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References in periodicals archive ?
The explanation is the following: in the initial situation the factor price equalization theorem holds, and, as previously proved, capital grows everywhere at the same pace.
Regarding the factor price equalization theorem, John Hicks considered two sets of equations for two countries, namely, ar + bw = ar'+ bw', and cr + dw = cr' +dw'.
International trade is introduced and general equilibrium yields the factor price equalization theorem. So far so good.