Comparative advantage of various regions in the world economy

Rashid, Al-Boainin Mubarak: Comparative advantage of various regions in the world economy. Review on agriculture and rural development, (2) 1. pp. 498-503. (2013)

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Abstract

The study would like to make comparism in the international comparative advantages for the developing economic structure concerning the capital, skilled and unskilled human resources of the main economies and country-groups in order to realise the sustainable development. According to Salvatore, Dominic, who emphasized some principles of theory of comparative advantage accompanying his opinions, namely most nations would like to realise free trade for themselves in order to get better profit and price incomes and most of them continue to impose many restrictions on international trade. The US has the most favourable Revealed Comparative Advantage in the world economy, even against Japan and EU in field of capital and skilled workers. After the US, Japan has more comparative advantage against the EU. From three highly developed regions the EU is the last one. Based on the country – groups, in United States the capital was 0.11, skilled 0.06 and unskilled -0.30. In European Union capital was 0.03, skilled 0.01, unskilled -0.06, in the same time in Japan capital was 0.07, skilled 0.15 and unskilled was -0.50 according to field of Revealed Comparative Advantages. Also in spite that OPEC countries have somehow little more favourable positions than other developing countries, they have so mush high level of unskilled workers and considerable less skilled workers. In Eastern Europe including Russia, capital was - 0.08, skilled -0.31, unskilled 0.36. In OPEC capital was - 0.09, skilled - 0.29, unskilled 0.45. Their position is little similar than the Eastern Europe, including Russia, in filed of Revealed Comparative Advantages. The data show that the highly developed countries can play role for the future sustainable development and economic growth based on the skilled human resources, which help the innovation development. The innovation development can not be realised without skilled human resources. Also free flow of four elements results in decreasing of expanditures of production, including the labour force, as employee, finally takes possibility to achieve higher level of work efficiancy with using skilled workers, advanced technology and R&D – research and development - to ensure competitive position either on the world market or local markets.

Item Type: Article
Journal or Publication Title: Review on agriculture and rural development
Date: 2013
Volume: 2
Number: 1
Page Range: pp. 498-503
ISSN: 2063-4803
Uncontrolled Keywords: Világgazdaság
Additional Information: Bibliogr.: 503. p. ; Összefoglalás angol nyelven
Date Deposited: 2018. Jun. 19. 10:08
Last Modified: 2018. Jul. 26. 11:14
URI: http://acta.bibl.u-szeged.hu/id/eprint/55306

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