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Property rights, mobile capital, and comparative advantage

Property rights, mobile capital, and comparative advantage
Property rights, mobile capital, and comparative advantage
Recent papers show that imperfect property rights to a natural resource – a sector-specific factor–can be a source of comparative advantage. In these models, weaker property rights attract labor–the only mobile factor – to the resource sector, increasing the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration of property rights has ambiguous effects on comparative advantage and on the equilibrium wage/rental ratio.
imperfect property rights, comparative advantage, general equilibrium
0304-3878
367-387
Karp, Larry S.
aeaa7666-ca88-4f47-85c5-81043cdd8e8a
Karp, Larry S.
aeaa7666-ca88-4f47-85c5-81043cdd8e8a

Karp, Larry S. (2005) Property rights, mobile capital, and comparative advantage. Journal of Development Economics, 77 (2), 367-387. (doi:10.1016/j.jdeveco.2004.05.004).

Record type: Article

Abstract

Recent papers show that imperfect property rights to a natural resource – a sector-specific factor–can be a source of comparative advantage. In these models, weaker property rights attract labor–the only mobile factor – to the resource sector, increasing the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration of property rights has ambiguous effects on comparative advantage and on the equilibrium wage/rental ratio.

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More information

Published date: 2005
Keywords: imperfect property rights, comparative advantage, general equilibrium

Identifiers

Local EPrints ID: 39698
URI: https://eprints.soton.ac.uk/id/eprint/39698
ISSN: 0304-3878
PURE UUID: 3403fdef-060c-4c81-9126-797b61a66615

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Date deposited: 29 Jun 2006
Last modified: 17 Jul 2017 15:35

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