Chapter 5 International Trade Theory国际贸易理论
第五章 国际贸易理论international trade theory 查尔斯·希尔 中文ppt
这种过程的一个结果， 是一国内成功的产业 倾向形成群聚。群聚是重要的，因为有价值 知识能在地理上聚集的公司间流动，且对群 聚内的所有公司有益
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国家竞争优势：波特理论
公司策略、结构及竞争状况
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比较利益理论
根据李嘉图的比较利益理论，一国应专门 生产其最有效率的产品，而向他国购买生 产效率较低的产品，即使该进口品在他国 生产效率比本国还差
案例：迦纳与南韩生产稻米或可可的议题
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绝对利益理论
图 5.1 绝对利益理论
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绝对利益理论
表 5.1 绝对利益及贸易利得
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绝对利益理论
表 5.1 绝对利益及贸易利得（续）
当代国际企业
Chapter 5 国际贸易理论
6e
© The McGraw-Hill Compani自由贸易：政府不以限额或税金的方式， 影响国家间商品和服务的自由流通
李嘉图提出比较利益理论 海克斯和欧林修正李嘉图理论，提出海克
斯－欧林理论
5-2 © The McGraw-Hill Companies, Inc., 2010
国家竞争优势：波特理论
需求状况
产业产品或服务之国内需求的本 若一国消费者非常精明挑剔，则该国厂商会
国际商务International Business (Charles W.L. Hill 第七版)
Absolute Advantage
Without trade: ❖Ghana would produce 10 tons of cocoa and 5 tons of rice ❖ South Korea would produce 10 tons of rice and 2.5 tons of cocoa
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Absolute Advantage
After trade: ❖Ghana would have 14 tons of cocoa left, and 6 tons of rice ❖South Korea would have 14 tons of rice left and 6 tons of cocoa ❖Both countries gained from trade
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Absolute Advantage
❖In South Korea it takes 40 units of resources to produce one ton of cocoa and 10 resources to produce one ton of rice ❖So, South Korea could produce 5 tons of cocoa and no rice, 20 tons of rice and no cocoa, or some combination in between ❖Ghana has an absolute advantage in the production of cocoa ❖South Korea has an absolute advantage in the production of rice
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国际贸易实务课后习题
Chapter 1 International Trade1.What are the reasons for international trade?There are three main reasons: resource reasons, economic reasons, and political reasons. The resource reasons refer to the uneven distribution of resources such as natural resources, capital, and labor. The economic reasons are explained by the principal of absolute advantage and the principal of comparative advantage. Besides, nations are motivated to trade or not to trade with each other by international and domestic political needs.2.What is the principal of comparative advantage?Created by David Ricardo, the principal of comparative advantage is a basic theory for specialization and trade which says trade will benefit both nations provided only that their relative costs, that is, the ratios of their real costs measured by labor-hour or another commodity, are different for two or more commodities. In other words, trade depends on differences in comparative cost or opportunity cost, and one nation can profitably trade with another even though its real costs are higher (lower) in every commodity.3.What are the benefits of international trade?The benefits of international trade include cheaper goods, more choices of goods, wider market for domestic producers, and the growth of domestic and world economy.4. Why does trade protectionism still exist despite the benefits of international trade?Trade protectionism exists for economic and political reasons. Nations want to protect their infant industries and jobs from foreign competition, to maintain balance of payment, and not to support their foes.5.Want are some of the forms of trade restrictions?Trade restrictions take the forms of tariff barriers and non-tariff barriers.6.What is a tariff barrier and what is a non-tariff barrier?A tariff barrier is a direct monetary burden to discourage trade in which a duty or fee is levied on goods being imported into (or exported out of) a country. A non-tariff barrier, on the other hand, is not directly a monetary burden though it often costs more time and money. Non-tariff barriers include quota, license, foreign exchange control, technical standards, and regulations, etc.Terms1. A tariff: is a duty or fee that is levied on goods being imported into (or exported out of) acountry.2.Surtax: is an additional tax. It may also be temporary and discriminatory. In internationaltrade, import surtax is often collected to cope with international payment difficulties and to prevent dumping.3.Anti-dumping duty: is a fee that is collected by the importing country when it believes thatthe exporting country is selling a significant amount goods to the importing country at prices much lower than in the exporting country.4.Specific duty: is a tax of a certain sum assessed and collected on an article without referenceto its value or market.5.Ad valorem duty: is a tax which is graded according to the cost, or market value, of thearticle taxed.6. A quota: is a quantitative restriction or an upper limit in terms of physical quantity or value.7.An import license: is a permit for import issued by the government to control the import ofgoods.8.Foreign exchange control: