DOCSLIB.ORG

Development Process and Review of the International Trade Theory

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Development Process and Review of the International Trade Theory International Conference on Education Technology and Management Science (ICETMS 2013) Development Process and Review of the International Trade Theory Zhou Meini dept. Chongqing University of Science and Technology School of Business Administration Chongqing, China E-mail: [email protected] Abstract—The international trade theory experienced several with its cost-low products. Adam pointed out that the base of periods of development from Classical to Neoclassical, to New international trade lies in the difference of the absolute cost Trade Theory, then to New Classical Trade Theory. The among the products of all countries. This absolute cost Classical, Neoclassical and the New Trade Theory all provide a difference derives from: explanatory power for the birth of international trade. While the New Classical Trade Theory offers a uniform theoretical 1) nature endowments difference (nature endowment is core for internal and international trade, of which the perfect one of the sources of absolute cost advantage); theoretical frame and powerful realistic explanation are 2) acquired difference (special techniques or crafts extremely remarkable, which provides a new angle and point acquired after training or education). of view for the study over international trade. The absolute cost theory is quite significant since it for the first time demonstrates the trade mutually-beneficial Keywords- international trade theory; development; review rationale, overcomes the one-sided point of mercantilism that international is only beneficial to one side. This run-run I. INTRODUCTION theory is still valuable nowadays for opening wider to the The international trade theory experienced several periods world, actively participating in the international production- of development from Classical to Neoclassical, New Trade sharing trade. Theory, and then the New Classical Trade Theory. The The British classical economist David Ricardo proposed earliest over international trade had its birth in the end of the international trade theory of comparative interest based 15th century and initial period of 16th century. That is, on Adam’s absolute interest. David’s theory is established during the period of western countries’ primitive with the premise of the assumption that only one production accumulation of capital and the main theory is mercantilism. element is needed in production---labor force. David points It is claimed of the theory that the only form of wealth is the out that the base of international trade lies in the price metal---gold and silver. People can gain them though difference brought by the labor productivity difference exchange and for a nation, it is to increase the social wealth. (technical difference) when all the countries are producing Hereby, the way to gain gold and silver is international trade. the same product. When two kinds of products are produced, the labor productivity will further be the comparative II. CLASSICAL INTERNATIONAL TRADE THEORY technical difference when the countries produce different In the late 1790s, the point of mercantilism was challenged products. The reason or motivation of international trade is by the classical economists. Based on criticizing the the price difference in the commodity and the producers’ mercantilism, Adam Smith proposed the division of labor pursuit of high price. And the structure of international theory. It has been 41 years from Adam Smith proposed the production-sharing is that every country specially produce absolute cost in his the Wealth of Nations in 1976 to David the products with their comparative advantage and further do Ricardo proposed the comparative cost in his the Principles exchange according to their need while the result of of Political Economy and Taxation in 1817. This is the international trade is that each country can increase their real foundation period of international trade theory, that is, the income level through international trade. Classical period. The birth of Ricardo’s comparative cost theory means the The absolute cost of Adam Smith is based on the division establishment of international trade theory system. Applying of labor theory. Adam introduced the division of labor theory the abstract method, Ricardo made a series of premise to the field of international trade and established his absolute assumptions over the theory’s application. Since great cost theory, thus demonstrating the fact that a nation can difference exists between the premises of these assumptions make the sources of each country most efficiently used to and the real economic society, thus dramatically influencing gain the increase of the total production, the enhance of the explanatory power of the theory. However, the consumption level and the save of labor time as long as the construction of the theory model aims to prove the nation specially produce the products of which its production universality of the production-sharing and mutual-benefit of cost is lower than any other country in order to exchange the international trade and not to concretely plan for the products of which the cost is high than any other country international production-sharing pattern. A long time after © 2013. The authors - Published by Atlantis Press 277 that, the development of the study over international trade countries caused by it, thus overcomes the limitation of theory are all carried out based on approaching the reality by Ricardo's model of the hypothesis of one factor, which is a loosening or changing the assumption conditions of the considerable success. However, in H-O model, as far as theory. absolute figure is concerned, the resource endowment of a However, a