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Essence Of International Trade Theory, The (Hardcover)
Loot Price: R2,649
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Essence Of International Trade Theory, The (Hardcover)
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This textbook aims to explain the principles in international trade
theory and show how some useful trade models work. The book
concentrates on two fundamental issues in international trade, that
is, the 'determinants of trade patterns' and the 'welfare gains
from trade' in various economic environments. Chapters 1 through 3
assume perfect competition and explore the workings of the
Ricardian model, the Heckscher-Ohlin-Samuelson model, the Specific
Factors model and more recent development of the Eaton-Kortum
model. Chapter 4 examines various welfare criteria and their
relation to the 'social utility function' and, then, proves the
basic gains-from-trade proposition. Chapters 5 and 6 examine the
implications of imperfect competition using a unified oligopolistic
model and variations of the monopolistically competitive model. The
roles of the strategic interaction among firms, the economies of
scale, product differentiation, the heterogeneity of firms, and the
geographic distribution of agents will be highlighted. Chapter 7
deals with some trade policy issues such as the effects of tariffs,
the relation of tariffs to other policy measures, and the so-called
strategic trade policies.
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