Journal articles: 'Economic theory of trade'

1

Bliss, Christopher. "THE NEW TRADE THEORY AND ECONOMIC POLICY." Oxford Review of Economic Policy 3, no. 1 (1987): 20–36. http://dx.doi.org/10.1093/oxrep/3.1.20.

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Bagwell, Kyle, and Robert W. Staiger. "An Economic Theory of GATT." American Economic Review 89, no. 1 (March 1, 1999): 215–48. http://dx.doi.org/10.1257/aer.89.1.215.

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We propose a unified theoretical framework within which to interpret and evaluate the foundational principles of GATT. Working within a general equilibrium trade model, we represent government preferences in a way that is consistent with national income maximization but also allows for the possibility of distributional concerns as emphasized in leading political-economy models. Using this general framework, we establish that GATT's principles of reciprocity and non-discrimination can be viewed as simple rules that assist governments in their effort to implement efficient trade agreements. From this perspective, we argue that preferential agreements undermine GATT's ability to deliver efficient multilateral outcomes. (JEL F02, F13, F15)

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Rossi-Hansberg, Esteban. "A Spatial Theory of Trade." American Economic Review 95, no. 5 (November 1, 2005): 1464–91. http://dx.doi.org/10.1257/000282805775014371.

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The equilibrium relationship between trade and the spatial distribution of economic activity is fundamental to the analysis of national and regional trade patterns, as well as to the effect of trade frictions. We study this relationship using a trade model with a continuum of regions, transport costs, and agglomeration effects caused by production externalities. We analyze the equilibrium specialization and trade patterns for different levels of transport costs and externality parameters. Understanding trade via the distribution of economic activity in space naturally rationalizes the evidence on border effects and the “gravity equation.”

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McCrate, Elaine. "Trade, Merger and Employment: Economic Theory on Marriage." Review of Radical Political Economics 19, no. 1 (March 1987): 73–89. http://dx.doi.org/10.1177/048661348701900104.

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Rahim, Sikander. "What use is the Neo-Classical Theory of International Trade?" LAHORE JOURNAL OF ECONOMICS 4, no. 1 (January 1, 1999): 89–114. http://dx.doi.org/10.35536/lje.1999.v4.i1.a7.

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International economic policy is now more under the sway of orthodox economics than it has ever been. The main international economic institutions, the IMF, the World Bank, the WTO, and the major developed economies are unremitting advocates of free trade and impose their views on the developing countries. And the developing countries, whose attempts at economic development through protection have mostly failed, are on the whole inclined to accept these views. Over the last twenty years economic policy in these countries has more and more come to be formulated by orthodox neo-classical economists, often described in the press as “reformers”, who advocate more reliance on markets and less protection against imports.

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Volchkova, N. "New Theory of International Trade and New Economic Geography (Nobel Prize in Economics 2008)." Voprosy Ekonomiki, no. 1 (January 20, 2009): 68–83. http://dx.doi.org/10.32609/0042-8736-2009-1-68-83.

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The paper reviews Paul Krugman’s contributions that earned him Nobel Prize in Economics of 2008 and grounded two fields of economic theory — new theory of international trade and new economic geography. The paper shows how the assumption of internal increasing returns to scale and monopolistic competition borrowed by Krugman from the industrial organization theory changed the conclusions of standard models and enriched our understanding of international trade and spatial distribution of economic activity.

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Urbatsch, Robert. "A Referendum on Trade Theory: Voting on Free Trade in Costa Rica." International Organization 67, no. 1 (January 2013): 197–214. http://dx.doi.org/10.1017/s0020818312000355.

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AbstractResearch on mass opinion in international political economy overwhelmingly relies on survey data. This poses problems of external validity, especially for a frequently low-salience issue such as trade policy. To examine whether survey findings about attitudes toward economic openness apply outside of surveys, this note considers patterns of voting in the 2007 Costa Rican plebiscite about joining the Central American Free Trade Area. Several extant theories appear to explain voting patterns, but the results are less in line with traditional economic models based on locally important economic sectors.

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Bagwell, Kyle, and Robert W. Staiger. "Economic Theory and the Interpretation of GATT/WTO." American Economist 46, no. 2 (October 2002): 3–19. http://dx.doi.org/10.1177/056943450204600201.

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Over the past 50 years, a remarkable degree of trade liberalization has been achieved through GATT/WTO negotiations. In this paper, we describe work that provides a theoretical interpretation of this institution. We emphasize two key features of GATT/WTO: reciprocity and enforcement. We also identify important areas for future research. The work described here contributes to the fields of International Trade and Applied Game Theory.

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Friedman, David D., William M. Landes, and Richard A. Posner. "Some Economics of Trade Secret Law." Journal of Economic Perspectives 5, no. 1 (February 1, 1991): 61–72. http://dx.doi.org/10.1257/jep.5.1.61.