means various forms of restriction imposed by a government onthe purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.Chapter 2 Terms of Delivery1.What are the key issues that a contract must spell out clearly?Seller’s and buyer’s responsibilities and associated costsTime and place of deliveryDocuments and expensesTitle to the goods2.Why are Incoterms created?Incoterms are created to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree.3.How are the terms structured in Incoterms?The terms are grouped in four basically different categories: E-term, F-terms, C-terms, and D-terms. E-term requires the seller to make the goods available to the buyer usually at the seller’s own premises. F-terms require the seller to deliver the goods to a carrier appointed and paid by the buyer. C-terms require the seller to contract and pay for carriage without assuming the risk of loss of or damage to the goods or additional costs due to events occurring after shipment and dispatch. D-terms require the seller to bear all costs and risks needed to bring the goods to the place of destination.4.Do you have to use Incoterms in every transaction? Why or why not?No, sellers and buyers don’t need to use Incoterms in their transaction because Incoterms are created only to provide an option, not an obligation.5.What should be considered in the choice of terms of delivery?Transport capacityCustomer’s locationFreight rateLoading/unloading facilities and local port customRisks in transitChapter 3 Cargo Packaging, Stowage & Marking1.Generally speaking, what are the main reasons for cargo packaging?Generally speaking, there are four main reasons for cargo packaging:a.protective function that essentially involves protecting the contents from the environment andvice versa;b.loading and transport function that requires proper packaging design for easy handling andspace-saving transportationc.stowage function that facilitates stowage and distribution; andd.promotion function that helps generate product awareness and sales2.The protective function of packaging essentially involves protecting the contents fromthe environment. Is this statement true or false and why?This statement is only partially true because the protective function of packaging involves protecting people and the environment, not only the contents, particularly for hazardous materials.3.What is the most efficient method of handling general cargo?The most efficient method of handling general cargo is to make up cargo unit.4.What are the main factors influencing types of cargo packaging?The main factors influencing types of cargo packaging are:a.nature of cargo;b.transport;c.Customs and statutory requirements;d.Insurance acceptance conditions;e.Cost; andf.Ease of handling and stowage5.What should be considered in the stowage of cargo?The following should be considered in the stowage of cargo:a.observation of weight limitations and distributions;b.prevention of damage to transport vehicle;c.best use of available deadweight or cubic capacity to minimize the broken stowage;d.avoidance of mixing incompatible cargo;e.plan for ease of unloading6.What purposes does correct and complete marking serve?Correct and complete marking of packages helps prevent incorrect handling, accidents, incorrect delivery, losses of weight and volume and Customs fines7.What are the main types of marks?The main types of marks include shipping marks, information marks, indicative marks and warning marks.8.What are the marking requirements?The marking requirements are internationality, visibility, legibility and indelibilityChapter 4 Transport1.What are the key differences between liners and tramps?A liner operates over a regular route according to an advertised time-table but a tramp does not operate this way. Instead, a tramp is a vessel hired to pick up cargo from almost any port and go directly to the port of destination.2.What does the abbreviation FIO stand for? What does it mean?FIO stands for “free in and out”, which means that the charterer of a vessel, not the ship operator, is responsible for the costs of loading and unloading.3.What key purposes does a B/L serve?A B/L serves three key purposes. First, it is evidence that a valid contract of carriage exists between the carrier and the shipper, and it may incorporate the full terms of the contract between them. Second, it is a receipt signed by the carrier confirming whether goods matching the contract description have been received from the shipper in good condition. Third, it is also a document of title, creating ownership of the goods shipped.4.What should a clause of shipment include?A clause of shipment should include time of shipment, port of shipment and port of destination, advice of shipment, partial shipment and transshipment.5.What is Air Waybill and what is the key difference between the document and an OceanB/L?An air waybill is a transport document issued by airlines or air cargo