Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam
This paper aims to analyse the international trade in the real world by applying the Ricardian trade theory. In doing this, simple comparative advantage assumptions are used to examine trading of palm oil and rice between Malaysia and Vietnam. By using this theory, it is proven that international tr...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Teknologi MARA Selangor
2018
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| Online Access: | https://ir.uitm.edu.my/id/eprint/28930/1/28930.pdf |
| _version_ | 1796902784448069632 |
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| author | Kok, Wooi Yap Selvaratnam, Doris Padmini |
| author_facet | Kok, Wooi Yap Selvaratnam, Doris Padmini |
| author_sort | Kok, Wooi Yap |
| collection | UITM |
| description | This paper aims to analyse the international trade in the real world by applying the Ricardian trade theory. In doing this, simple comparative advantage assumptions are used to examine trading of palm oil and rice between Malaysia and Vietnam. By using this theory, it is proven that international trade takes place because of efficiency to produce exported product. A country will export products that use its abundant and cheap factors of production and import products that use its scarce factors. Various empirical evidences of previous studies are also used to discuss the importance of the Ricardian model. However, it is also highlighted in the paper that the Ricardian model could be misleading as it has several limitations that restrict its usefulness. |
| first_indexed | 2024-03-06T02:10:22Z |
| format | Article |
| id | uitm.eprints-8930 |
| institution | Universiti Teknologi MARA |
| language | English |
| last_indexed | 2024-03-06T02:10:22Z |
| publishDate | 2018 |
| publisher | Universiti Teknologi MARA Selangor |
| record_format | dspace |
| spelling | uitm.eprints-89302020-03-30T08:46:41Z https://ir.uitm.edu.my/id/eprint/28930/ Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam jibe Kok, Wooi Yap Selvaratnam, Doris Padmini Data envelopment analysis Consumption. Demand (Economic theory) This paper aims to analyse the international trade in the real world by applying the Ricardian trade theory. In doing this, simple comparative advantage assumptions are used to examine trading of palm oil and rice between Malaysia and Vietnam. By using this theory, it is proven that international trade takes place because of efficiency to produce exported product. A country will export products that use its abundant and cheap factors of production and import products that use its scarce factors. Various empirical evidences of previous studies are also used to discuss the importance of the Ricardian model. However, it is also highlighted in the paper that the Ricardian model could be misleading as it has several limitations that restrict its usefulness. Universiti Teknologi MARA Selangor 2018 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/28930/1/28930.pdf Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam. (2018) Journal of International Business, Economics and Entrepreneurship (JIBE) <https://ir.uitm.edu.my/view/publication/Journal_of=A0International=A0Business,=A0Economics_and=A0Entrepreneurship_=28JIBE=29/>, 3 (1). pp. 21-29. ISSN 2550-1429 https://jibe.uitm.edu.my/ |
| spellingShingle | Data envelopment analysis Consumption. Demand (Economic theory) Kok, Wooi Yap Selvaratnam, Doris Padmini Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title | Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title_full | Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title_fullStr | Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title_full_unstemmed | Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title_short | Can Ricardian model really explain trade? / Kok Wooi Yap and Doris Padmini Selvaratnam |
| title_sort | can ricardian model really explain trade kok wooi yap and doris padmini selvaratnam |
| topic | Data envelopment analysis Consumption. Demand (Economic theory) |
| url | https://ir.uitm.edu.my/id/eprint/28930/1/28930.pdf |
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