further study over the theory proves that certain factor that one country owns may surpass another Ricardo’s Model can always be established under the country with the premise excluding the possibility of return premise that only one production factor---labor force and of scale, so it concerns only the comparative amount of unchanging returns to scale. But examples to prove the resource endowment. If a country belongs to a labor- inability of the theory can also be found as long as there are abundant country, and compared with other countries its more than two products. Meanwhile, the theory is established preference type lies in labor-intensive product, then the wage with the assumption of only one production factor (labor rate is higher when it is in a closed environment. Therefore, force) which makes it hard to explain the comparative H-O model hypothesizes that both countries have the same advantage under the situation of multi-factors existing. preference. However, even this hypothesis exists, there are still some limitations in H-O model, namely the so called III. NEOCLASSICAL INTERNATIONAL TRADE THEORY factor intensity reversal, which hypothesizes that labor- In the 1930s, Swedish economist Ohlin published intensive products in one country turns out to be produced Interregional and International Trade, in which he put with capital-intensive technology. If there is factor intensity forward Factor Endowment Theory that replaces Ricardo's reversal, H-O theory can no longer hold water. Single Production Element Theory with a variety of factors theory in interdependent structure of production. Ohlin's IV. NEW TRADE THEORY Factor Endowment Theory is called Neo- classical After H-O model, the driving force of the development of International Trade Theory, and his model is called H–O trade theory comes from the development of data collection model. and processing technology, as well as the possibility of Heckscher and Ohlin think, in realistic production, what provided empirical test on trade theory. “Leontief paradox” put in is not only labor, but also other factors. What's more， arises some doubts for the general applicability of H-O putting in two factors is a basic condition of production model, and provides an opportunity for the advance of process. According to Factor Endowment Theory, if two international trade theories. By improving H-O model, some countries produce the same product at the same level of researchers introduce such factors of production as human technical skills, then price difference comes from cost capital and land, and think over the difference of factor difference; with the latter itself comes from the price endowments between countries on a broader basis, which has difference of factors in the process of production. While gotten some results. Others try to create the new trade theory price difference of factors depends on the country's by abandoning some important assumption of H-O model. comparative abundance degree, namely it is endowment Based on product content, there are two basic types of differences. Different products require different proportions international trade. One is inter-industry trade, which means of the two factors, so when a production-intensive country one country imports and exports the commodities produced produces a product that using its abundant factors, the cost is by different industrial sector, the other is intra-industry trade comparatively low; otherwise, it is comparatively high. As a which shows that one country not only imports but also result, price advantage comes into being because various exports the manufactured goods of the same category, and countries produce and change the same products; the practice two countries import and export the goods above from each promotes the appearance of international trade and division other. As for the new trade phenomenon in this sector, it is of labor. This is the narrow definition of Factor Endowment hard to give a convincing explanation for analyzing the Theory. traditional trade theories of inter-industry trade. Paul While in a broader sense, Factor Endowment Theory Krugman and other economists take the reasonable elements points out, if the involved countries share same market price, of traditional trade theories, build a new analysis framework same price of factors of production, and same technical skill, and put forward the New Trade Theory. These economists then the international trade depends on each country's use industrial organization theory and the theory of market endowment of factors of production.
Load more

Recommended publications
  • Memorandum (Academic)
    Office of the Vice-Provost and Associate Vice-President memorandum (Academic) DATE: April 17, 2020 TO: Senate FROM: Dr. Dwight Deugo, Vice-Provost and Associate Vice-President (Academic), and Chair, Senate Quality Assurance and Planning Committee RE: Economic Policy master’s-level graduate diplomas (Type 2 & 3) New Program Approval _____________________________________________________________________________ SAPC Motion THAT SQAPC recommends to SENATE the approval of the proposed Graduate Diplomas in Economic Policy to commence Winter 2021. Senate Motion THAT Senate approve the master’s-level graduate diplomas in Economic Policy to commence with effect from Winter 2021. Background The program is a graduate diploma in Economic Policy in the Department of Economics. The principal goal is to expose anyone with an undergraduate degree and at least some formal training in undergraduate economics to a wide range of issues related to the formulation of economic policy. It will target non-economists working on economic policy in government, central banks and other organizations as well as people who already have an undergraduate degree in Economics wishing to take courses that are at the forefront of current economic policy debates. Attachments Self-Study with Appendices Courseleaf entries Faculty CVs (volume II) Quality Assurance Framework and Carleton’s Institutional Quality Assurance Process (IQAP) Upon the above motion being passed by Senate, the required documentation will be submitted to the Quality Council for its review and a decision
