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The traditional theory of comparative advantage Review
British classical economist Adam Smith in his masterpiece "The Wealth of Nations" and to clarify the famous "invisible hand" mechanism, he believes in a market economy, driven by the interests, for their own subjective microeconomic body may through the division of labor and trade and the objective for social work, in order to achieve self-interest and mutual benefit, individual and community interests of each other. Therefore, the relationship between the interests of economic agents do not like the mercantilists claimed as certain non-win-lose, but is likely to achieve "win-win". Economic entities "selfish" should not be achieved through the loss of people go, but should be achieved through altruism. Specific ways for the various social economic entities division of labor according to their expertise, conduct specialized production, and through market transactions, resulting in the overall achievement of social welfare maximization. Obviously, once beyond the national scope of trading activity, the international division of labor and international trade has emerged. This theory is known as Smith's theory of absolute advantage. This theory solves the important international trade motivation, but can not answer a question, that is, if a country on any commodity production are no absolute advantage, then this country can not participate in the international division of labor? Another British classic economist David Ricardo's comparative cost (comparative advantage) theory to solve this problem. He believes that, regardless of a country's economy is in what state, economic forces are strong or weak, the technical level is high or low, can determine their respective comparative advantages, even if the overall disadvantage, can also be found from a number of disadvantages relative advantage . The key is to compare the comparative cost.
Whether it is based on the difference in labor productivity theory of comparative advantage, or to the supply of factors of production-based resource endowment theory, its comparative advantage on the premise that all countries produce the supply, production conditions can not be changed, resources and factors of production can not be in the international flow This traditional comparative advantage with static characteristics. But in today's economy under the conditions of globalization, factors of production, resources can be internationally mobile; natural resources could be improved through technological advances, synthetic or replaced by new materials, human resources and human capital investment through to the "quality" on the edge to make up the "quantity" of the disadvantages. This indicates that the majority of developing countries have static comparative advantage in international competition is not necessarily a dynamic competitive advantage. The formation of new trade theory and disadvantages As traditional trade theory based on "constant returns to scale of production" and "perfect competition" as the basic assumptions, it is difficult to explain the emergence of World War II to 1975 the number of new phenomenon: international trade, monopolistic competition, new technologies, protectionism within the industry trade. In fact, these phenomena can use the "economies of scale", "product differentiation", "imperfect competition" to be summarized. Swedish economist Lindell proposed in 1962, even if the factor endowments between different geographical conditions and the production function is no different, but because of inter-regional differences in demand preferences can lead to mutually beneficial trade. He noted that many countries tend to be kind to each other export the same, but different brands of products. They are obtained from international trade in most cases the performance benefits for the consumer to buy a desired because a particular brand of industrial and won the utility. Therefore, intra-industry trade can be explained. In this type of trade, product differentiation has an important role. The so-called product differentiation refers to similar products or services, vendors through quality, functionality, style, brand, advertising, service and other aspects of the efforts to make their own business has some kind of specialty. It is not perfectly competitive, monopolistic competition, especially linked. In monopolistic competition market, the similarities between the products make them the possibility of substitution increases, resulting in competition; while the differential between the products have resulted in a certain degree of monopoly. The higher the degree of product differentiation, product substitutability smaller the price elasticity of demand for the product is lower, the result is that manufacturers can control to some extent, the price of their products. And this is the assumption of perfect competition traditional trade theory can not explain. For the deficiencies of traditional trade theory, imperfect competition to the assumption of new trade theory emerged. In addition to product differentiation outside, the theory is the most important one is the central concept of economies of scale. Refers enterprise under conditions of imperfect competition in international trade due to expansion of the market so that the resulting long-term average costs decline as production increases. Compared with the traditional trade theory, extensive use of new trade theory of industrial organization, market structure, imperfect competition, economies of scale, product differentiation and other new concepts and ideas to construct a theoretical model of the theory of international trade has made new significant progress. However, until the early 1980s, based on economies of scale based on the new trade theory is still not compatible with the traditional comparative advantage, so the ability to trade still does not explain the reality of generalization. In 1985, Helpman and Krugman's "Market Structure and Foreign Trade," a book