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 Antràs 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:||Feb 2010|
|Publication status:||published as Pol Antrás & Arnaud Costinot, 2010. "Intermediation and Economic Integration," American Economic Review, American Economic Association, vol. 100(2), pages 424-28, May.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- Marcel Fafchamps & Ruth Vargas Hill, 2005.
"Selling at the Farmgate or Traveling to Market,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 87(3), pages 717-734.
- 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.
- 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.
- Antras, Pol & Costinot, Arnaud, 2011.
4784024, Harvard University Department of Economics.
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