The Essence of International Trade Theory

International Economics, International Trade

Authors : Noritsugu Nakanishi (Kobe University, Japan)

Publisher : World Scientific

ISBN : 978-981-3273-81-8

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This textbook aims to explain the principles in international trade theory and show how some useful trade models work. The book concentrates on two fundamental issues in international trade, that is, the "determinants of trade patterns" and the "welfare gains from trade" in various economic environments. Chapters 1 through 3 assume perfect competition and explore the workings of the Ricardian model, the Heckscher-Ohlin-Samuelson model, the Specific Factors model and more recent development of the Eaton-Kortum model. Chapter 4 examines various welfare criteria and their relation to the "social utility function" and, then, proves the basic gains-from-trade proposition. Chapters 5 and 6 examine the implications of imperfect competition using a unified oligopolistic model and variations of the monopolistically competitive model. The roles of the strategic interaction among firms, the economies of scale, product differentiation, the heterogeneity of firms, and the geographic distribution of agents will be highlighted. Chapter 7 deals with some trade policy issues such as the effects of tariffs, the relation of tariffs to other policy measures, and the so-called strategic trade policies.
Noritsugu Nakanishi is a professor of economics at the Graduate School of Economics, Kobe University, Japan. He began studying economics at Hiroshima University, Japan. After he obtained the doctoral degree in economics from Kobe University in 1991, he joined the faculty of Kobe University and was promoted to full professor in 2004. His research interests are in both the general equilibrium aspects of international trade theory and the application of game theory to trade policy issues. He edited and authored two textbooks on international economics and also wrote two monographs on trade policy issues (all in Japanese). His research articles can be found in some academic journals such as Journal of International Economics, Review of International Economics, International Economic Review, Games and Economic Behavior, and International Journal of Game Theory. As an expert in international economics, he has long been an executive member of the Japan Society of International Economics (JSIE). He was awarded the Kojima Kiyoshi Prize of the JSIE in 2014 and served the Presidency of the JSIE from 2016 to 2018.
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