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International Trade, Labour Migrations and Capital Flows: Long‐Term Evidence for Australia, Canada, the United Kingdom and the United States
Author(s) -
Clarke Harry
Publication year - 1998
Publication title -
international migration
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.681
H-Index - 64
eISSN - 1468-2435
pISSN - 0020-7985
DOI - 10.1111/1468-2435.00052
Subject(s) - economics , openness to experience , free trade , international economics , liberalization , international trade , immigration , globalization , trade barrier , capital (architecture) , factor price , market economy , political science , psychology , social psychology , archaeology , law , history
The historical links between international factor mobility and the extent of international trade are analysed over the long term for three high labour immigration countries (Australia, Canada and the United States) and one high labour emigration country (the United Kingdom). Time series data are used. Current international openness is assessed relative to this experience. International factor market integration has increased over time with trade liberalization, suggesting that traditional Hecksher‐Ohlin thinking cannot be readily used to account for long‐term trends in several important economies. Both trade and factor mobility have an episodic character that makes it misleading to assess current international openness only in terms of post‐World War 2 economic trends.