    [Show full text]
  • Evolutionary Dynamics of the Market Equilibrium with Division of Labor∗
    Department of Economics Issn 1441-5429 Discussion paper 12/09 Evolutionary Dynamics of the Market Equilibrium with Division of Labor∗ Haiou Zhou∗∗ Abstract: Recently, a growing literature, known as the new classical economics, attempts to resurrect the classical economic thoughts on division of labor within an analytical framework inherited from neoclassical economics. The paper inspects the feasibility of this approach and finds that the current analytical framework of the new classical economics is not able to spell out how individuals’ decisions on specialization are coordinated and how division of labor is realized in a large and decentralized economy. Evolutionary dynamics are then introduced into the existing models. Using a simple economy for example, the paper shows that the equilibrium network of division of labor predicted by the new classical economics is supported by evolutionary stability and can be realized by the outcome of evolutionary processes, such as Replicator Dynamics. Mutation is important in the realization of division of labor since it provides an approach for the economy to escape from an initial state of autarky. The study implies that the inherent evolutionary process of the market constructs an “invisible hand”, which can spontaneously coordinate self-interested individuals’ decentralized decisions on specialization to discover an efficient order of division of labor in a large economy. JEL Classification: C73; D23; D40; D51 Keywords: division of labor, evolutionarily stable strategy, replicator dynamics, mutation ∗ A part of the paper was presented on the 36th Australian Economists Conference. ∗∗ Corresponding author: Department of Economics, Monash University, Clayton, Victoria 3800, Australia [email protected]; Phone: +61 3 9905 2488; Fax: +61 3 9905 5476.
    [Show full text]
  • An Inframarginal Analysis of the Ricardian Model”
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Monash University Research Repository A note on “An Inframarginal Analysis of the Ricardian Model” Dingsheng Zhang Institute for Advanced Economic Studies, Wuhan University, China Department of Economics, Monash University, Australia Heling Shi Department of Economics, Monash University, Australia A note on “An Inframarginal Analysis of the Ricardian Model” Abstract This is a note about Cheng et al’s paper, in which we consider a dual structure of division of labor and trade in the model of Cheng et al that is missed by the authors. While the inclusion of the dual structure will not change major results in the paper of Cheng, et al., it explores an interesting way to use a general equilibrium model to describe a dual structure with underemployment in a transitional period of economic development. JEL: F11 Keywords: the Ricardian model; Inframarginal analysis; Dual structure. 1 1. Introduction This note considers a dual structure of division of labor and trade in the model of Cheng, Sachs, and Yang (2000) that is missed by the authors. While the inclusion of the dual structure will not change major results in their paper, it explores an interesting way to use a general equilibrium model to describe a dual structure with underemployment in a transitional period of economic development. 2. The model setting The specifications of the current model are the same as in Cheng, et al. Consider a world consisting of country 1 and country 2. In country i, a continuum of consumer-producers has mass Mi (i=1, 2).
    [Show full text]
  • Introduction 1
    CHAPTER 1: INTRODUCTION 1 INTRODUCTION 1 1.1 CLASSICAL DEVELOPMENT ECONOMICS AND CAPITALIST ECONOMIC DEVELOPMENT The focus of classical mainstream economics, represented by William Petty, A. R. J. Turgot, Adam Smith, and others, is on the development implications of division of labor.1 In a sense, the core of classical mainstream economics is development economics. This core includes the Smith theorem: Division of labor is the mainspring of economic progress (1776, ch. 1 of bk. I), division of labor is dependent on the extent of the market (ch. 3 of bk. I), and the extent of the market is determined by the transportation condition (pp. 25–32). Also, Smith’s conjecture on the intrinsic relationship between specialization and the use of money (p. 37), his theory of capital according to which investment is a vehicle for increasing division of labor in roundabout production (p. 371), and his conjecture on the role of the invisible hand in coordinating the network of division of labor are part of this core. In addition, this core comprises Petty’s theory of urbanization according to which cities can promote the division of labor by reducing trans- action costs (Petty, 1683, pp. 471–2), and Turgot’s conjecture on the relationship between the division of labor, the introduction of money, the extension of commerce, and the accumulation of capital (Turgot, 1766).2 We refer to this core of classical mainstream economics as classical development economics. The policy prescription of classical development economics is represented by this state- ment by Smith, which is consistent with Britain’s liberal policy regime in the seventeenth to nineteenth centuries, as well as with liberalization policy reforms in nineteenth-century western Europe:3 “Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and tolerable administration of justice; all the rest being brought about by the natural course of things” (cited in Jones, 1981, p.