published, marking the new trade theory mature. The book combines a variety of new trade theory, proposes a systematic analytical framework, thus bringing new trade theory raised to the height of the basic theory to further enhance the applicability. The book made a business model not only importing economies of scale, product differentiation factors, in line with the conditions of monopolistic competition hypothesis, but also compatible with the traditional comparative advantage, so that the new trade theory more general, explaining stronger. The model suggests that, first, the inter-industry trade is based on comparative advantage and factor endowments based on the abundant labor resources countries have become net exporters of labor-intensive products and capital, a net importer of technology-intensive products, from the decisive role of the main factors is still comparative advantage. Second, intra-industry trade is built on economies of scale and product differentiation on the basis that even countries with the same level of technology and the same capital - labor ratio, the two countries will continue to produce the same vendor heterogeneous industrial products, consumer differences on foreign demand for manufactured goods will lead to intra-industry trade. Since the pursuit of economies of scale, trading parties generally produce only a limited range of products, and then through intra-industry trade to enhance mutual social welfare. Third, the comparative advantage based inter-industry trade and economies of scale, product differentiation based on intra-industry trade is symbiotic coexistence.#p#分页标题#e# New trade theory make these improvements become mainstream trade theory. However, as the theory is produced in relatively developed market economy context, and therefore its not from the developing countries' perspective "look at the issue. Some may be beneficial to developing countries for the development of foreign trade and no clues for further study. For example, (1) new trade theory assumes that countries basically sound market system, the basic theory of general equilibrium analysis framework, from the mature market economy perspective of the international economy and trade, and thus is in the economic transformation China, the lack for and applicability. In a mature market economy, the optimal allocation of domestic resources is a clear corporate property rights and market mechanisms to achieve automatic, domestic trade opportunities and therefore assumed to have been fully utilized no longer be considered. (2) new trade theory reveals the technology on a positive role in promoting trade between, but the newcomer factor in developing countries how to use technology to achieve "catch-up" without depth. (3) new trade theory does not provide how developing countries can escape from the "comparative advantage trap" direction. Comparative advantage in the three levels of meaning China's imminent accession to the WTO. Clearly, the Chinese economy to meet the economic globalization and the great challenges that WTO accession must be a better play to their comparative advantage. However, we believe, to avoid falling into "comparative advantage trap", meaning that comparative advantage can not be narrowly confined to the traditional hierarchy, but should break the stereotype of existing theories, expanding into the following three levels. 1. Comparative Advantage I: resource endowments and comparative cost Any development of a country's foreign trade will be subject to their domestic resource endowments and comparative cost constraints, it is undisputed. China is a developing country, the socialist market economy is still in the "primary stage." From China's current economic development situation, according to the traditional comparative advantage in production and trade can not be abandoned prematurely, for quite some time still has important practical significance. Since reform and opening, the concept of a general increase in interest-driven, market mechanisms will be more economic resources allocated to reflect and play China's comparative advantage in labor factor labor-intensive industries, and through the export of the products of these industries to achieve a large-scale " conversion of resources ", that the country's foreign exchange resources, high low resources, thus promoting China's industrialization. Current and future China still needs to make full use of traditional comparative advantages, the reasons are: (A) the current effort to develop capital and technology-intensive industries exports are still subject to the constraints of factor inputs. China, as a developing country newcomer, if the current effort to develop capital and technology-intensive exports, will face a serious constraint factor inputs, these factors include capital, technology, personnel and so on. Continue to play a traditional factor endowments and comparative costs to the core of comparative advantage for the emerging capital (or technology) accumulation of capital-intensive industries, technology, entrepreneurship training, so as to technological innovation, break through bottlenecks and factors of production inputs promote the traditional labor-intensive industries escalating basis. (2) continue to play a traditional comparative advantage is conducive to China at the macro level to improve resource allocation efficiency. Principles of macroeconomics that macro-level resources are utilized and over-utilized economic inefficiency performance. The high involuntary unemployment (whether they are implicit or explicit) means that real GDP below potential levels. Currently there are hundreds of millions of rural surplus labor urgent transfers. Compared with most countries in the world, China's capital, technology is relatively scarce, costly, labor is relatively abundant, low cost, and a country's economic competitiveness and it offers low cost of goods and services closely related to premature abandon the traditional comparative advantages, will only lead to haste makes waste. China as a developing country