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Complete specialization |
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Complete specialization1. Non-production of some of the goods that a country consumes, as in definition 2 of specialization. 2. Production only of goods that are exported or nontraded, but none that compete with imports. 3. Production of only one good. 4. Being the only country in the world to produce a good.Similar MatchesIncomplete specializationIncomplete specializationProduction of goods that compete with imports. SpecializationSpecialization1. Producing more than you need of some things, and less of others, hence "specializing" in the first. In international trade, this is just the opposite of self-sufficiency. 2. Doing less than everything, as when a country produces fewer different goods than it consumes. In a 2x2 trade model, this means each country produces just one good. With many goods and countries, it means each country has some goods that it does not (and cannot competitively) produce. Also may be called complete specialization. Intra-product specializationIntra-product specializationAnother term for fragmentation. Used by Arndt (1997). Pattern of specializationPattern of specializationWhich goods a country produces and which it does not produce. Vertical specializationVertical specializationAnother term for fragmentation. Used by Hummels, Rapoport, and Yi (1998). |
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