The Role of Intra-industry Trade in the World Economy
The concept that the world economy is becoming more integrated is now common place. Terms such as “globalization” or “internationalization” have been integrated into our everyday vocabulary. Over the last several decades, globalization has become a twoway street as goods flow more freely over national borders than any time in recent memory. International travel has gone from being a luxury for the privileged few to being common place for even the middle class in OECD countries. Trillions of dollars flow from one financial market to another every day and foreign direct investment (FDI) has become a large part of total investment in the world economy. Even labor moves among countries much more freely than was once the case.
|Date of creation:||Mar 2012|
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- World Bank, 2004. "World Development Indicators 2004," World Bank Publications, The World Bank, number 13890, April.
- Krugman, Paul, 1980. "Scale Economies, Product Differentiation, and the Pattern of Trade," American Economic Review, American Economic Association, vol. 70(5), pages 950-59, December.
- Greenhut, Melvin L & Ohta, Hiroshi & Sailors, Joel, 1985. "Reverse Dumping: A Form of Spatial Price Discrimination," Journal of Industrial Economics, Wiley Blackwell, vol. 34(2), pages 167-81, December.
- Mahmudul Anam & Shin--Hwan Chiang, 2003. "Intraindustry Trade in Identical Products: a Portfolio Approach," Review of International Economics, Wiley Blackwell, vol. 11(1), pages 90-100, February.
- Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June.
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