with a large population, weak economic foundation, uneven regional development, the advantages of relatively low labor costs will be at least some time in the future be maintained. We developed countries should take full advantage of the opportunity to adjust the industrial structure, its technology is relatively advanced labor-intensive industries or production chain transfer over. Therefore, to get rid of that labor-intensive industries are necessarily the technology behind the industry, as well as the development of high-tech industries that we can not take advantage of low labor cost advantage of old ideas. With modern technology, such as information technology, biotechnology, new materials technology and other industries to penetrate more and more labor-intensive industries will greatly improve the technical content. Meanwhile, we also see that in the capital-and technology-intensive industries, including the high-tech industry also has a labor-intensive production processes. Therefore, the development of high-tech production processes are labor-intensive industries and economic comparative advantage to play China's efforts directions. In addition, China's enterprises in the production of any kind of product should be valued at more important aspects of production operations has accumulated to form their own comparative advantage. For example, in textile production, our companies have a comparative advantage in the processing sectors, but in high-quality fabrics and accessories, design and other production processes is not an advantage. Again, increasing the added value of export products, depends both on the production processes, but also on the circulation, the latter sometimes higher value-added. In such cases, efforts to develop their own international marketing channels is even more important. 2. Comparative advantage Ⅱ: External Economies and the advantage From an economic development trend, China's existing resource endowments founded on the basis of comparative cost and comparative advantage will gradually diminish. On the one hand, China's per capita amount of resources would not abundant, rapid economic growth has enabled a significant increase in domestic consumption of resources, resulting in many domestic resource-based products (including agricultural) prices have been close to or even exceeded the international market. Other hand, the process of economic development of labor wages inevitably rise. It is expected that the domestic market process faster, changes in the relative prices of factors of production is also faster, the conversion requirements of the export commodity structure more urgent. At the same time, resources, and low income elasticity of labor-intensive products, with the rapid expansion of China's foreign trade, the external market demand binding increased significantly. Low, the terms of trade of primary products in the long term was deteriorating trend. Labor-intensive products to the export pattern in the future will not have much room for growth. Therefore, China's foreign trade development strategy must focus on the selection of technological progress enjoyed dynamic trade facilitation benefits. Generally speaking, there are two sources of technological change: one is through specialized research and development and produce, this technology is a revolutionary change (1nnovation), it is generally R & D results. Another is through trade and other economic actors to accept the "spillover" (Spillovers) and learned, called "learning by doing" (Learning by doing). The technology not only talking about here is the production technology, but also includes management knowledge. In most cases, the so-called technological progress is not always an unprecedented new inventions, but only by accepting the "spillover" of others have learned advanced technology. As advanced technology owners, sometimes not intentionally transfer their technology, but in the trade or other economic activity in a natural output of the technology. Whatever the technology, there is a spillover process. "Learning by doing" type of technical progress are mostly obtained from technology spillovers. International trade has an important "spillover" effect and "learning by doing" effect. Through trade activities could introduction of foreign advanced technology and advanced management concepts, and "spillover" to the domestic industry. In fact, trade and technical experts with entrepreneurs and out relevant. Because of their access, information flow quickly formed, the technology has been more effectively across borders transfer. In addition, exports must understand the needs of foreign markets, foreign buyers demand goods orders often involve the design, style, production processes, materials, costs, and other valuable information. This kind of "external economies" and "the advantage" may constitute a generalized comparative advantage of China's economy is another important component. The so-called latecomer advantage refers to the existence of many countries in the world, under the conditions of less developed countries from the developed countries have gone through the economic development path (or trace) draw both positive and negative experiences (or lessons), combined their actual situation and make more informed choice of development strategy, thus avoiding take the "first mover" countries have gone through the "detour" to the shorter "shortcut" to shorten their faster economic levels between developed countries the distance. China is a developing country, relying on modern economic structure evolved from the inside of the process is extremely slow, probably can not wait for the day had been successful evolution in the fierce international competition out of the game. Thus, drawing on the successful experience of developed countries, combined with their own national conditions, better use of external economies and the advantage is to play an important comparative advantage of China's original measure. To this end, China's future economic development should pay attention to the