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Despite the practical importance of trade secrets to the business community, the law of trade secrets is a neglected orphan in economic analysis. This paper sketches an approach to the economics of trade secret law that connects it more closely both to other areas of intellectual property and to broader issues in the positive economic theory of the common law.

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10

Copeland, Dale C. "Economic Interdependence and War: A Theory of Trade Expectations." International Security 20, no. 4 (April 1996): 5–41. http://dx.doi.org/10.1162/isec.20.4.5.

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11

Oswald, Andrew J. "The Economic Theory of Trade Unions: An Introductory Survey." Scandinavian Journal of Economics 87, no. 2 (June 1985): 160. http://dx.doi.org/10.2307/3439820.

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Turnbull, Peter J. "The Economic Theory of Trade Union Behaviour: a Critique." British Journal of Industrial Relations 26, no. 1 (March 1988): 99–118. http://dx.doi.org/10.1111/j.1467-8543.1988.tb00740.x.

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Naylor, Robin, and Martin Cripps. "An economic theory of the open shop trade union." European Economic Review 37, no. 8 (December 1993): 1599–620. http://dx.doi.org/10.1016/0014-2921(93)90123-r.

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Vertakova, Yu V. "A review of the current doctrines of regional Economics." Economics and Management, no. 11 (December 19, 2019): 64–73. http://dx.doi.org/10.35854/1998-1627-2019-11-64-73.

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Regional economics received an additional field of research by attempting to combine its provisions with the doctrines of economic growth. The causes and effects of spatial clustering for economic growth are examined in the works of Lichtenberg,Vernon, Hinitz,Marshall, etc. The hypothesis of this study is based on theory of the IDA and the theory of localization economics.Aim. The presented study aims to review the current doctrines of regional economics.Tasks. The author analyzes the classical and modern scientific doctrines in the field of regional economics.Methods. This study uses general scientific methods of cognition, axiomatic, hypothetical, abstraction, and general logical methods to systematize the results of studies of the current doctrines of regional economics.Results. The results of the study, which include the examination and generalization of the current doctrines of regional economics, become even more relevant and receive new incentives for development by combining with other economic theories in an attempt to cover the whole spectrum of problems of regional economic development, which is a direction for further research in this subject area. Regional economics gained momentum through interaction with international and interregional trade theories. The development of a new trade theory based on the Dixit–Stiglitz model inspired a new interest in trade at different development levels. These changes in the trade theory facilitate the creation of multiple spatial economic models in the form of a new economic geography.Conclusions. The approach to the current doctrines of regional economics is realized through the international business theory. The structural component of regional economics in this field of research should be determined through the formation of territorial clusters. The second group of works conducts analysis using more complex economic models based on statistical methods. The corresponding research methods make it possible to identify clusters by measuring local effects.

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Andriani, Yeti. "Implikasi Perjanjian Kemitraan Ekonomi Komprehensif Indonesia-Australia (IA-CEPA) terhadap Perdagangan Luar Negeri Indonesia." Andalas Journal of International Studies (AJIS) 6, no. 1 (May 1, 2017): 79. http://dx.doi.org/10.25077/ajis.6.1.79-92.2017.

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This research is used to see IA-CEPA's contribution to trade of both countries especially to Indonesian foreign trade. With the research question, what is the economic implication of this economic partnership agreement politics, especially related to Indonesian trade sector? Adam Smith's theory in this research is that the liberal economy is closely related to the world economic development, an idea that requires the liberty of individuals or economic units to achieve their interests and an invisible hand can facilitate economic regulation and achieve high economic efficiency and growth, the government should not interfere and instead let the market run on its own mechanism. Added by David Ricardo that mutual interest is generated is a mutual interest-based benefit of the trade. The method used is qualitative method that is method with purpose to explain topic in detail. The result of this research is the IA-CEPA agreement can facilitate the access of Indonesian market and foreign trade to Australia.Key Words: Liberal Economics, IA-CEPA, Trade

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16

Ma, Shu-yun. "Recent Changes in China's Pure Trade Theory." China Quarterly 106 (June 1986): 291–305. http://dx.doi.org/10.1017/s0305741000038583.

