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East-West Trade and Economic Systems

In: Economic Relations between East and West

Author

Listed:
  • Philip Hanson

    (University of Birmingham)

Abstract

Trade between East and West is small. Commodity trade between socialist* and OECD countries in 1974 was only 3 per cent of world commodity trade. There are, I think, three main reasons for this. First, the two groups of countries are separated by profound political suspicions of one another. Second, their attempts to trade are hampered by differences of economic system. Third, the West is richer than the East, and the rich have a distressing preference for selling things to one another.

Suggested Citation

  • Philip Hanson, 1978. "East-West Trade and Economic Systems," International Economic Association Series, in: Nita G. M. Watts (ed.), Economic Relations between East and West, chapter 6, pages 87-105, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-16000-6_7
    DOI: 10.1007/978-1-349-16000-6_7
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    Cited by:

    1. Victor Aguirregabiria & Jesus Carro, 2021. "Identification of Average Marginal Effects in Fixed Effects Dynamic Discrete Choice Models," Working Papers tecipa-701, University of Toronto, Department of Economics.
    2. Christoph Breunig & Patrick Burauel, 2021. "Testability of Reverse Causality without Exogeneous Variation," Papers 2107.05936, arXiv.org.

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