Artis, Michael; Okubo, Toshihiro - Institute of Economic Research, Hitotsubashi University - 2008
traditional (Heckscher-Ohlin) and new
trade (the gravity model) theory, the new economic geography (Fujita, Krugman and
Venables … positive in period 4. Interestingly, we can say that GDP
correlations in period 4 can definitely be explained by the Heckscher-Ohlin … by GDP and simple
distance – New Economic Geography- as represented market potential, and the
Heckscher-Ohlin model …