    [Show full text]
  • Prices, Politics and Persuasion: the Case of Pollution Control and Clean Technology Adoption
    DEPARTMENT OF ECONOMICS ISSN 1441-5429 DISCUSSION PAPER 26/13 Prices, Politics and Persuasion: The Case of Pollution Control and Clean Technology Adoption Wenli Cheng*, Dingsheng Zhang and CEMA, Central University of Finance and Economics Abstract This paper presents three simple models to study how prices, politics and persuasion may each play a role in environmental policymaking. Our conclusions are twofold. First, in the absence of increasing returns, requiring the polluting industry to purchase pollution permits can internalize the negative externality of pollution, and the optimal price of pollution permits should increase with the disutility of pollution. Second, with increasing returns in the industry using clean technologies, it is welfare enhancing to complement the pollution permits policy with a tax-funded subsidy to the clean industry, or with a tax-funded public campaign to persuade consumers to move away from the pollution generating goods. JEL classification: D83, H23 Keywords: pollution permits, increasing returns; advertising *Corresponding author: Department of Economics, Monash University, Caulfield, Vic. 3145,Australia. Tel: 61 3 9903 1566, Email: [email protected] Dingsheng Zhang IAS and EMS, Wuhan University © 2013 Wenli Cheng*, Dingsheng Zhang and CEMA, Central University of Finance and Economics All rights reserved. No part of this paper may be reproduced in any form, or stored in a retrieval system, without the prior written permission of the author. 1 Prices, Politics and Persuasion: The Case of Pollution Control and Clean Technology Adoption 1. Introduction Kenneth Boulding (1981) succinctly summarizes the main coordination processes of human activities with three “p” words: prices, politics, and preachment. “Prices” refer to the market mechanism.
    [Show full text]
  • WELFARE ECONOMICS and SUSTAINABLE DEVELOPMENT – Vol
    WELFARE ECONOMICS AND SUSTAINABLE DEVELOPMENT – Vol. I – Welfare Economics and Sustainable Development - Yew-Kwang Ng, Ian Wills WELFARE ECONOMICS AND SUSTAINABLE DEVELOPMENT Yew-Kwang Ng Department of Economics, Monash University, Australia, and Department of Economics, National University of Singapore, Singapore. Ian Wills Department of Economics, Monash University, Australia Keywords: sustainable development, environmental disruption, environmental quality, environmental protection, welfare economics, weak sustainability, strong sustainability, exhaustible resources, natural capital, man-made capital, total capital, net national product, market failures, external costs, discounting, intertemporal equity, ignorance, irrationality, advertising, relative income, conspicuous consumption, economic growth, international trade, free trade, globalization, happiness, international cooperation, United Nations, property rights, ownership, charges, taxes, public goods, public bad, incentive compatibility, myopia, utility, welfare, time preference, interest rate, quality of life, environmental countervailing tariffs, abatement, welfare maximization. Contents 1. Welfare Economics of Sustainable Development 1.1. Sustainable Development and Welfare Maximization: Are They Compatible? 1.1.1. The Concept of Sustainable Development: Weak versus Strong Sustainability 1.2. Practical Consistency of Welfare Maximization and Sustainable Development 1.2.1. Threats to Sustainability 2. Economic Growth and Welfare: Intertemporal Perspectives of Sustainability
    [Show full text]
  • Markup Middleman
    Department of Economics Issn 1441-5429 Discussion paper 24/10 On the Emergence and Evolution of Mark-up Middlemen: An Inframarginal Model Chun Pang1 and He-ling Shi2 Abstract This paper is aimed to provide an economic interpretation on the emergence and evolution of the specialised middlemen whose duty is to facilitate the transactions of goods and services in an economy. In a general equilibrium framework, the emergence and evolution of the specialised middlemen conforms to Adam Smith’s insight of deepening specialisation and the division of labour with the improvement in institutions and/or transaction technologies. Consequently, the emergence and the growth of the intermediation sector in both absolute and relative terms, the expansion of the network which provides transaction services, the evolution of market structure from autarky towards division of labour, the improvement in productivity, the reduction in wholesaling-retailing price dispersion, will be realised in concurrency JEL Classification: L14, M21, O43 Keywords: middlemen, transaction efficiency, inframarginal economics 1 Research Centre of Division of Labour and Inframarginal Economics, Nanjing Audit University , Nanjing, Jiangsu, Province, P.R. China 2 Department of Economics, Monash University, Australia Correspondence to: He-ling Shi, Department of Economics, Monash University, Clayton, Vic 3800, Australia. Email: [email protected]. © 2010 Chun Pang and He-ling Shi All rights reserved. No part of this paper may be reproduced in any form, or stored in a retrieval system, without the prior written permission of the author 1. Introduction The importance of market intermediation has been long recognized in literature. Jones (1936) investigated retail stores in the United States in the years between 1800 and 1860 and found that as transportation and communication facilities became better, the number of retailing outlets increased and the competition intensified.