following points:#p#分页标题#e# (1) emphasis on domestic inter-regional trade. China's vast territory, district resource endowment significant difference between, there is considerable potential for the development of domestic trade, the domestic division of labor and inter-regional trade could reduce the cost of Chinese exports, as its international competitiveness as a source. To speed up the national unity of goods and factors of production the formation of a large market, and improve resource allocation efficiency in space, we should vigorously develop the national inter-regional trading network, allowing enterprises to regional development and acquisitions, and effectively implemented to enable local governments to lose separating protection Local business interests impulses, thereby reducing the natural and man-made causes of inter-regional transaction costs. (2) emphasis on expanding opening up and actively with international multinational companies to establish long-term cooperative relationship. For many years China has become the world's second largest after the United States in attracting foreign direct investment in the host country. This is actually the international community on China's economic and political stability and economic health affirmed. We want to take advantage of the opportunities of globalization, from the perspective of industrial restructuring, the use of foreign capital and domestic economic structure upgrading closely linked, in order to improve the quality and efficiency of utilization of foreign capital. Today's world, the main driving force of economic globalization, multinational companies, especially large multinational companies. In the "WTO", foreign multinationals poured into the case, our business relationship with foreign multinational companies, both fiercely competitive side, another closely side, foreign-funded enterprises, local strategies often need to seek Chinese local enterprises as joint venture partners. In joint ventures, equity diversified under the premise of our enterprises are likely to bond with foreign multinational companies through equity formed a sort of "incentive-compatible" mechanism, thus speeding up China's enterprises to enter the international sales network the pace and process of innovation. (3) emphasis on using modern technology to transform traditional industries applicable. Tech is a dynamic and relative concept, for the traditional industries, should take advantage of modern applied technology, technological innovation based on market demand as the starting point and touchstone, it is not only the main features of high-tech industries, but also enhance the competitiveness of traditional industries, the only way . Technically optimal technological achievements do not automatically mean also economically optimal. If the results of the implementation of an costly or difficult to industrialization, it can only be in "sample" phase. Tends to increase intra-industry trade in the context of a country or region of production and export what product is not the most important thing, more important is to look at what is the use of techniques and methods to produce this product. For example, with the production of grain, can be used both slash and burn method of production, can also be mechanical or biological genetic engineering technology to produce. Wishing relatively abundant labor resources of comparative advantage into competitive advantage on the international market in two ways. First, through technical innovation, high-tech, including from abroad after the digestion and absorption of technology and China's labor combine to produce in the market with competitive products, then the comparative advantage lies with the high-tech products, But in China's production of lower cost, thus competitively priced. Second, through technical innovation, the traditional labor-intensive products deep processing, fine processing, and increase their added value, the formation of product differentiation is easily accepted by the market characteristics. Then the comparative advantage lies with the labor-intensive products, but our production of more features, and thus has a non-price competitive advantage. These two pathways are also available and will use it. 3. Comparative advantage Ⅲ: Competitive Advantage and Innovation In imperfectly competitive contemporary world economy, international trade is a competitive advantage by including comparative advantages, including a generalized. Traditional comparative advantage theory construction in a perfectly competitive world, while competitive advantage is built on the basis of imperfect competition, which is the traditional comparative advantage and competitive advantage of the difference lies. In the real world, the traditional comparative advantage merely indicates a potential for price competition. In fact, the comparative advantage to the product obtained is to realize the value of the premise. In a perfectly competitive world, there is no economies of scale and corporate events, products are homogeneous, non-price competition does not exist, it directly reflects the comparative advantage of price competitiveness. Thus comparative advantage and competitive advantage is entirely consistent. But in a world of imperfect competition, price competitive advantage not only from the comparative advantages, but also may result from economies of scale, product differentiation and other factors. We believe that the concept of competitive advantage will be incorporated into the generalized system of comparative advantage to go from theory to better help guide future development of Chinese economy. Affect a country's industrial competitiveness is an important factor by the American economist M · Bo Teti out. He believes that a country's international competitiveness depends on four basic factors: the demand for factors of production, related supporting industries, business strategy, organizational structure and competition. In addition, there are two auxiliary factors, namely, the opportunities and