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These shifts in time and identification sometimes confuse the scope (historical and geographic) of Oriental Studies. Yet there remain contexts where "the Orient" and "Oriental" have kept their older meanings (e.g., "Oriental spices" typically are from the regions extending from the Middle East to sub-continental India to Indo-China).
Traditional trade models relied on productivity differences (Ricardian model of comparative advantage) or factor endowment differences (Heckscher–Ohlin model) to explain international trade. New trade theorists relaxed the assumption of constant returns to scale, and showed that increasing returns can drive trade flows between similar ...
The Gravity model of trade presents a more empirical analysis of trading patterns. The gravity model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects ...
This is a timeline of the history of international trade which chronicles notable events that have affected the trade between various countries.. In the era before the rise of the nation state, the term 'international' trade cannot be literally applied, but simply means trade over long distances; the sort of movement in goods which would represent international trade in the modern world.
This trade across the Andean slopes – described sometimes as "vertical trade" – may have overshadowed the long-distance trade between the people of the Andes and the neighboring forests. [33] The Callawaya herbalists traded in tropical plants between 6th and the 10th centuries, while copper was dealt by specialized merchants in the Peruvian ...
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The original H–O model assumed that the only difference between countries was the relative abundances of labour and capital. The original Heckscher–Ohlin model contained two countries, and had two commodities that could be produced. Since there are two (homogeneous) factors of production this model is sometimes called the "2×2×2 model".
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