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The Integration of New Structural Economics and New Classical Economics:An Extended Model of Comparative Advantage Theory

Zheng Wenbo;  
Based on new classical economics,this paper builds a comparative advantage model that includes endogenous and exogenous technologies,resource endowments,and transaction efficiency,which provides a new way of thinking and mathematical analysis for the development of comparative advantage theory,and explores the integration of comparative advantage theory in two different fields of new classical economics and new structural economics. The study finds that:( 1) the above four comparative advantages together determine the relative comparative advantages. In developing countries,not only resource endowment structure determines the optimal industrial,product and technological structure,but also the transaction cost is a decisive factor.( 2) New Structural Economics focuses on developing countries with lower technology and confines comparative advantage to resource endowment. Its essence does not conflict with the theory of multi-factor comparative advantage theory,but it needs to establish a more general theoretical framework.( 3) Developing countries should choose advanced economies with similar endowment structure to imitate,so as to reduce the difficulty of surpassing the resource endowment advantages of advanced countries and form more obvious advantages than advanced economies.
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