On the theory of east-west trade under uncertainty

Yasunori Ishii*

*この研究の対応する著者

研究成果: Article査読

1 被引用数 (Scopus)

抄録

Taking the final stage of the existing socialist economy as the labormanaged economy, this paper establishes a model of East-West trade between a capitalist economy and a labor-managed economy, both of which face asymmetric technological uncertainty. The model reflects the facts that the securities markets for firms' ownership shares exist only in the capitalist economy and that the firm's objective function in the capitalist economy is different from that in the labor-managed economy. It also considers the existence of international forward markets for commodities as international risk-sharing arrangements. Thus, the paper shows that all the basic theorems in traditional trade theory (Factor Price Equalization, Heckscher-Ohlin, Stolper-Samuelson and Rybczynski) carry over to the uncertain environments characterized by different types of economies.

本文言語English
ページ(範囲)267-283
ページ数17
ジャーナルJournal of Economics Zeitschrift für Nationalökonomie
52
3
DOI
出版ステータスPublished - 1990 10月
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学
  • ビジネス、管理および会計(全般)

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