The Kravis Theory of Trade (With Weaknesses) | International Economics

In this article we will discuss about the Kravis theory of trade along with its weaknesses. An important extension of international trade theory given by Heckscher and Ohlin is the availability approach to international trade. This approach was given by Irving B. Kravis in 1956. According to Kravis, it is the domestic availability or non-availability of goods that governs the [...]