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Recent research has documented a U-shaped industrial concentration curve over an economy's development path. How far can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher-Ohlin model using industry data on 44 developed and developing...
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The growth in the trade share of output is one of the most important features of the world economy since World War II …
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The striking growth in the trade share of output is one of the most important developments in the world economy since … World War II. Two features of this growth present challenges to the standard trade models. First, the growth is generally …
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