| The results indicate that freight rate positively influences both the product market and the factor market. |
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| Answers will vary because resource owners are anyone who has land, labor, capital or entrepreneurship to sell in the factor market. |
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| But little did we say about different forms of a factor market or about its mechanism of determining factor prices. |
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| In the absence of factor market reforms, labor productivity in agriculture is much lower than that in nonagriculture rural industry, which is in turn lower than urban labor productivity. |
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| In addition, we examine the robustness of our main results with respect to alternative factor market assumptions relevant to the Thai economy. |
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| More importantly, throughout this paper, we do not discuss a fully factor market integration. |
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| In China, for instance, there is still the need to liberalize the factor market, especially in the land and labor market. |
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| Using the strategic factor market theory as a guide, this paper explores the conditions under which technology acquirers capture value by generating unique synergies with the target. |
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