Trade Impacts of Soviet Reform: A Heckscher-Ohlin-Vanek Approach
Dermot J. Hayes, Alexander Kumi, Stanley R. Johnson
April 1994 [94-GATT 19]
Hayes, D.J., A. Kumi, and S.R. Johnson. 1994. "Trade Impacts of Soviet Reform: A Heckscher-Ohlin-Vanek Approach." CARD paper 94-GATT 19. Center for Agricultural and Rural Development, Iowa State University.
The Heckscher-Ohlin-Vanek (HOV) equations used in this paper provide a feasible method for projecting longer-run trade patterns of the Former Soviet Union, one that does not depend on elasticities or the optimality of existing resource use. The authors contrast forecasted and actual trade patterns and compare their results with those of other studies.