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The importance of international trade to the Chinese economy has been growing since the formal approval of the open-door policy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party in 1978. However, trade expansion in China faces three constraints. First, there is the theoretical problem that orthodox ideology makes it illegitimate for a socialist country to have a large foreign trade sector. Secondly, there is the institutional problem that the Soviet-type foreign trade mechanism, characterized by a state monopoly of foreign trade, a centralized foreign trade plan, and insulation of domestic from foreign prices, is incapable of handling trade expansion in an efficient manner. Thirdly, there is the economic problem that the lack of competitiveness of domestic goods in the international market limits the country's export and thus import capacity. While the new Chinese leaders are making immense efforts to remove these constraints, this article will focus only on the first. The anti-trade attitude of Communist China is the combined result of China's historical heritage and Marxist ideology. The long history of self-sufficiency in “feudal” China meant that trade was never an imperative economic need. When contact with the west increased in the 19th century, international trade was associated with an influx of opium, an outflow of silver, and a series of unequal treaties. Such an unhappy, early experience of contact with the west has left China sensitive to any increase in international trade.

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17

Ostbye, Stein. "Another note on Oswald's ‘The Economic Theory of Trade Unions’." Applied Economics Letters 3, no. 11 (November 1996): 719–20. http://dx.doi.org/10.1080/135048596355736.

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18

Santoni, Michele. "A Note on Oswald's "The Economic Theory of Trade Unions"." Scandinavian Journal of Economics 97, no. 1 (March 1995): 169. http://dx.doi.org/10.2307/3440837.

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19

Lohi, Julie. "The Implications of HO and IRS Theories in Bilateral Trade Flows within Sub-Saharan Africa." Global Economy Journal 13, no. 2 (June 2013): 175–202. http://dx.doi.org/10.1515/gej-2012-0020.

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Sub-Saharan African (SSA) countries tend to trade less among themselves. This article analyzes the driving forces of bilateral trades within the SSA region. To do so, I use the gravity equations from Evenett and Keller (2002) and study what trade theories, the Heckscher–Ohlin theory of factor abundance or the increasing return to scale theory of product differentiation, account for the bilateral trade flows within this region. My results indicate that trades within this region do not arise from factor abundance or product differentiation. Trade policies that are aimed to promote trade within the region (i.e. FTA, custom unions) are likely to fail, because SSA countries produce similar homogeneous products. The key factor for economic success from international trade for the SSA region relies on how to manufacture products in different varieties and how to export their comparative advantage goods outside the region.

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Postlewaite, Andrew. "American Economic Journal: Microeconomics." American Economic Review 99, no. 2 (April 1, 2009): 683–84. http://dx.doi.org/10.1257/aer.99.2.683.

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AEJ Micro publishes papers focusing on microeconomic theory, industrial organization, and the microeconomic aspects of international trade, political economy, and finance. The journal will publish theoretical work as well as both empirical and experimental work with a theoretical framework.

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21

Maiwan, Mohammad. "TEORI-TEORI EKONOMI POLITIK INTERNASIONAL DALAM PERBINCANGAN: ALIRAN DAN PANDANGAN." Jurnal Ilmiah Mimbar Demokrasi 15, no. 1 (October 1, 2015): 109–25. http://dx.doi.org/10.21009/jimd.v15i1.9114.

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This article briefly describes some of the major theories of international political economy, namely: Liberal Trade Theory; Nationalist trade theory; The theory of "Dual Economy"; Theory of the Modern World System (MWS); Hegemonic stability theory. Each of these theories has shown an important aspect of economic and political relations. In addition to having the advantages of each, above theories also opened the weaknesses of another theory, allowing us to see the extent of his power in explaining trends in today's global economy. Each theory has its contextual truth respectively. In addition, any such theory can not stand alone. We need elements of each other's views to be aware of the complex relationship between economics and politics. In international relations the interrelationship or interplay between economic factors with the political factor is absolute.

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Ahmad, Mohsin Hasnain, Shaista Alam, and Mohammad Sabihuddin Butt. "Foreign Direct Investment, Exports, and Domestic Output in Pakistan." Pakistan Development Review 42, no. 4II (December 1, 2003): 715–23. http://dx.doi.org/10.30541/v42i4iipp.715-723.

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The impact of the policy reform on economic performance has been one of the stifling issues in development economics in the recent years. Since the middle 1970s, there has been considerable progress in the trade reform in the most developing countries, turning from an import substitution strategy to export-oriented approach. Pakistan also follows export-oriented policies. Pakistan’s trade pattern and trade policy have been moving towards fewer and fewer controls, tariffs rates have come tumbling down. Export-led-growth hypothesis (ELG) suggests that due to positive correlation between export and growth, therefore, export-oriented policies contribute to economic growth. Thus, international trade and development theory suggests that export growth contributes positively to economic growth. On the basis of this framework, most empirical work on the effects of export promoting strategy followed in developing countries evaluated openness with trade. Empirical research about the effect of this liberalisation process has treated export as principal channel for growth. The relationship with exports and growth, grounded in endogenous growth theory, has been tested for Pakistan [Khan (1995); Ahmad, Butt, and Alam (2000) and Akbar (2000)].

