The Discipline of International Trade
International economics has distinguishing characteristics which make it a unique sub-field in economics. It is vitally concerned with the co-existence of markets with overlapping domains - some markets are national and some international, with different rules applicable to residents of different countries. This paper describes various ways in which these markets interact, and how such basic propositions as factor-price equalization emerge as core results of the theory. Countries wish to preserve some control over certain markets, e.g. labor markets and a variety of services. As a consequence, free trade in all markets is not "optimal", even for a small country.
Volume (Year): 131 (1995)
Issue (Month): III (September)
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- Jones, R.W. & Marjit, S., 1992. "International Trade and Endogenous Production Structures," RCER Working Papers 312, University of Rochester - Center for Economic Research (RCER).
- Ronald W. Jones & Sugata Marjit, 1995.
"Labour-Market Aspects of Enclave-Led Growth,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 28(s1), pages 76-93, November.
- Markusen, James R., 1983. "Factor movements and commodity trade as complements," Journal of International Economics, Elsevier, vol. 14(3-4), pages 341-356, May.
- Ronald W. Jones, 1980. "Comparative and Absolute Advantage," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 116(III), pages 235-260, September.
- Jeremy Greenwood & Kent P. Kimbrough, 1987. "An Investigation in the Theory of Foreign Exchange Controls," Canadian Journal of Economics, Canadian Economics Association, vol. 20(2), pages 271-88, May.
- Sanyal, Kalyan K & Jones, Ronald W, 1982. "The Theory of Trade in Middle Products," American Economic Review, American Economic Association, vol. 72(1), pages 16-31, March.
- Neary, J Peter, 1985. "International Factor Mobility, Minimum Wage Rates, and Factor-Price Equalization: A Synthesis," The Quarterly Journal of Economics, MIT Press, vol. 100(3), pages 551-70, August.
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