Extract from On the Principles of Political Economy and Taxation, London, 1817, pp. 156–185

Ricardo, David

doi:10.1201/9780429349447-17

Cited by 50 publications

(61 citation statements)

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“…For instance, in the internalization theory-based model of the global factory, the principles of market versus firm, the optimal location for all activities, and the governance of the firm to achieve innovation all react to policy changes in theoretically predictable and empirically tested ways (that tariffs reduce imports and induce tariff-jumping FDI is well established in 50 years of international business theory and even more years of international economics). In macro theory, from Ricardo ( 1817 ), to Vernon’s ( 1966 , 1974 , 1979 ) product cycle hypothesis, such outcomes are predictable, stable, and well documented. Similarly, using meso-theory, such as the market for market transactions (Liesch, Welch, & Buckley, 2011 ), we can predict the effects of policy on outsourcing.…”

Section: The Bifurcation Of the World Economymentioning

confidence: 99%

The theory and empirics of the structural reshaping of globalization

Buckley

2020

J Int Bus Stud

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Petricevich and Teece's (2019) article on the reshaping of globalization raises profound issues on the theory and empirics of international business. The fracture in the world economy between the USA and China is the result of Government policy, but its relationship to rising VUCA (volatility, uncertainty, complexity, and ambiguity) elements in globalization is more complex than simple policy changes. This paper suggests that a reappraisal of theory is required, not least because of the eruption of Covid-19, but that internalization theory is the best source of theoretical restructuring in the face of the new empirical realities facing the global economy.

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Section: The Bifurcation Of the World Economymentioning

confidence: 99%

The theory and empirics of the structural reshaping of globalization

Buckley

2020

J Int Bus Stud

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“…According to the traditional theory of comparative advantage developed by Ricardo (1817) and further advanced by Heckscher and Ohlin (Salvatore 2002), international competitiveness (comparative advantage) is determined inter alia by the relative endowment of factors of production, innovations in products and production processes, and the intensity of entrepreneurial activity. The theory further postulates that international competitiveness is secured when production is in line with a country's comparative advantage.…”

Section: Literature Reviewmentioning

confidence: 99%

Competitiveness and diversification of service exports in sub-Saharan Africa: The case of the East African Community

Were¹,

Odongo²

2019

WIDER Working Paper

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provides economic analysis and policy advice with the aim of promoting sustainable and equitable development. The Institute began operations in 1985 in Helsinki, Finland, as the first research and training centre of the United Nations University. Today it is a unique blend of think tank, research institute, and UN agency-providing a range of services from policy advice to governments as well as freely available original research. The Institute is funded through income from an endowment fund with additional contributions to its work programme from Finland, Sweden, and the United Kingdom as well as earmarked contributions for specific projects from a variety of donors.

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“…We argue that patterns of specialization among childhood immigrants are compatible with the idea that individuals acquire skills in ways that reinforce their early relative inclinations. This comparative advantage argument underpins classic economic texts including David Ricardo’s study of countries’ production specialization (10) and Andrew Roy’s original writings on occupational choices (11, 12). Our reasoning is theoretically grounded in well-established models of skill formation (13, 14).…”

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confidence: 94%

Early patterns of skill acquisition and immigrants’ specialization in STEM careers

Rangel

Shi

2018

Proc. Natl. Acad. Sci. U.S.A.

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SignificanceDo net returns to early investments in skill acquisition explain patterns of occupational specialization among immigrants? We design an empirical analysis of nationally representative data to show that age at immigration and mother tongue influence course-taking patterns in high school and college major choice. Immigrant children with greater relative endowments in nonlanguage skills specialize in math and science course credits over English and are more likely to pursue science-, technology-, engineering-, and math-intensive subjects in college. This reveals the early influence of comparative advantage over immigrant career choices and economic assimilation in the United States.

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Extract from On the Principles of Political Economy and Taxation, London, 1817, pp. 156–185

Cited by 50 publications

References 0 publications

The theory and empirics of the structural reshaping of globalization

The theory and empirics of the structural reshaping of globalization

Competitiveness and diversification of service exports in sub-Saharan Africa: The case of the East African Community

Early patterns of skill acquisition and immigrants’ specialization in STEM careers

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