the role of government. Potter asked about the determinants of competitive advantage for a country to improve its international competitiveness of industry has an important role in learning, but also on the broad concept of comparative advantage to expand the connotation provide useful ideas. However, Porter's theory of competitive advantage, as the limitations of institutional factors for a given premise without attention. We believe that China's economic development and improve the international competitiveness of enterprises by institutional innovation to promote. Mainly includes three aspects, which constitute the comparative advantage of China's economic generalized endogenous mechanisms important part. (A) institutional innovation in favor of human capital accumulation, thereby enhancing the international competitiveness of enterprises. And physical capital, once formed reproducibly generate revenue similar to people through education and training investments, once owned a skilled, but also by virtue of technology continues to get higher income, it can be regarded as a form of capital to labor skills that human capital. Krugman's new trade theory expounded in many treatises cited "human capital" concept, but he basically human capital as a kind of "stock." Another concept in economic theory "learning curve" in his mouth, but also can lead to the accumulation of human capital dynamic production efficiency point of view, but the concept did not put technological advances and research expenditures and investments in education or training linked. New Institutional Economics research shows that if a country's institutional factors restricting the accumulation of human capital in the country, then the country's social development and wealth accumulation will be seriously affected. On the contrary, it is possible to form a virtuous cycle that a country's institutional innovation can be more motivating social investment in human capital accumulation, which led to the country's economic competitiveness enhancement and wealth increases, make it stronger The ability to increase investment in human capital accumulation. Therefore, institutional innovation induced by the increase in human capital may constitute a country's economic growth and foreign trade development of the "endogenous variables." At the enterprise level, human capital on the international competitiveness of enterprises prominently play the role of the entrepreneur. In the field of international business, trade is more complex than domestic business, performance guarantee there are large uncertainties. Thus, the transaction's success largely depends on entrepreneurship. New trade theory trade development of economies of scale as a major cause, and size of the business is actually a function of entrepreneurship. Entrepreneurship, enterprise-scale development of the play is one of the basic premise. Visible economies of scale are an important source of entrepreneurial human capital. Therefore, if a country's institutional factors capable of entrepreneurs have a special human capital formation to provide adequate incentives, you can quickly generate a large number of well versed in international trade and overseas markets, entrepreneurs, and thus directly affect the development of the country's international trade and promoting its original comparative advantages. Economic history shows that in favor of human capital accumulation in the various institutional arrangements, and obtain a clear definition of property rights protection is the most effective. Zaire has pointed out: "secure in the enjoyment of their own land, capital and labor but the fruits of these production factors induce people into productive use of the most powerful motive." From the point of view of rational expectations, the system of property rights for people to self-investment and human capital accumulation is expected to provide precise, it can be a country of entrepreneurs with international standards group produces a powerful incentive to deliver sustainable. A large number of European countries early entrepreneurs with international standards and the resulting emergence of overseas commerce developed in large part due to this. The author believes that the current Chinese state-owned enterprises reform, pay attention with an innovative system of monetary income, equity, housing, welfare and so on a comprehensive package of economic interests and employees (especially entrepreneurs) to contribute to the performance closer together and to be protected is extremely important. Economies in transition period for China, both should see a considerable part of the population quality is poor, the working population of this grim fact low educational level, but also to see people's initiative and plasticity. Through institutional innovation to strengthen the whole society on investment in human capital, and more emphasis on education and vocational training, the Chinese economy is undoubtedly foster competitive advantage strategic initiatives.#p#分页标题#e# (2) institutional innovation will help to improve the organizational structure, thereby enhancing the international competitiveness of enterprises. To improve the effectiveness of international trade, the need to improve the organizational structure of Chinese enterprises, from a simple idea into a comprehensive trading market intervention modern international marketing concepts, the establishment of information sources is accurate, smooth channels, reflecting the sensitivity of the international marketing network, only from the original to sell to middlemen, re-exporters, into the product sold directly to importers, wholesalers, and even large supermarkets and chain stores, and strive to improve the unit export profits. In a market economy conditions, in order to improve the international competitiveness of the enterprise organizational structure for the purpose of evolution need to follow two principles. One is the principle of property rights. Organizational structure to carry out self-evolution of the fundamental