A multi-factor test of the Heckscher- Ohlin theory in the trade between Greece and the E.U.
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XVI, No.2, 2004, pages 45-57
Issue:
Pages:
45-57
Author:
Abstract:
The paper presents some further evidence on the empirical validity of the Heckscher-Ohlin-Vanek (H-O-V) theory in the trade between Greece and the European Union. A multi-factor test with six factors of production is performed, something that it is done for the first time in the empirical trade studies of the Greek economy. Two non-parametric tests have been used to provide evidence for the validity or not of the H-O-V in the trade between Greece and the E.U.: the “sign” test and the “rank” test. On the basis of both tests it can be concluded that there is some support for the H-O-V theorem in the trade between Greece and the EU.
Subject:
Subject (LC):
Keywords:
Heckscher-Orhlin-Vanek, Multi-Factor Test, Greece, E.U
Notes:
JEL classification: F11, F14
