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Chap 3

Chapter 3 of 'International Economics' discusses the sources of comparative advantage, focusing on factor endowments and their impact on trade. It explains the Heckscher-Ohlin theory, which posits that resource endowments determine a nation's comparative advantage, and explores the implications of trade on income distribution. The chapter also examines the effects of globalization on labor markets, particularly in the context of U.S.-China trade relations.

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Chap 3

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International

Economics
Nineteenth Edition
Chapter 3: Sources of
Comparative Advantage

Robert J. Carbaugh, International Economics, Nineteenth Edition. © 2026 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or
posted to a publicly accessible website, in whole or in part. 1

Chapter Objectives
After completing this chapter, you should be able to:
3.1 Explain how factor endowments can act as a source of comparative
advantage.
3.2 Describe how specific factors can affect the distribution of national income.
3.3 Differentiate between internal economies of scale and external economies of
scale.
3.4 Analyze factors that affect comparative advantage, including overlapping
demand patterns, technology, and transportation costs.
3.5 Discuss the interaction of industrial policy and dynamic comparative
advantage.

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1
3-1
Factor Endowments as a Source of Comparative
Advantage

The Factor-Endowment Theory (1 of 2)

• The factor-endowment theory

• Also known as the Heckscher–Ohlin theory
• Developed by Bertil Ohlin based on work by his teacher, Eli Heckscher
• Heckscher and Ohlin maintained that factor (resource) endowments
determine a nation’s comparative advantage

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 2
The Factor-Endowment Theory (2 of 2)

• Theory asserts that the immediate basis for trade is the difference between the
pre-trade relative product prices of trading nations

• Pre-trade prices depend on production possibilities

• Capital-labor ratio determines comparative advantage

• Country exports good using relatively abundant resource

• Country imports good using large amount of relatively scarce resource

Table 3.1 Producing Aircraft and Textiles:

Factor Endowments in the United States and
China
Resource United States China
Capital 100 machines 20 machines
Labor 200 workers 1,000 workers

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 3
Effect of Resource Endowments on
Comparative Advantage

Figure 3.1 Capital Stock at Constant National Prices for

the United States, 1950–2019 (millions of 2017 U.S.
dollars)

*U.S. recessions denoted by shaded areas.

Source: University of Groningen and University of California, Davis, Capital Stock at Constant National Prices for United States [RKNANPUSA666NRUG], retrieved
from FRED, Federal Reserve Bank of St. Louis; [Link] October 19, 2023.

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 4
Visualizing the Factor-Endowment Theory

Explains Does Not Explain

• Why labor abundant countries export • Why two-way trade widely exists
labor-intensive products such as • Many countries export steel and
textiles automobiles, but they also import
• Why capital abundant countries them
would export aircraft and machinery • Why wealthy countries that have
similar endowments (labor and
capital) trade more intensively with
those with dissimilar endowments

Figure 3.2 The Factor-Endowment Theory

A country exports the good whose production is intensive in its relatively abundant factor.
It imports the good whose production is intensive in its relatively scarce factor.

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5
3-2
Applying the Factor-Endowment Theory to U.S.–
China Trade

Table 3.2 U.S. Trade With China in 2022, Top 5

Products (millions of dollars)
U.S. Exports to China, Top 5 Products U.S. Imports From China, Top 5 Products
Oilseeds and grains 25,372 Communications 65,519
equipment
Semiconductors and 11,244 Computer equipment 63,873
other electrical
components
Oil and gas 11,096 Manufactured 51,476
commodities
Pharmaceuticals and 10,916 Electrical equipment and 21,748
medicines components
Basic chemicals 6,786 Household appliances 19,996
and machines

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6
China as the World’s Factory Floor

• Law of supply and demand suggests that because the supply of Chinese
workers exceeds the demand for workers, wages will remain low
• However, China’s wage levels are rising and its status as the “world’s factory
floor” depends on other factors, such as:
• a strong business ecosystem
• lower regulatory compliance
• competitive currency practices

