International Trade Patterns

Ricardian Model and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of Ricardian Model: A theory for explaining international trade patterns in terms of technological differences among countries and resulting differences in their productivity. Named after the nineteenth-century British economist, David Ricardo. See Heckscher- Ohlin Trade Model.

Heckscher-Ohlin Model and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of Heckscher-Ohlin Model: A theory for explaining international trade patterns in terms of differences in countries' supplies of productive factors (e.g., human and physical capital, raw material resources). The model was named for Swedish economists Eli Heckscher and Benil Ohlin. See also Ricardian Model.