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23

Anderson, James E., and Eric van Wincoop. "Trade Costs." Journal of Economic Literature 42, no. 3 (August 1, 2004): 691–751. http://dx.doi.org/10.1257/0022051042177649.

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This paper surveys the measurement of trade costs: what we know and don't know but may usefully attempt to learn. Partial and incomplete data on direct measures of costs go with inference on implicit costs from trade flows and prices. Total trade costs in rich countries are large. The ad valorem tax equivalent is about 170 percent when pushing the data hard. Poor countries face even higher trade costs. There is a lot of variation across countries and across goods within countries, much of which makes economic sense. In our survey, theory provides interpretation and perspective and suggests improvements for the future. Some new results are presented to properly apply and interpret gravity theory and handle aggregation.

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Elmslie, Bruce. "Retrospectives: Adam Smith's Discovery of Trade Gravity." Journal of Economic Perspectives 32, no. 2 (May 1, 2018): 209–22. http://dx.doi.org/10.1257/jep.32.2.209.

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The gravity equation is a current workhorse of empirical trade theory. It is generally acknowledged that this theory, which relates the extent of trade between countries to their respective sizes, distances, and relative trade barriers, was first developed by Jan Tinbergen in 1962. Acceptance of the gravity model as part of the discipline's core was limited by its scant theoretical foundation for the first 40 years of its existence. This paper finds that a theory of trade gravity was first developed by Adam Smith in The Wealth of Nations. Moreover, it is shown that Smith's statement of a proportional relation between economic size and distance came about as an application of his general theory of differential capital productivity in different economic sectors, and his elaboration of a theory of the gains from trade originated by David Hume. It is further shown that Smith had an explanation of the size of border affects in trade volumes, and a gravity theory of trade restrictions.

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ibrahim eldeeb, Ibrahim Mohamed, Prof Madya Dr Asmaddy Bin Haris, and Prof Dato Dr Muhamad bin Muda. "The Conceptual Framework of Economic Cooperation and Integration between Oic: Emperical Evidence on Effects of Trade on Cooperation and Integration." 12th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES 12, no. 1 (October 8, 2021): 79. http://dx.doi.org/10.35609/gcbssproceeding.2021.12(79).

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This study aims to illustrates the conceptual framework of economic cooperation and integration between OIC countries. This paper follows descriptive analysis approach to describe the conceptual framework of cooperation and integration between OIC countries. This paper describes the conceptual framework of economic cooperation and integration between OIC. It explores the channels through which trade can contribute to cooperation and integration. This study highlighted the cooperation between OIC in the light of economic integration theory. The results of this study discovers the dynamic relationship between trade balance and macroeconomic elements. This study also explains the empirical evidence on effects of trade on cooperation and integration. Keywords: Economic Cooperation, Economic integration theory, Trade Balance and Macroeconomic Elements.

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Peet, Richard. "Ten Pages that Changed the World: Deconstructing Ricardo∗." Human Geography 2, no. 1 (March 2009): 1–33. http://dx.doi.org/10.1177/194277860900200107.

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Powerful ideas that shape the world become taken-for-granted verities, in two senses of the term: as the only world that is known; and as the only world that can be imagined. When hegemony controls the imagination, fundamental criticism becomes difficult, and perhaps, impossible. Yet what if there were flaws in the original idea, from which new worlds were constructed, that have materialized in a political-economic geography beset with seemingly unsolvable problems? For example, what if there have always been fundamental flaws in the free trade, open market, competitive, global system that dominates both the world as we know it and the conventional political-economic-geographical thought we know it through? This article speculates that a psycho-discursive act of deconstruction might unravel the entire, subsequent discourse. It aims deconstruction at a founding statement in the free trade, global ideal, by looking critically at David Ricardo's theory of comparative advantage. Ricardo's argument that specialization and free trade are universally beneficial, became a founding premise of conventional economic theory and a basic prescription of liberal and neoliberal development policy. The article looks critically: at the logical consistency and representational accuracy of Ricardo's theory, especially the claim that all participants benefit from participation in a free trading scheme, so that trade brings about a far better world. The article reaches two main, critical conclusions: free trade theory based in comparative advantage has, from the beginning, been an ideology for creating economic spaces open to domination by powerful, leading countries; economics and economic geography have, since their classical beginnings, been biased in that their founding statements reverse the reality they pretend accurately to represent.

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Maneschi, Andrea. "Pareto on International Trade Theory and Policy." Journal of the History of Economic Thought 15, no. 2 (1993): 210–28. http://dx.doi.org/10.1017/s1053837200000948.

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Although in the past some of the best-known trade specialists have lavished praise on Vilfredo Pareto's theory of international trade, this aspect of his writings has been neglected for many years. Pareto's name figures in trade-theoretic articles only combined with the word “optimum,” as if the concept of a “Pareto optimum” constituted the beall and end-all of Pareto's contribution. This parallels Pareto's fame as a general economic theorist, of which it has recently been said that “it is disappointing that this reputation should be constructed on the basis of such a small part of his work” (Kirman 1986, p. 808).