Chinese Manufacturers Beset by Rising

Wages
• Developing labor shortage and rising wages because of:
• one-child policy
• land policies that discourage migration
• Higher wages not sufficient to cause firms to leave China
• Has the world’s best supply chains of parts and components for many
industries
• An infrastructure that works well
• A huge market in its own right

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 7
India: A Rival to China as the World’s Factory
Floor?
• Attractiveness as a production center • India faces hurdles that have delegated it as
reinforced by a minor player in global supply chains
• size of labor force and domestic market • Labor force is mainly unskilled and poor
• Western governments considering • Infrastructure is undeveloped
democratic India as a natural business • Government regulations and business
partner climate can be onerous
• Indian government making business
environment more friendly
• location of industrial parks in cities
• multinational corporations seeking an
alternative to China

Discussion Activity

Globalization Drives Changes for U.S. Automakers

• What do you think? Is it the responsibility of the U.S. government to

provide tariff protection for American auto producers?

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 8
3-3
Factor-Price Equalization: The Stolper–
Samuelson Theorem

Factor-Price Equalization: The Stolper–

Samuelson Theorem (1 of 3)
• Trade redirects demand away from relatively expensive, scarce resource toward
relatively cheap, abundant resource in each nation
• Cheap resource becomes relatively more expensive
• Expensive resource becomes relatively cheaper
• Eventually, factor-price equalization occurs as globalization evens things out
• No full factor-price equalization exists in real world

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 9
Factor-Price Equalization: The Stolper–
Samuelson Theorem (2 of 3)
• Extension of factor-price equalization theory
• Export of product that embodies large amounts of relatively cheap, abundant
resource makes resource scarcer, driving up its price/income
• Import of product that embodies large amounts of relatively expensive,
scarce resource makes resource less scarce, driving down its price/income
• Thus, the increase in the income to each country’s abundant resource
comes at the expense of the scarce resource’s income

Factor-Price Equalization: The Stolper–

Samuelson Theorem (3 of 3)
• Policy implications
• Theorem suggests that even though free trade may provide overall gains for
a country, there are winners and losers
• Owners of abundant resources tend to favor free trade, while owners of
scarce factors tend to favor trade restrictions

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 10
Figure 3.3 The Factor-Price Equalization
Theory
By forcing product prices into
equality, international trade
also tends to force factor
prices into equality across
countries.

3-4
Specific-Factors Theory: Trade and the
Distribution of Income in the Short Run

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 11
Specific-Factors Theory: Trade and the
Distribution of Income in the Short Run (1 of 2)
• Specific factors are factors that cannot move easily from one industry to another
• The specific-factors theory analyzes the income distribution effects of trade in
the short term, when resources are immobile among industries
• Resources specific to import-competing industries lose as a result of trade
• Resources specific to export industries gain as a result of trade

Specific-Factors Theory: Trade and the

Distribution of Income in the Short Run (2 of 2)
• Worker Specificity
• Manufacturing workers often possessed skills specific to their companies
• Many lacked college education, limiting their job prospects in other industries
• Resulted in occupational immobility
• Geographic and Personal Constraints
• Workers were often tied to their families and considered too old to relocate
• Resulted in geographical immobility
• These workers faced falling incomes and rising unemployment

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 12
Does Trade With China Take Away Blue-
Collar American Jobs?
• Economists David Autor, David Dorn, and Gordon Hanson found that
international trade has significantly disrupted some regional economies in the
United States
• Increase in American imports significantly affected wages and employment
in the parts of the United States that produce goods that compete with China
• Adjustment in America’s regional labor markets has been slow for at least a
decade after China’s trade shock emerged
• Wages and labor-force participation rates remained depressed and
unemployment rates remained elevated

Does Trade Exacerbate Wealth Inequality?

