Jošić, Hrvoje; Žmuk, Berislav - In: European journal of comparative economics 20 (2023) 2, pp. 193-221
The factor proportions model, also known as the Heckscher-Ohlin model, is the main neoclassical model of international trade theory. It was developed by Swedish economists Eli Heckscher and Bertil Ohlin in 1920s and 1930s. According to the factor proportions model a country should specialize in...