conditions and the logical starting point is to allow and encourage economic entities (including corporate and individual) for their own pursuit of legitimate interests and to contribute to people through the system of effort to get the legitimate interests be maintained . Without which, the pursuit of economic agents will lose power to reduce transaction costs, organizational structure lifeblood of self-evolution will be blocked. Property rights will help Chinese enterprises in the fierce competition in the international market, in order to obtain greater benefits while continuing to explore establishing a better save transaction costs, production costs and organizational costs of the new organizational structure. The second is the guiding principle of the efficiency of asset reorganization. In a market economy, whether it is trust or concern, which forms the main motivation is to improve people's pursuit of economic efficiency. For a large number of small and medium enterprises to participate in international trade, the possible options or contracts, etc. will own marketing activities into large enterprises (group) of the operating system, but also by chambers of commerce, trade associations and other institutions to establish mutual support, supplement, service lateral contact to form a "group effect" (clustering), thereby greatly reducing the transaction costs involved in international business and risks, and enhance their international competitiveness. (3) institutional innovation is conducive to better play the guiding role of government, thereby enhancing the international competitiveness of enterprises. 50 years after World War II economic history shows that the government is no longer Smith significance of the "night watchman." Lewis has pointed out that "no one country is not in the active stimulation of wise government for progress." For China, through institutional innovation and deepening economic reform, accelerate the transformation of government functions, thereby enhancing the international competitiveness of enterprises can accomplish a great deal. First, China is a developing country, generally underdeveloped, but the local perspective, there are still economically more developed regions. As long as the government to actively guide and support, can make these areas to become the first high-tech has a powerful attraction for developed regions. These areas can take advantage of developed countries' exports of high-tech products and technology transfer opportunities, accelerate the introduction of advanced and applicable technologies developed and to be absorbed, digested and innovation, combined with the country's resources, conduct scale of operations, reduce costs, improve exports added value, in order to strive for greater comparative advantage. Second, the government can increase the economic opening up their efforts to improve the quality of already owned by the elements. For example, the development of foreign trade can not only bring in more and digestion and absorption of foreign advanced technology, and thereby enable domestic enterprises to grasp more on the international market and trade information, learn more about foreign technology, production and market demand situation, feeling the pressure of international competition, encouraging technological innovation increased. This high-tech change and update speed, short product life cycles, modern context is particularly important. Third, the government can be based on "narrow moving belt" (The Narrow Moving Band) principles, as accurately as possible to select a specific key industries to be appropriate policy support. The course of economic development around the world shows that the competitive advantage of high-tech industries tend to be people trying founded, rather than innate, high-tech industries in support of the government on the issue can be avoided through careful decision-making mistakes. Generally, any one government in the choice of those who represent the future direction of key industries, such as computers, telecommunications, biotechnology and other industries occurred less likely incomplete information. Therefore, governments around the world to support most of these industries. Once this type of industry to be successful, usually produces a wide range of external economies, and can occupy the corresponding international market share. This strategy is not the focus of trade policy to protect infant industries in general, but in the field of key industries to create comparative advantage. Of course, the government's "protection" must be temporary, positive efforts to promote enterprise must compete together, but should be possible to obtain the understanding of other countries. Meanwhile, the government should strive to improve the market economic system, and provide a good external business environment. It should be noted that the state is the trend in the international economy can not be ignored important economic subjects, the differences between countries, government efficiency differences can also be included in the scope of a country's comparative advantage, while a profound impact on international trade. For the period of economic restructuring in the countries, accelerate economic restructuring and transformation of government functions, which itself should constitute an important part of institutional innovation, Today, although the deepening of economic globalization, but as long as the nation exists, international trade would not be completely free. As the international market is not perfectly competitive economies of scale and modern enterprise exist, and the system is again people create and constrain people's rules of the game, therefore, system innovation not only make China better use of its existing comparative advantage, and also launch its potential comparative advantage. We believe that, with encouraging innovation system itself is a function has not yet been fully recognized and understood comparative advantage. |
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