International Trade Theory and Competitive Models

Features, Values, and Criticisms

Business & Finance, Economics, Econometrics, International Economics

• Author: Ronald W Jones
• ISBN: 9789813200685
• Publisher: World Scientific Publishing Company
• Publication: December 27, 2017
• Imprint: WSPC
• Language: English

World-renowned economist Ronald W. Jones gets to the essence of international trade theory in this collection of articles that span over half a century of his published work. As the global economy has grown, so too has the need for a deeper rooted understanding of trade — and its assorted benefits. With clear, simplifying prose, Jones elucidates the Ricardian, Heckscher–Ohlin, and Specific-Factors models of general equilibrium theory. Jones' pioneering work anticipates, among other changes in our time, the creation of far-flung supply chains brought about by the falling costs of service links. The theoretical, technical, and historical insights in the text are peppered with personal notes that capture modern intellectual development in the field, providing a bedrock foundation in international trade for students and practitioners alike.

Contents:

• An Old Favorite: The Ricardian Model:

  • Comparative Advantage and the Assignment Problem
  • Technology Choice, Overtaking, and Comparative Advantage
  • The Technology Transfer Paradox

• More General Equilibrium Models: Heckscher–Ohlin and Specific-Factor Models:

  • The Structure of Simple General Equilibrium Models
  • The Golden Anniversary: Stolper–Samuelson at 50
  • "Protection and Real Wages": The History of an Idea
  • Heckscher–Ohlin Trade Flows: A Re-Appraisal
  • Heckscher–Ohlin and Specific-Factors Trade Models for Finite Changes: How Different Are They?
  • Bubble Diagrams in Trade Theory
  • Trade, Technology, and Income Distribution
  • Factor Bias and Technical Progress
  • Sense and Surprise in Competitive Trade Theory 2010 WEAI Presidential Address

• Fragmentation of the Production Process and International Trade

  • The Theory of Trade in Middle Products
  • The Role of Services in Production and International Trade: A Theoretical Framework
  • The Role of International Fragmentation in the Development Process
  • International Trade and Agglomeration: An Alternative Framework
  • International Fragmentation and the New Economic Geography

• Final Thoughts on Competitive Trade Models:

  • On the Value of Small-scale GE Models
  • On Blending Competitive Trade Models

Readership: Graduate students and researchers in the field of international economics.
Key Features:

• A collection of 18 published articles in the field of international trade theory
• Reveals in the simplest way important aspects of traditional international trade theory