    [Show full text]
  • Exploring Formation Mechanism of Medical Collaborative Practices in Multi-Level Market from an Infra-Marginal Perspective
    Exploring Formation Mechanism of Medical Collaborative Practices in Multi-level Market from an Infra-marginal Perspective Sufen Wang ( [email protected] ) DongHua University Research Keywords: medical collaborative practice, neoclassical economics, infra-marginal analysis, medical transaction service, multi-level market Posted Date: April 5th, 2021 DOI: https://doi.org/10.21203/rs.3.rs-351971/v1 License: This work is licensed under a Creative Commons Attribution 4.0 International License. Read Full License Exploring Formation Mechanism of Medical Collaborative Practices in Multi-level Market from an Infra-marginal Perspective Sufen Wang1* Abstract Purpose: The purpose of this paper to explore a set of methods to formally display and analyze the nature and laws of the emergence and evolution of all kinds of medical collaborative practices (MCPs) within multi-level market. Methodology: Based on Yang’s neoclassical economics, the paper argues that the reason for the origin of MCPs with multi-level market is the division of labor for different medical services and medical transaction service. From an infra-marginal perspective, the study processes are (1) to build a role generation model for collaborators. (2) to determine the role boundaries of collaborators by calculating the corner solution, and formalize the entanglement between role identities and specific MCPs through the corner equilibrium analysis. (3) to evaluate the stability of different forms of MCPs by general equilibrium analysis, and analyze their possible evolutionary paths of various MCPs by sensitivity analysis of the stability conditions of different structures. Results: (1) A role generation model of "producer-consumer", which is composed of three functions and involves three economic parameters, reflects the coexistence of division and cooperation, and integrate the influencing factors with process views.
    [Show full text]
  • Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C
    Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Minimum Wages and Consumer Credit: Impacts on Access to Credit and Traditional and High-Cost Borrowing Lisa J. Dettling and Joanne W. Hsu 2017-010 Please cite this paper as: Dettling, Lisa J., and Joanne W. Hsu (2017). \Minimum Wages and Consumer Credit: Impacts on Access to Credit and Traditional and High-Cost Borrowing," Finance and Eco- nomics Discussion Series 2017-010. Washington: Board of Governors of the Federal Reserve System, https://doi.org/10.17016/FEDS.2017.010r1. NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors. References in publications to the Finance and Economics Discussion Series (other than acknowledgement) should be cleared with the author(s) to protect the tentative character of these papers. Minimum Wages and Consumer Credit: Impacts on Access to Credit and Traditional and High-Cost Borrowing Lisa J. Dettling Joanne W. Hsu Federal Reserve Board Federal Reserve Board This version: October 20, 2017* Click here for current version Abstract Proponents of minimum wage legislation point to its potential to raise earnings and reduce poverty, while opponents argue that disemployment effects lead to net welfare losses. But these arguments typically ignore the possibility of spillover effects on other aspects of households’ financial circumstances. This paper examines how state-level minimum wages affect the decisions of lenders and low-income borrowers.
    [Show full text]
  • Download File
    Pattern of Trade and Economic Development in the Model of Monopolistic Competition Jeffrey D. Sachs, Xiaokai Yang, and Dingsheng Zhang CID Working Paper No. 14 April 1999 © Copyright 1999 Jeffrey D. Sachs, Xiaokai Yang, Dingsheng Zhang, and the President and Fellows of Harvard College Working Papers Center for International Development at Harvard University CID Working Paper no. 14 Pattern of Trade and Economic Development in the Model of Monopolistic Competition Jeffrey D. Sachs, Xiaokai Yang, and Dingsheng Zhang Abstract The paper introduces differences in production and transaction conditions between countries into the model of monopolistic competition to investigate the interplay between trade policies and development strategies. It applies inframarginal analysis, which is total benefit analysis between corner solutions in addition to marginal analysis of each corner solution, to show that as transaction conditions are improved, the general equilibrium may discontinuously jump across different patterns of trade and economic development. It compares the marginal and inframarginal comparative statics of equilibrium in the model of monopolistic competition with the core theorems in the neoclassical trade models and with conventional wisdom in development economics. It shows that as analytical framework is altered, the meanings of concepts and related empirical observations will be changed too. Keywords: trade pattern, development strategy, income distribution, terms of trade JEL codes: F12, F13, O10 Jeffrey D. Sachs is the Director of the Center for International Development and the Harvard Institute for International Development, and the Galen L. Stone Professor of International Trade in the Department of Economics. His current research interests include emerging markets, global competitiveness, economic growth and development, transition to a market economy, international financial markets, international macroeconomic policy coordination and macroeconomic policies in developing and developed countries.