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Altamimi, Abdulmalik M. "An Interactional World Trade Law." International Community Law Review 18, no. 3-4 (October 6, 2016): 317–52. http://dx.doi.org/10.1163/18719732-12341329.

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This article undertakes an innovative analysis of the theoretical and practical bases of world trade law by employing the interactional international law theory developed by Jutta Brunnée and Stephen Toope, and the jurisprudence of Lon L. Fuller. There are two main reasons for choosing an interactional approach. Firstly, through the constructivist notion of shared understandings, it offers a suitable framework for identifying the social foundations of world trade in terms of economic and legal inputs into the system. Secondly, Fuller’s contributions are acutely relevant to world trade law because of the economics foundation of his morality of law thesis, and his insightful reflections on fidelity to law, legality, and adjudication. Fuller’s jurisprudence pays close attention to the limits of adjudicating institutional rules that apply to the allocation of economic resources. This makes it useful for discussing the procedural challenges facing the World Trade Organization compliance regime.

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Warburton, Christopher E. S. "International trade law and trade theory." Journal of International Trade Law and Policy 9, no. 1 (March 30, 2010): 64–82. http://dx.doi.org/10.1108/14770021011029618.

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Alessandria, George, and Carter Mix. "Trade Policy is Real News: Theory and Evidence." International Finance Discussion Paper 2021, no. 1330 (September 24, 2021): 1–60. http://dx.doi.org/10.17016/ifdp.2021.1330.

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We evaluate the aggregate effects of changes in trade barriers when these changes can be implemented slowly over time and trade responds gradually to changes in trade barriers because firm-level trade costs make exporting a dynamic decision. Our model shows how expectations of changes in trade barriers affect the economy. We find that while decreases in trade barriers increase economic activity, expectations of lower future trade barriers temporarily decrease investment, hours worked, and output. Further- more, canceling an expected decline in future trade barriers raises investment and output in the short run but substantially lowers medium-run growth. These effects are larger when the expected reform is bigger. In the data, we find that countries with more trade growth after the General Agreement on Tariffs and Trade (GATT) rounds decreased investment and hours worked in the years leading to the tariff cuts, as predicted by our model.

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Okoro, Agwu Sunday, Augustine Ujunwa, Farida Umar, and Angela Ukemenam. "Does regional trade promote economic growth? Evidence from Economic Community of West African States (ECOWAS)." Journal of Economics and Development 22, no. 1 (March 25, 2020): 131–47. http://dx.doi.org/10.1108/jed-10-2019-0039.

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PurposeThis paper examines the impact of regional and non-regional trade on economic growth using annual data from Economic Community of West African States (ECOWAS) member countries for the period 2007 to 2017.Design/methodology/approachTrade data were decomposed into regional (trade among ECOWAS Member States) and non-regional (trade between ECOWAS Member States and the rest of the world). We used the dynamic system GMM to estimate the models and introduced exchange rate, unemployment rate, population growth and gross capital formation as controlled variables.FindingsThe results revealed that the estimated coefficient of ECOWAS regional trade is statistically significant and positive in predicting growth, while the non-regional trade coefficient is negative and not statistically significant in predicting growth. Other predictors of growth introduced into the model as controlled variables, such as exchange rate, unemployment rate, population growth and gross capital formation, displayed mixed results. More importantly, population growth, unemployment and exchange rate depreciation hurt economic growth, while gross capital formation promotes economic growth.Practical implicationsThe findings provide strong support in favour of the Krugman (1991) hypothesis that regional trade agreements (RTAs) are a better alternative to global trade.Originality/valueOur decision to disaggregate ECOWAS trade is unique and influenced largely by the objective of the study, which is to establish the type of ECOWAS trade that is a good predictor of growth. The evidence from our findings support the theory that RTAs are a better catalyst to economic growth.

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Van Hoa, Tran, Lindsay Turner, and Jo Vu. "Economic impact of Chinese tourism on Australia." Tourism Economics 24, no. 6 (April 23, 2018): 677–89. http://dx.doi.org/10.1177/1354816618769077.

