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Do endowments predict the location of production? Evidence from national and international data
By : Jeffrey R. Bernstein , David E. Weinstein, ELSEVIER (dew35@columbia.edu (D.E. Weinstein))
Created : 2010-07-01, with 1 files
Keyword : endowments, predict,location, production, national, international, data
Url : http://www.elsevier.com/ locate/ econbase
Examining the relationship between factor endowments and production patterns using
data from Japanese prefectures and from OECD nations, we find evidence of substantial
production indeterminacy. Regressions of outputs on endowments yield prediction errors six
to 30 times larger for goods traded relatively freely than for non-traded goods. We argue
that a compelling explanation for these results is the existence of more goods than factors in
the presence of trade costs. If so, regressions of trade or output on endowments have weak
theoretical foundations. Furthermore, since errors are largest in data sets where trade costs
are small, we explain why the common methodology of imputing trade barriers from
regression residuals has produced counterintuitive results. 2002 Elsevier Science B.V.
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