Lectures on International Trade, second edition

by Bhagwati, Jagdish N.; Panagariya, Arvind; Srinivasan, T. N.

• ISBN13: 9780262522472
• ISBN10: 0262522470
• Edition: 2nd
• Format: Paperback
• Copyright: 1998-09-28
• Publisher: The MIT Press

Summary

The greatest strength of this thoroughly revised and expanded edition of Lectures on International Tradeis its rigorous algebraic and geometric treatment of the various models and results of trade theory. The authors, who now include Arvind Panagariya, offer both policy insights and empirical applications. They have added nine entirely new chapters as well as new sections to several existing chapters (e.g., a greatly expanded treatment of the growing theory of preferential trade agreements).

Author Biography

Jagdish N. Bhagwati is University Professor of Economics, Law, and International Relations at Columbia University and former Adviser to the Director General of GATT, Arthur Dunkel. He is the author (with Arvind Panagariya) of Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries.

Arvind Panagariya is Vice Chairman, NITI Aayog (National Institution for Transforming India), Government of India, and Professor of Economics in the School of International and Public Affairs at Columbia University.

T.N. Srinivasan is Samuel C. Park Jr. Professor of Economics at Yale University.

Table of Contents

Preface to the Second Edition
Introduction	p. 1
Theories of International Trade	p. 7
Model and Analytic Relationships in Recardian Theory	p. 9
Ricardian Theory and the Pattern of Trade	p. 29
Some Extensions of Ricardian Theory	p. 35
Model and Analytic Relationships under the Heckscher-Ohlin Theory	p. 53
Pattern of Trade and the Heckscher-Ohlin Theory	p. 79
Specific-Factors Model	p. 91
Generalizations and Empirical Verification of the Heckscher-Ohlin Theory	p. 107
Dual Approach: Basic Tools	p. 131
Mathematical Analysis of the 2 x 2 and 2 x 3 Models	p. 143
Economies of Scale	p. 163
Trade Interventions and Transfers	p. 201
Tariffs and Trade Equilibrium	p. 203
Tariffs versus Quotas	p. 221
Other Commercial Policy Instruments	p. 229
Effective Rate of Protection	p. 239
Transfer Problem	p. 247
Trade and Welfare in an Open Economy	p. 255
Principal Issues and Policy Instruments	p. 257
Gains from Trade	p. 265
Measuring Gains from Trade	p. 281
Distortions: Departures from Free-Trade Optimality	p. 285
Monopoly Power in Trade	p. 289
Production Externalities	p. 301
Monopoly in Production	p. 309
Monopsony	p. 313
Wage Differentials	p. 323
Generalized Sticky Wages	p. 331
Sector-Specific Sticky Wages	p. 343
Noneconomic Objectives	p. 351
Immiserizing Growth	p. 369
Imperfect Competition and Trade Policy	p. 381
Uniform versus Preferential Tariff Reduction	p. 421
International Capital Flows	p. 455
International Migration	p. 467
Recent Theoretical Developments	p. 473
Directly Unproductive Profit-Seeking (DUP) Activities	p. 475
Trade Reform	p. 497
Growth and Welfare	p. 517
Endogenous Growth, Innovation, and Trade	p. 527
Shadow Prices for Project Selection in Open Economies	p. 541
Uncertainty	p. 549
Alternative Elasticity Formulas	p. 565
Basic Results of the 2 x 2 Neoclassical Model of Trade Theory	p. 569
Classical Comparative-Statics Model and Analytical Relationships	p. 583
Index	p. 595
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