• Economists agree that some combination of trade, technology, education,
immigration, and union weakness has held down wages for unskilled American
workers
• International trade and technological change increase demand for skilled
workers
• Immigration decreases supply of skilled workers relative to unskilled workers
• Education and training opportunities reduce wage inequality between skilled
and unskilled workers
• Union weakness increases the wage inequality between unskilled workers
and skilled workers

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 13
Artificial Intelligence: Transforming the
World(1 of 2)
• Artificial intelligence (AI) is a set of technologies that makes machines or
computers as intelligent as human beings
• Some applications:
• AI can improve warehouse management, demand forecasting, and improve
accuracy of just-in-time manufacturing and delivery
• Robotics can improve productivity and efficiency in inventory and packing
inspection
• Manufacturing firms can streamline production operations, improve product
quality, reduce repetitive jobs, and decrease unit costs
Robert J. Carbaugh, International Economics, Nineteenth Edition. © 2026 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or
posted to a publicly accessible website, in whole or in part. 27

Artificial Intelligence: Transforming the

World(2 of 2)
• AI presents concerns:
• Will machines become so sophisticated that humans will fall behind?
• Machines may be able to hack into private data and threaten security
• How will AI affect human employment by creating intelligent machines that make
people’s skills obsolete?
• AI technology can be very costly to develop and implement
• AI requires sophisticated technical expertise and qualified workers to build and
operate AI tools

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 14
3-5
Economies of Scale and Comparative Advantage

Internal Economies of Scale

• Economies of Scale
• Exist when the expansion of the scale of production capacity of a firm or
industry causes total production costs to increase less proportionately than
output
• Long-run average costs of production decrease
• Internal Economies of Scale
• Provide additional cost incentives for specialization in production
• Countries will specialize in products that have a large domestic demand
(home market effect)

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15
Figure 3.4 Internal Economies of Scale as a
Basis for Trade
By adding to the size of the domestic market, international trade permits longer
production runs by domestic firms, which can lead to greater efficiency and
reductions in unit costs.

External Economies of Scale (1 of 2)

• External economies of scale exist outside firm and within industry

• When firm’s average costs decrease as industry’s output increases, the cost
reduction could be caused by decrease in resource prices or amount of
resources per output

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 16
External Economies of Scale (2 of 2)

• External economies of scale can occur in several situations:

• Concentration of industry’s firms in geographic area attracts large pool of
specialized workers, reducing the cost of hiring for a firm
• New knowledge of production technology spreads among firms in area
• Expanding industry is source of growth and tax revenues for a country with
an expanding industry
• Component suppliers cluster close to manufacturing center, increasing
access to specialized inputs

3-6
Overlapping Demands as a Basis for Trade

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 17
Overlapping Demands as a Basis for Trade (1
of 3)
• According to Staffan Linder, the factor-endowment theory

• has significant explanatory power for trade in primary products such as

natural resources and agricultural goods

• does not explain trade in manufactured goods because main force

influencing manufactured-good trade is domestic demand conditions

Overlapping Demands as a Basis for Trade (2

of 3)
• The Linder hypothesis explains which nations will most likely trade with each
other
• Nations with similar per capita incomes will have overlapping demand structures
and will likely consume similar types of manufactured goods
• Wealthy (industrial) nations are more likely to trade with other wealthy
nations
• Poor (developing) nations are more likely to trade with other poor nations
• The potential for trade in manufactured goods is small when the extent of
demand overlap is small

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 18
Overlapping Demands as a Basis for Trade (3
of 3)
• Linder’s theory is in rough accord with the facts

• A high proportion of international trade in manufactured goods takes place

among the relatively high-income (industrial) nations

• Linder’s theory is not borne out by developing country trade

• The bulk of lower-income, developing countries tend to have more trade with
high-income countries than with lower-income countries

3-7
Intra-Industry Trade

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 19
Intra-Industry Trade (1 of 2)

• Inter-Industry Trade
• Exchange between nations of products of different industries
• Based on inter-industry specialization
• Between nations having vastly different resource endowments
• Can be explained by the principle of comparative advantage (the factor-
endowment model)

