Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/57042 
Authors: 
Year of Publication: 
2010
Series/Report no.: 
Working Paper No. 635
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
This paper provides a survey of the literature on trade theory, from the classical example of comparative advantage to the New Trade theories currently used by many advanced countries to direct industrial policy and trade. An account is provided of the neo-classical brand of reciprocal demand and resource endowment theories, along with their usual empirical verifications and logical critiques. A useful supplement is provided in terms of Staffan Linder's theory of overlapping demand, which provides an explanation of trade structure in terms of aggregate demand. Attention is drawn to new developments in trade theory, with strategic trade providing inputs to industrial policy. Issues relating to trade, growth, and development are dealt with separately, supplemented by an account of the neo-Marxist versions of trade and underdevelopment.
Subjects: 
comparative costs
resource endowment pattern and trade
overlapping demand
strategic trade
new theories of trade
trade and development
JEL: 
F11
F12
F14
Document Type: 
Working Paper

Files in This Item:
File
Size
163.84 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.