T13:08:02Z 2016-05-26T13:08:02Z 2016-05-26 |
| dc.identifier.none.fl_str_mv | Toukan, A.(2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-139 1450-2887 http://hdl.handle.net/10725/3886 Toukan, A. (2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-139 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.internationalresearchjournaloffinanceandeconomics.com/ISSUES/IRJFE_Issue_119.htm |
| dc.language.none.fl_str_mv | en |
| dc.relation.none.fl_str_mv | International Research Journal of Finance and Economics |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.title.none.fl_str_mv | Risk of Expropriation and Rybczynski Theorem |
| dc.type.none.fl_str_mv | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | In the Heckscher-Ohlin world, Rybczynski theorem predicts that holding product prices constant, an increase in the relative supply of a factor increases the relative output of the good that uses that factor intensively so much that the output of the other goods decline. Using a sample of 16 developing countries, 28 manufacturing industries and eight years, we find evidence contradicting the predictions of Rybczynski theorem. This contradiction is examined using a modification of the Heckscher-Ohlin model to allow for international variability in corruption and risk of expropriation. Our results show that the weak enforcement of property rights indicated by the increase in the incidence of corruption and the increase in the risk of expropriation counteracts the increase in the relative output of capital-intensive goods to the output of labor-intensive goods caused by an increase in the capital stock per worker and predicted by Rybczynski theorem. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | LAURepo_98fa2e85dfa18d89977d9f8a1465a991 |
| identifier_str_mv | Toukan, A.(2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-139 1450-2887 Toukan, A. (2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-139 |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/3886 |
| publishDate | 2014 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Risk of Expropriation and Rybczynski TheoremToukan, AmjadIn the Heckscher-Ohlin world, Rybczynski theorem predicts that holding product prices constant, an increase in the relative supply of a factor increases the relative output of the good that uses that factor intensively so much that the output of the other goods decline. Using a sample of 16 developing countries, 28 manufacturing industries and eight years, we find evidence contradicting the predictions of Rybczynski theorem. This contradiction is examined using a modification of the Heckscher-Ohlin model to allow for international variability in corruption and risk of expropriation. Our results show that the weak enforcement of property rights indicated by the increase in the incidence of corruption and the increase in the risk of expropriation counteracts the increase in the relative output of capital-intensive goods to the output of labor-intensive goods caused by an increase in the capital stock per worker and predicted by Rybczynski theorem.PublishedN/A2016-05-26T13:08:02Z2016-05-26T13:08:02Z20142016-05-26Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleToukan, A.(2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-1391450-2887http://hdl.handle.net/10725/3886Toukan, A. (2014). Risk of Expropriation and Rybczynski Theorem. International Research Journal of Finance and Economics, 119, 128-139http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.phphttp://www.internationalresearchjournaloffinanceandeconomics.com/ISSUES/IRJFE_Issue_119.htmenInternational Research Journal of Finance and Economicsinfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/38862021-03-19T09:10:08Z |
| spellingShingle | Risk of Expropriation and Rybczynski Theorem Toukan, Amjad |
| status_str | publishedVersion |
| title | Risk of Expropriation and Rybczynski Theorem |
| title_full | Risk of Expropriation and Rybczynski Theorem |
| title_fullStr | Risk of Expropriation and Rybczynski Theorem |
| title_full_unstemmed | Risk of Expropriation and Rybczynski Theorem |
| title_short | Risk of Expropriation and Rybczynski Theorem |
| title_sort | Risk of Expropriation and Rybczynski Theorem |
| url | http://hdl.handle.net/10725/3886 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.internationalresearchjournaloffinanceandeconomics.com/ISSUES/IRJFE_Issue_119.htm |