A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

We construct a dynamic, two-country model of trade and growth in which endogenous technological progress results from the profit-maximizing behavior of entrepreneurs. We study the role that the ...

The paper formally integrates Ricardo's two-sector growth model with his theory of comparative advantage. Differences with conventional representations of Ricardian trade theory, as well as with ...