Intermediation and Economic Integration
The theory of international trade has paid scant attention to market institutions. Neither neoclassical theory nor new trade models typically specify the process by which supply and demand meet. Yet in the real world, intermediaries play a central role in materializing the gains from exchange outlined by standard trade theories. In AntrÃ s and Costinot (2010), we have developed a stylized but explicit model of intermediation in trade. In this short paper, we present a variant of this model that illustrates the potential role of intermediaries in facilitating the realization of the gains from trade.
|Date of creation:||2010|
|Date of revision:|
|Publication status:||Published in The American Economic Review|
|Contact details of provider:|| Postal: Littauer Center, Cambridge, MA 02138|
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- Gordon H. Hanson & Robert C. Feenstra, 2001.
"Intermediaries in Entrepot Trade: Hong Kong Re-Exports of Chinese Goods,"
NBER Working Papers
8088, National Bureau of Economic Research, Inc.
- Robert C. Feenstra & Gordon H. Hanson, 2004. "Intermediaries in Entrepot Trade: Hong Kong Re-Exports of Chinese Goods," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 13(1), pages 3-35, 03.
- Antràs, Pol & Costinot, Arnaud, 2010.
CEPR Discussion Papers
7696, C.E.P.R. Discussion Papers.
- Marcel Fafchamps & Ruth Hill, 2004.
"Selling at the Farm-Gate or Travelling to Market,"
Economics Series Working Papers
WPS/2004-30, University of Oxford, Department of Economics.
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