Intra-Industry Trade (2 of 2)

• Intra-Industry Trade
• Two-way trade in a similar product
• Occurs in homogeneous goods as well as in differentiated products
• Is emphasized by advanced industrial nations
• Incompatible with models of comparative advantage

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 20
Table 3.3 Intra-Industry Trade Examples: Selected
U.S. Exports and Imports, 2022 (in Millions of
Dollars)
Category Exports Imports
Food and beverages 179,906 208,315
Industrial supplies 830,805 808,679
Capital goods 572,740 863,670
Automotive 159,654 398,869
Consumer goods 245,692 841,580

3-8
Technology as a Source of Comparative
Advantage: The Product Cycle Theory

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 21
Technology as a Source of Comparative
Advantage: The Product Cycle Theory (1 of 3)
• Nations differ in rates of technological innovation
• Result in:
• New methods of producing existing commodities
• Production of new commodities
• Commodity improvements
• Often transitory

Technology as a Source of Comparative

Advantage: The Product Cycle Theory (2 of 3)
• The stages that many manufactured goods go through comprise the following:

1. Manufactured good is introduced to home market

2. Domestic industry shows export strength

3. Foreign production begins

4. Domestic industry loses competitive advantage

5. Import competition begins

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 22
Technology as a Source of Comparative
Advantage: The Product Cycle Theory (3 of 3)
• Implications for innovating countries such as the United States

• Gains from trade for the United States are significantly determined by:

• Dynamic balance between its rate of technological innovation

• Rate of its technological diffusion to other countries

• Share of the gains from trade will decrease unless the United States can
generate a pace of innovation to match the pace of diffusion

Swiss Watches and the Product Life Cycle

• Swiss watch manufacturers were forced to reorganize production because of

foreign competition and quartz technology
• Many Swiss companies consolidated
• Mass production methods were adopted
• Production of some watch components was outsourced
• Watch manufacturers took refuge in the higher end of the market
• Despite these adjustments, Swiss watch sales continued to decline

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23
3-9
Dynamic Comparative Advantage: Industrial Policy

Dynamic Comparative Advantage: Industrial

Policy (1 of 2)
• Government can establish policies to promote opportunities for change through
time
• Comparative advantage in particular industry can be created through
• Mobilization of skilled labor
• Technology
• Capital

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 24
Dynamic Comparative Advantage: Industrial
Policy (2 of 2)
• A strategy to revitalize, improve, and develop an industry

• Encourage development of emerging “sunrise” industries

• Direct resources to industries in which productivity is highest, linkages to the

rest of the economy are strong, and future competitiveness is important

• Examples are antitrust immunity, tax incentives, R&D subsidies, loan

guarantees, low-interest-rate loans, trade protection

World Trade Organization Rules That Illegal

Government Subsidies Support Boeing and Airbus
• Oligopolistic market dominated by Boeing (US) and Airbus (EU) with emerging
competition from Canada, Brazil, China, and others
• Subsidy Controversy
• US complaints against EU subsidies to Airbus
• EU defense: preventing U.S. monopoly, ensuring European autonomy
• Recent Developments
• June 2021: U.S.-EU agreement to suspend trade dispute for 5 years
• Focus shift to addressing China's state-owned COMAC and C919 aircraft

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 25
3-10
Government Regulatory Policies and Comparative
Advantage

Government Regulatory Policies and

Comparative Advantage (1 of 2)
• Governments impose regulations to pursue goals such as workplace safety,
product safety, and environmental protection
• In the U.S., key regulatory agencies include OSHA, CPSC, and EPA
• Regulations can improve public well-being but may increase costs for domestic
firms
• Impact on Competitiveness
• Regulatory burdens can impair competitiveness and trade prospects
• Affects both export- and import-competing firms
• Can lead to job losses and policy concerns