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China’s trade, tourism and limited foreign direct investment (FDI) to Australia have been regarded as playing an important part in Australia’s growth and prosperity in recent years. In spite of the fact that these activities are the three principal growth determinants in modern economic integration theory, growth studies based on this theory’s structural framework, while highly appropriate, have hardly been undertaken. This article proposes to fill the gap by formally developing an endogenous causal model of simultaneous growth and tourism for policy analysis. In this model, trade, FDI and tourism are specified as the main contributing factors to growth. Simultaneously, gravity theory (including growth) and the Ironmonger–Lancaster new consumer demand theory determine tourism, while ‘economic conditionality’ potentially affecting both growth and tourism in the sense of Johansen is recognized and incorporated. The model is then applied to Australian and Chinese data for the important post-Japanese tourist boom period 1992–2015, to provide substantive findings on three questions: the impact of Chinese tourism to Australia, Chinese tourism determination and the effects of Chinese trade and key macroeconomic indicators on Australian economic growth. Significant policy implications are then developed for use by government tourism planners and policymakers.

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Carter, David B., and Paul Poast. "Barriers to Trade: How Border Walls Affect Trade Relations." International Organization 74, no. 1 (December 23, 2019): 165–85. http://dx.doi.org/10.1017/s0020818319000353.

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AbstractSince trade must cross borders, to what extent do border walls affect trade flows? We argue that border walls can reduce trade flows. Even if the objective is to only stem illicit flows, border walls heighten “border effects” that can also inhibit legal cross-border flows. Using a gravity model of trade that reflects recent developments in both economic theory and econometrics, we find that the creation of a wall is associated with a reduction in legal trade flows between neighboring countries. We provide a battery of evidence that suggests this reduction is not simply a function of worsening bilateral relations. Our findings have implications for understanding how governments have taken measures to assert sovereign control of their borders in an age of increasing economic globalization.

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Altanchulun, Dulguun. "EURASIAN ECONOMIC UNION AS THE MOST PROMISING DIRECTION IN FOREIGN TRADE STRATEGY OF MONGOLIA IN REGIONAL INTEGRATION." RSUH/RGGU Bulletin. Series Economics. Management. Law, no. 1 (2021): 110–18. http://dx.doi.org/10.28995/2073-6304-2021-1-110-118.

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Today, a regional economic integration is one of the main tendencies in global economic development. The world economic globalization is in the formative stage and most of the countries adhere to protectionism with regards to trade and economic co-operation. In those conditions, the countries opt for regional trade and economic integration. Mongolia is a country, which is not sufficiently enough participating in regional trade and economic integration. In 2016, Mongolia signed only one Economic Partnership Agreement with Japan. According to the trade theory, FTA is most useful to the countries, which have similar level of economic development. In that case, most favorable direction for Mongolia in regional trade and economic integration is the Eurasian Economic Union.

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Ehnts, Dirk, and Hans-Michael Trautwein. "From New Trade Theory to New Economic geography: A Space Odyssey." OEconomia, no. 2-1 (March 1, 2012): 35–66. http://dx.doi.org/10.4000/oeconomia.1616.

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Ehnts, Dirk, and Hans-Michael Trautwein. "From New Trade Theory to New Economic Geography: A Space Odyssey." OEconomia 2012, no. 01 (March 2012): 35–66. http://dx.doi.org/10.4074/s2113520712011036.

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Santos-Paulino, Amelia U. "Trade Liberalisation and Economic Performance: Theory and Evidence for Developing Countries." World Economy 28, no. 6 (June 2005): 783–821. http://dx.doi.org/10.1111/j.1467-9701.2005.00707.x.

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Karras, Georgios. "Trade Openness, Economic Size, and Macroeconomic Volatility: Theory and Empirical Evidence." Journal of Economic Integration 21, no. 2 (June 15, 2006): 254–72. http://dx.doi.org/10.11130/jei.2006.21.2.254.

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Roush, F. W. "Economic Theory and International Trade, Essays in Memoriam J. Trout Rader." Mathematical Social Sciences 26, no. 2 (September 1993): 203–4. http://dx.doi.org/10.1016/0165-4896(93)90005-4.

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Melgar, Natalia, Juliette Milgram-Baleix, and Máximo Rossi. "Explaining Protectionism Support: The Role of Economic Factors." ISRN Economics 2013 (January 17, 2013): 1–14. http://dx.doi.org/10.1155/2013/954071.

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We find that individuals’ opinions concerning protectionist policies match with how their revenue could be affected in the medium or long term by trade liberalisation in line with predictions of the comparative advantage models. An adverse macroeconomic context (large increase in the unemployment rate or inflation rate) increases protectionist attitudes, thus reflecting that people do not trust that free trade will lead to lower prices or create jobs despite trade theory optimism. People share a mercantilist view of trade since more imports increase protectionism support, while people positively value exports, especially in small countries. Regarding policy measures, while protectionist measures do not influence protectionism support in general, easy access to exports reduces people’s support for protectionism.

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Francová, Zuzana, and Daniela Breveníková. "Towards the Importance of Theories of Trade as Part of Trade Science." Studia commercialia Bratislavensia 5, no. 20 (December 1, 2012): 558–73. http://dx.doi.org/10.2478/v10151-012-0011-x.

