Abstract
The authors perform a fully specified test of the Heckscher-Ohlin-Vanek (HOV) multifactor content theorem of international trade in the context of a rapidly industrializing economy, the Republic of Korea, in 1970 and 1980. The test involves a comparison of independent measures of relative factor endowments with endowment rankings revealed by Korea's international trade and total factor intensities. Interest arises in this effort because Korea's industrialization presents a new set of circumstances in which to test the Heckscher-Ohlin-Vanek theorem. The results strongly suggest that the revealed factor endowments departed significantly from actual factor supplies. The authors discuss potential reasons for this divergence. Copyright 1993 by MIT Press.
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