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Hi, I'm trying to explain why Russia is considered a labour-abundant country while 75% of its exports (in 2017) came from capital-abundant industries i.e. oil,
Hi,
I'm trying to explain why Russia is considered a labour-abundant country while 75% of its exports (in 2017) came from capital-abundant industries i.e. oil, gas and metals. I can't seem to find an explanation.
Does H-O theorem stand true for Russia? Russia is labour-abundant and exports capital intensive goods, yet is also imports capital intensive goods. Is this explained via comparative advantage?
Thank you.
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