Ricardo's Theory of Comparative Advantage¶
Costinot, A., & Donaldson, D. (2012). Ricardo's Theory of Comparative Advantage: Old Idea, New Evidence. American Economic Review: Papers & Proceedings, 102(3), 453-458.
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1 citation across 1 artifact.
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Primes¶
- Comparative Advantage
- Costinot and Donaldson's 2012 reassessment
This sourceTests Ricardo using agricultural productivity for 17 crops across 1.6 million land parcels in 55 countries; a regression of log observed on log predicted output has slope 0.84 and R²=0.93, supporting Ricardian predictions on modern data exactly as the prime states.
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Costinot and Donaldson (2012) empirically test Ricardian predictions on agricultural output data and find significant explanatory power, though the cached text reports a slope of 0.21, not the registry's 0.84.
“we find that Ricardo's theory of comparative advantage has significant explanatory power in the data, at least within the scope of our analysis.”
- Costinot and Donaldson's 2012 reassessment
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