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Abstract Theory of trade is a name dealing with trade as a scientific discipline, which is made up of a set of generalised knowledge of trade, of laws determining its essence and operation. This scientific discipline also includes the knowledge of the origin of the relations, operation of these relations, and their means and tools in trade. Theory of trade is a summary of numerous interrelated and partial theories of trade, which are based on the pillars of general economic theory and general trade theory. The aim of the paper is to highlight the importance of some of these theories with focus on their historical retrospective as well as to evaluate to what extent each of these theories is justified.

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Oulu, Martin. "Core tenets of the theory of ecologically unequal exchange." Journal of Political Ecology 23, no. 1 (December 1, 2016): 446. http://dx.doi.org/10.2458/v23i1.20251.

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In this article, core tenets and claims of the theory of ecologically unequal exchange (EUE) are synthesized. EUE theory postulates a net flow of natural resources from peripheral developing to core industrialized countries through international trade, a situation which undermines the development of the periphery while enhancing that of the core. The key claims and EUE mechanisms are categorized and discussed under three topics: 1) the structure of the capitalist world-economy, 2) monetary valuation, and 3) equity and justice. The treadmill logic of capitalism in which capital extracts ecological resources and release waste in an endless pursuit of profits creates an expansionary dynamic which draws peripheral countries into exploitative market relations. This peripheralization is supported by 'free trade' economic policies, while nation-states and other political-economic institutions such as the WTO and IMF provide the regulations which ensure proper functioning of the system. Monetary valuation caps it by obscuring the inverse relationship between thermodynamics and economics, in which low-entropy energy and materials indispensable in economic production processes are lowly priced while processed goods which have dissipated most of their matter-energy are highly priced, ensuring that biophysical resources and profits accumulates in the industrialized Northern countries. This EUE framework is applied to the EU's Raw Materials Initiative from the vantage point of policy as implicit theory. By challenging mainstream policies and their underlying theories, the EUE perspective demonstrates that alternatives to neoliberal policy prescriptions exist and policy can play a crucial role in bringing about the necessary structural changes.Key words: ecologically unequal exchange, environmental justice, EU, capitalism, free trade, policy

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Kehoe, Timothy J., and Kim J. Ruhl. "Why Have Economic Reforms in Mexico Not Generated Growth?" Journal of Economic Literature 48, no. 4 (December 1, 2010): 1005–27. http://dx.doi.org/10.1257/jel.48.4.1005.

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Following its opening to trade and foreign investment in the mid-1980s, Mexico's economic growth has been modest at best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude that the relation between openness and growth is not a simple one. Using standard trade theory, we find that Mexico has gained from trade, and by some measures, more so than China. We sketch out a theory in which developing countries can grow faster than the United States by reforming. As a country becomes richer, this sort of catch-up becomes more difficult. Absent continuing reforms, Chinese growth is likely to slow down sharply, perhaps leaving China at a level less than Mexico's real GDP per working-age person. (JEL E23, E65, F14, O10, O20, O47)

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Nagel, Daniel, and Sorin Burnete. "Free Trade in Theory and Policy: Contemporary Challenges." Human and Social Studies 7, no. 2 (June 1, 2018): 13–35. http://dx.doi.org/10.2478/hssr-2018-0012.

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Abstract Free trade denotes a state of international commercial relations premised on governments’ restraint from using policy instruments meant to favor indigenous industries against foreign competitors. According to the conventional trade theory advocated by classical and neo-classical thinkers, free trade makes little economic sense failing nations’ tendency to specialize based on comparative advantage, a concept with high persuasive influence despite the elapsing of time. Even though the comparative advantage rule has seldom been questioned per se, the free trade concept has been fiercely disputed and not infrequently, bashed. Nations’ involvement in international trade often follows patterns that do not fit theoretical models but attempt to respond to circumstantial interests, most often the need to protect poorly competitive industries. In common parlance, free trade has had both proponents and enemies.

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袁, 云云. "Comparison and Integration of Marxist International Trade Theory and Western Economics International Trade Theory." Advances in Social Sciences 08, no. 11 (2019): 1817–22. http://dx.doi.org/10.12677/ass.2019.811248.

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Banks, Ferdinand E. "Economic theory and the end of the day in Copenhagen." ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, no. 1 (July 2010): 83–86. http://dx.doi.org/10.3280/efe2010-001007.

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Economic theory and the end of the day in Copenhagen, by Ferdinand E. Banks Copenhagen Conference did not succeed, but something is moving in the climate change arena. Many scholars now doubt about trade mechanism and recognize that a well balanced mix of energy sources is needed to take the global warming.

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Hamelin, Spencer. "“Nervous nellies and nay-sayers”: Social movements and Canada-United States free trade." SURG Journal 7, no. 3 (August 20, 2014): 14–20. http://dx.doi.org/10.21083/surg.v7i3.2936.