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 26
Government Regulatory Policies and
Comparative Advantage (2 of 2)
• U.S. Steel Industry
• U.S. steel producers face regulatory burdens affecting competitiveness
• Environmental regulations increase production costs
• Policy Trade-offs
• Environmental regulations lead to cleaner air and water
• Improved quality of life for American households
• Potential benefits for other industries (e.g., forestry products)
• Increased dependence on foreign-produced steel

Figure 3.5 Trade Effects of Governmental

Regulations
The imposition of government regulations (clean environment, workplace safety, and product
safety) on U.S. steel companies leads to higher costs and a decrease in market supply. This
imposition detracts from the competitiveness of U.S. steel companies and reduces their share of
the U.S. steel market.

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 27
3-11
Transportation Costs and Comparative Advantage

Trade Effects of Transportation Costs (1 of 2)

• A strategy to revitalize, improve, and develop an industry

• Encourage development of emerging “sunrise” industries

• Direct resources to industries in which productivity is highest, linkages to the

rest of the economy are strong, and future competitiveness is important

• Examples are antitrust immunity, tax incentives, R&D subsidies, loan

guarantees, low-interest-rate loans, trade protection

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 28
Trade Effects of Transportation Costs (2 of 2)

• High-cost importing country

• Produce more, consume less, and import less
• Low-cost exporting country
• Produce less, consume more, and export less

Figure 3.6 Free Trade Under Increasing-Cost

Conditions
In the absence of transportation costs, free trade results in the equalization of prices of traded goods, as well as resource
prices, in the trading nations. With the introduction of transportation costs, the low-cost exporting nation produces less,
consumes more, and exports less; the high-cost importing nation produces more, consumes less, and imports less. The
degree of specialization in production between the two nations decreases, as do the gains from trade.

• Falling transportation

• Global economy is less transport intensive

• Productivity improvements for transporting goods

• Rising shipping costs suggest that trade dampened/diverted while looking for
shorter, less costly routes

How Containers Revolutionized the World of

Shipping
• Malcom McLean's idea changed where things are made and how countries
trade
• Revolutionized global trade and manufacturing
• Created demand for technologically efficient ports
• Malcom McLean's Innovation
• Founded Sea-Land Shipping Company in late 1950s
• Introduced containerization concept
• Envisioned efficient system: one container for ship, train, and truck
• Cost reduction: $5.90 per ton (1956) to $0.16 per ton (early 1960s)

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 30
The Port of Prince Rupert: Shifting
Competitiveness in Shipping Routes
• The Port of Prince Rupert is situated in western British Columbia
• Key Advantages
• Closest North American port to Asia
• Almost three days closer to China by boat compared to Los Angeles
• One of the world's deepest natural ice-free harbors
• Competitive Edge Over U.S. Ports
• Avoids U.S. federal harbor maintenance tax ($25–$500 per container)
• Less affected by labor disputes and worker slowdowns
• Reduced congestion compared to U.S. West Coast ports

What Hinders U.S. Ports From Automating?

• The U.S. has been slow to adopt automated port technologies

• Europe and Asia began implementing automation in the 1990s
• U.S. started a decade later at the Port of Virginia
• Hurdles to Automation in U.S. Ports
• Space constraints
• High costs
• Labor opposition
• Cybersecurity risks

©2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 31
Table 3.4 Average Container Moves Per Hour
at Major Ports, 2023
Port Average Container Moves Per Hour*
Shanghai, China 113.5
Abu Dhabi, United Arab Emirates 80.0
Singapore 68.3
Los Angeles, Long Beach, California 57.9
New York, New Jersey 57.6
Antwerp, Belgium 52.6
Felixstowe, U.K. 47.4
Rotterdam, Netherlands 46.8
Vancouver, Canada 41.4
Savannah, Georgia 30.8
Oakland, California 25.2

Self-Assessment

• What are the major sources of comparative advantage?

• What is the impact of transportation costs on trade patterns?

Click the link to review the objectives for this presentation.

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