    [Show full text]
  • CID Working Paper No. 009 :: an Inframarginal Analysis of The
    An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage Wen Li Cheng, Jeffrey D. Sachs, and Xiaokai Yang CID Working Paper No. 9 April 1999 © Copyright 1999 Wen Li Cheng, Jeffrey D. Sachs, Xiaokai Yang, and the President and Fellows of Harvard College Working Papers Center for International Development at Harvard University CID Working Paper no. 9 An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage Wen Li Cheng, Jeffrey D. Sachs, and Xiaokai Yang* Abstract In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization theorem. The refined core theorems can be used to accommodate recent empirical evidence that is at odds with the core theorems. Keywords: H-O theorem, factor equalization theorem, Stolper-Samuelson theorem, Rybczynski theorem JEL classification: F10, F11 Jeffrey D. Sachs is the Director of the Center for International Development and the Harvard Institute for International Development, and the Galen L. Stone Professor of International Trade in the Department of Economics. His current research interests include emerging markets, global competitiveness, economic growth and development, transition to a market economy, international financial markets, international macroeconomic policy coordination and macroeconomic policies in developing and developed countries. Xiaokai Yang is a Research Fellow at the Center for International Development. His research interests include equilibrium network of division of labor, endogenous comparative advantages, inframarginal analysis of patterns of trade and economic development. Wen Li Cheng is a senior economist with Law & Economics Consulting Group.
    [Show full text]
  • Epub Institutional Repository
    ePubWU Institutional Repository Jorge Morales Meoqui Classical Free Trade: A Policy Towards Economic Growth and Development Thesis Original Citation: Morales Meoqui, Jorge (2010) Classical Free Trade: A Policy Towards Economic Growth and Development. Doctoral thesis, WU Vienna University of Economics and Business. This version is available at: https://epub.wu.ac.at/2952/ Available in ePubWU: January 2011 ePubWU, the institutional repository of the WU Vienna University of Economics and Business, is provided by the University Library and the IT-Services. The aim is to enable open access to the scholarly output of the WU. http://epub.wu.ac.at/ DOKTORAT DER SOZIAL- UND WIRTSCHAFTSWISSENSCHAFTEN 1. Beurteilerin/1. Beurteiler: a.o.Univ.Prof.Dr. Joachim Becker 2. Beurteilerin/2. Beurteiler: a.o.Univ.Prof.Doz.Dr. Andreas Novy Eingereicht am: Titel der Dissertation: Classical Free Trade: A Policy Towards Economic Growth and Development Dissertation zur Erlangung des akademischen Grades einer Doktorin/eines Doktors der Sozial- und Wirtschaftswissenschaften an der Wirtschaftsuniversität Wien eingereicht bei 1. Beurteilerin/1. Beurteiler: a.o.Univ.Prof.Dr. Joachim Becker 2. Beurteilerin/2. Beurteiler: a.o.Univ.Prof.Doz.Dr. Andreas Novy von Mag. Jorge Morales Meoqui Fachgebiet: Außenwirtschaft Wien, im Dezember 2010 Ich versichere: 1. dass ich die Dissertation selbständig verfasst, andere als die angegebenen Quellen und Hilfsmittel nicht benutzt und mich auch sonst keiner unerlaubten Hilfe bedient habe. 2. dass ich diese Dissertation bisher weder im In- noch im Ausland (einer Beurteilerin/ einem Beurteiler zur Begutachtung) in irgendeiner Form als Prüfungsarbeit vorgelegt habe. 3. dass dieses Exemplar mit der beurteilten Arbeit übereinstimmt. Datum Unterschrift Abstract The central aim of this dissertation is to make an unambiguous international trade policy recommendation for developing countries grounded on rigorous economic theory.
    [Show full text]