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Free trade is part of neo-liberal economics, which is centred on the free market principles of limited government regulation and private sector competition. Free trade focuses on the elimination of trade barriers and tariffs. In Canada, the movement toward free trade began in 1985 with the Royal Commission on the Economic Union and Development Prospects for Canada, which encouraged free trade between the United States and Canada, and concluded with the 1988 federal election that sealed Canada’s fate within economic union with the United States. This article will combine a Neo-Marxist and Political Process Theory framework to address how during the period from 1985 to 1988, Canadian social movements adopted innovative tactics and mobilized against free trade to gain greater influence over trade policy. Keywords: free trade; social movements; Canada; United States; Auto Pact; United Steel Workers; Canadian Auto Workers, National Action Committee on the Status of Women; Council of Canadians; Macdonald Commission

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Bush, Sarah Sunn, and Lauren Prather. "Foreign Meddling and Mass Attitudes Toward International Economic Engagement." International Organization 74, no. 3 (2020): 584–609. http://dx.doi.org/10.1017/s0020818320000156.

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AbstractWhat explains variation in individual preferences for foreign economic engagement? Although a large and growing literature addresses that question, little research examines how partner countries affect public opinion on policies such as trade, foreign aid, and investment. We construct a new theory arguing that political side-taking by outside powers shapes individuals’ support for engaging economically with those countries. We test the theory using original surveys in the United States and Tunisia. In both cases, the potential partner country's side-taking in the partisan politics of the respondents’ country dramatically shapes support for foreign economic relations. As the rise of new aid donors, investors, and trade partners creates new choices in economic partners, our theory and findings are critical to understanding mass preferences about open economic engagement.

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Puślecki, Zdzisław W. "Foreign Trade Policy in Realisation of Economic and Political Interests." Applied Finance and Accounting 2, no. 1 (August 28, 2015): 19. http://dx.doi.org/10.11114/afa.v2i1.1058.

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In this research work, author focuses on the analysis of the theory of foreign trade policy and important political and economic interests. Realistic point is important trends in the trade regime. The decisions taken by the representatives of the governments participating in the World Trade Organisation (WTO) are, to a significant degree, influenced by various lobbies, such as organisations and unions of food producers or other non-governmental organisations, including trade unions. The main objective of the research task is to give a comprehensive analysis of the international trade policy. The particularly main concern the political economy models of foreign trade policy, protectionistic pressures in different political system, the level of protectionistic pressures, food producer pressures, international trade liberalization and environmental protection, bilateral tendencies in the foreign trade policy. It must be emphasis that on a theoretical level, understanding the choice of trade policies between liberalizm and protectionisme is very important. Despite the undeniable benefits of the multilateral WTO forum for trade liberalisation, the rapid increase of North-South bilateral and multilateral Free Trade Areas (FTAs) begs a systematic explanation for why some forums are prioritized relative to others.

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Maslak, Nataliia, Zhang Lei, and Lu Xu. "Analysis of agricultural trade in China based on the theory of factor endowment." Agricultural and Resource Economics: International Scientific E-Journal 6, no. 1 (March 20, 2020): 50–61. http://dx.doi.org/10.51599/are.2020.06.01.04.

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Purpose. The purpose of the paper is to present the results of the study of agricultural trade in China based on the theory of factor endowment and to develop a policy recommendation for the intensification of agricultural trade based on technological progress. Methodology / approach. This paper uses the methods of economic theory and comparative analysis to study the development of agricultural products trade in China; analysis the advantages of developing agricultural products trade in China by using comparative advantage theory; and econometric analysis to study the relationship between volume of agrarian trade and agricultural labor force, capital and land resources. Results. This paper uses time series data to analyze the three elements of capital, labor and land, and the development of agricultural trade in China. According to the established data model, it is obviously that China’s agricultural production of land factor endowment constraints are obvious, labor factor endowment is abundant but also facing the problem of increasing costs, labor personnel gradually decline. In this case, technological progress is more critical to the cultivation and maintenance of comparative advantage of agricultural products. The government should guide the direction of technological changes, technical support, capital support (material capital and human capital); and promote the rapid development of China’s agricultural trade. Originality / scientific novelty. Author’s developed econometric model is very useful in empirical assessment for the China agricultural products trade development, and it also provides new decisions for China to develop agricultural trade. Accordingly, the proposed method can provide an answer to the question of how to develop traditional agriculture in the context of rapid economic changes, and put forward more practical countermeasures. Practical value / significance. The main proposals can be used by the Government of China to formulate better agricultural trade policies and achieve rapid economic growth and increasing farmer incomes.

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Journal articles on the topic 'Economic theory of trade'

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