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Imperfect Competition and International Trade

Editor

Listed:
  • Gene M. Grossman
    ()

    (Princeton University)

Abstract

The last decade has seen an important extension of the theory of international trade to include imperfectly competitive market structures. This book collects 19 of the most influential articles on trade with imperfect competition, providing ready access to current research by top-level economists. Following an introduction by Grossman that surveys the literature, the readings cover such important topics as the causes and consequences of intraindustry trade, the effects of tariffs and quantitative restrictions in oligopolistic settings, the welfare consequences of strategic trade policies, the raison d'être for multinational corporations, the determinants of innovation, and the interaction between technological progress and trade. The recent work on trade incorporating imperfect competition can help to explain the high volume of intraindustry trade between similarly endowed countries and can account for the increasing importance of multinational corporations in the conduct of international trade. It can predict the emergence of cross-country technology gaps and can help to identify the determinants of dynamic comparative advantage. The explorations of trade with imperfect competition have also deepened substantially our understanding of the costs and benefits of trade policy. We now know why governments may be motivated to assist their national firms in global oligopolistic competitions, and we also know the limitations of the arguments in support of strategic trade policies.

Suggested Citation

  • Gene M. Grossman (ed.), 1992. "Imperfect Competition and International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262570939, January.
  • Handle: RePEc:mtp:titles:0262570939
    as

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    References listed on IDEAS

    as
    1. Van Wijnbergen, Sweden, 1986. "On fiscal deficits, the real exchange rate and the world rate of interest," European Economic Review, Elsevier, vol. 30(5), pages 1013-1023, October.
    2. Tabellini, Guido & Alesina, Alberto, 1990. "Voting on the Budget Deficit," American Economic Review, American Economic Association, vol. 80(1), pages 37-49, March.
    3. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
    4. Sutherland, Alan, 1997. "Fiscal crises and aggregate demand: can high public debt reverse the effects of fiscal policy?," Journal of Public Economics, Elsevier, pages 147-162.
    5. Menahem E. Yaari, 1965. "Uncertain Lifetime, Life Insurance, and the Theory of the Consumer," Review of Economic Studies, Oxford University Press, vol. 32(2), pages 137-150.
    6. Robert Summers & Alan Heston, 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 327-368.
    7. Uzawa, H, 1969. "Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 77(4), pages 628-652, Part II, .
    8. van Wijnbergen, Sweder, 1987. "Tariffs, Employment and the Current Account: Real Wage Resistance and the Macroeconomics of Protectionism," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(3), pages 691-706, October.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. James R. Tybout, 2000. "Manufacturing Firms in Developing Countries: How Well Do They Do, and Why?," Journal of Economic Literature, American Economic Association, pages 11-44.
    2. Suleyman Basak & Anna Pavlova, 2004. "Monopoly power and the firm’s valuation: a dynamic analysis of short versus long-term policies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), pages 503-530.
    3. Dietzenbacher, Erik, 2004. "International convergence and divergence of material input structures: an industry-level perspective," GGDC Research Memorandum 200470, Groningen Growth and Development Centre, University of Groningen.
    4. Mikael Petitjean, 2000. "Les effets de la globalisation sur les inégalités régionales : quelques apports fondamentaux de l'économie géographique," Revue Tiers Monde, Programme National Persée, vol. 41(164), pages 775-790.
    5. Kopp, Andreas, 1993. "The effects of trade liberalization with spatial markets," Kiel Working Papers 610, Kiel Institute for the World Economy (IfW).
    6. Nowak-Lehmann D., Felicitas, 2003. "Trade Policy and its Impact On Economic Growth: The Chilean Experience in the Period of 1960 to 1998," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 3(2).
    7. Lambertini, Luca & Rossini, Gianpaolo, 2006. "Investment in transport and communication technology in a Cournot duopoly with trade," Japan and the World Economy, Elsevier, vol. 18(2), pages 221-229, March.
    8. Ronald Fischer, 2008. "Política comercial estratégica en el mercado aéreo chileno," Documentos de Trabajo 246, Centro de Economía Aplicada, Universidad de Chile.
    9. repec:dgr:rugggd:200470 is not listed on IDEAS
    10. Hakim Ben Hammouda & Patrick N. Osakwe, 2008. "Global Trade Models and Economic Policy Analyses: Relevance, Risks and Repercussions for Africa," Development Policy Review, Overseas Development Institute, vol. 26(2), pages 151-170, March.
    11. Bacchiega, Emanuele & Randon, Emanuela & Zirulia, Lorenzo, 2012. "Strategic accessibility competition," Research in Economics, Elsevier, vol. 66(2), pages 195-212.
    12. Wilfred J. Ethier & Arye L. Hillman, 2017. "The Politics of International Trade," CESifo Working Paper Series 6456, CESifo Group Munich.
    13. Markusen, James R. & Melvin, James R. & Maskus, Keith E. & Kaempfer, William, 1995. "International trade: theory and evidence," MPRA Paper 21989, University Library of Munich, Germany.
    14. Hwan Lin, 1998. "Import-Subsidy Coordination and the Gains from International Diffusion Of Differentiated Middle Products," International Economic Journal, Taylor & Francis Journals, vol. 12(2), pages 55-76.
    15. Sanusi, Aliyu Rafindadi, 2008. "Openness and growth in Sub-Saharan Africa: Time series and cross-country analysis," MPRA Paper 29493, University Library of Munich, Germany.
    16. Joseph F. Francois & Henrik Horn, 1998. "Competition Policy in an Open Economy," Tinbergen Institute Discussion Papers 98-092/2, Tinbergen Institute.
    17. Basak, Suleyman & Pavlova, Anna, 2004. "Monopoly Power and the Firm€ٳ Valuation:," Working papers 4234-01, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    18. repec:dgr:rugccs:200402 is not listed on IDEAS
    19. Carmela Martín, 1995. "The impact of EU trade agreement with central and eastern european countries : the case of Spain," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 95-09, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
    20. Maria Papadakis, 1994. "Did (or does) the United States have a competitiveness crisis?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 13(1), pages 1-20.
    21. Beccarello, Massimo, 1997. "Time series analysis of market power: Evidence from G-7 manufacturing," International Journal of Industrial Organization, Elsevier, vol. 15(1), pages 123-136, February.
    22. Dietzenbacher, Erik, 2004. "International convergence and divergence of material input structures: an industry-level perspective," CCSO Working Papers 200402, University of Groningen, CCSO Centre for Economic Research.

    More about this item

    Keywords

    imperfect competition; international trade;

    JEL classification:

    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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