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KCI등재 학술저널

Factor Price Equalization: Theory and Evidence

Factor Price Equalization: Theory and Evidence

  • 5

Students of international economics have absorbed the factor price equalization (FPE) theorem over recent decades. It may be time to reconsider that factor prices would likely converge outside the context of the formal Heckscher-Ohlin-Lerner-Samuelson model. This paper reviews the theoretical evolution of FPE and the empirical evidence regarding the influence of trade on the international pattern of factor prices.