Wealth as a Determinant of Comparative Advantage
发现，当不同行业获得信贷的难度不同时，一国财富可以成为比较优势的重要决定因素。富裕国家在面临更严重金融不完善的行业生产的产品上具有比较优势，这些行业通常由小企业组成且劳动密集，这解释了部分传统比较优势的偏差。
This paper shows that a country’s wealth can be an important determinant of comparative advantage when access to credit differs across sectors of the economy. Wealthier nations exhibit a comparative advantage toward goods produced in sectors facing more severe financial imperfections. These sectors are typically populated by small firms. Empirically this paper documents that these sectors are also labor intensive. Consequently, this theory partially offsets traditional sources of comparative advantage and offers an explanation for Trefler’s missing trade mystery and the Leontief paradox. Furthermore, the theory makes the relation between trade and income distribution endogenous.