Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/46740 
Year of Publication: 
1986
Citation: 
[Publisher:] Institut für Weltwirtschaft (IfW) [Place:] Kiel [Year:] 1986
Series/Report no.: 
Kiel Working Paper No. 260
Publisher: 
Kiel Institute of World Economics (IfW), Kiel
Abstract: 
For a long time economists have been presuming a strong and positive relationship between a country's engagement in international trade and its economic performance. Already Adam Smith stressed the importance of trade as a means of widening markets, thereby increasing the division of labour and thus raising the level of productivity; John Stuart Mill on the other side laid greater emphasis on the dynamic effects of international trade (called indirect effects) . Thus it was generally believed that countries with a high engagement in international trade perform much better than countries that protect their home markets - the latter not being able to make use of the benefits of trade as a source of economic growth.
Document Type: 
Working Paper
Document Version: 
Digitized Version

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