companies or their agents. The key difference between this document and an ocean B/L is that air waybill is not a title document. As a straight waybill, an air waybill is not transferrable or negotiable and a shipper does not lose his ownership of the cargo by handing the air waybill to the airline. However, as the buyer is named the consignee on the waybill and he/she can claim the consignment from the carrier by simply showing proof of identity.6.What is international multimodal transport?International multimodal transport is the carriage of goods by at least two different modes of transport on the basis of a multimodal transport contract from a place in one country at which the goods are taken in charge by the multimodal transport operator to a place designated for delivery situated in a different country.7.What are the general considerations in cargo transport?Reliability, speed and frequency, and cost.Chapter 5 Foreign exchange rate & Contract formation- Offer & Acceptance1.How is the exchange rate between any two currencies expressed?There are two ways to express the exchange rate between any two currencies, i.e., the price of Currency A can be quoted in terms of Currency B or vice versa. Depending on whether home currency is used to express the price of foreign currencies or foreign countries are used to express the price of home currency, we have direct quotation and indirect quotation.2.How many rates does a bank normally quote?Two, a buying (bid) rate and a selling（ask）rate.3.Why is exchange rate an important issue for international traders?While the exchange rates between currencies float, payment is normally made sometime after the contract is concluded. The final earnings in the home currency (if the contract currency is a foreign currency) will only be known with the prevailing exchange rate at the time the payment is made. A favorable exchange rate will give the exporter more home currency. On the other hand, an adverse movement of the exchange rates will bring him a loss in terms of home currency.4.How can we manage the exchange rate risks (foreign exchange risks)?There are a number of choices: choosing the right currency for a transaction, booking a forward contract, and using other products that banks offer.5.If you intend to make your offer indefinite, what can you do to avoid misinterpretation?If an offerer wants to make an offer indefinite, he should make clear reservations to avoid misinterpretation.6.How can you terminate an offer?An offer can be terminated by:The party offering may revoke the offer if no consideration has been given.The offer may lapse (either after a specified time, or it may just become stale).Offer may come to an end after a stipulated event occurs or does not occur.Offer may lapse on death of the party offeringOffer is killed by a counter-offer.7.Who can accept an offer?Only the offeree can accept an offer.8.What does acceptance mean to a contract?Since an acceptance indicates assent to an offer, it validates the contract and means that boththe offerer and the offeree will be bound by the terms and conditions in the offer.9.What is a counter-offer?A counter-offer is either the office’s proposal of a new set of terms for the transaction or his conditional acceptance by making actual, material changes in the offer.1.Foreign exchange: is the currency of any foreign country which is the authorized instrumentof settlement and the basis for record keeping in that country.2.Like any other commodities, a foreign exchange has a price, which is expressed in anothercurrency. Exchange rate is the price relationship between the currencies of two countries or the price of one currency in terms of the other.3.Offer rate（of foreign exchange）:is the price at which a bank is willing to sell foreignexchange to its customers4. A definite offer:is one that clearly expresses the offerer’s willingness in concluding atransaction by providing complete and clear information for the deal. Normally it includes all the necessary items for a transaction, specifies the time by which the offer is valid and the time the acceptance must be received, and uses the phrase “offer firm” meaning that the offer is made without reservations.5.An acceptance: is a statement made by the offeree indicating assent to an offer.。
国际贸易学课件--International Trade Theory
代表人物：托马斯·孟（Thomas Mun, 1571－
1641）
2020/9/30
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博弈论（Game theory）
一、田忌赛马、斗地主与《美丽心灵》
来，斗两把！
二、博弈模型的构成 ►博弈方（Players） ►策略（Strategies） ► 次序（Orders） ► 得益（Payoffs）
假设两个国家是“中国”和“美国”。两国 都生产“大米”和“小麦”，但生产技术不同。 劳动是唯一的生产要素，两国有相同的劳动力资 源，都是100 人。
2020/9/30
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表2-1：中国和美国的生产可能性
表2-2：中国和美国的劳动生产率
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Chapter 2： International Trade Theory
一、古典贸易理论（Classical Trade Theory） 二、新古典贸易理论（Neo-Classical Trade Theory ） 三、新贸易理论（New Trade Theory） 四、新新贸易理论（New New Trade Theory）
“劳动生产力上最大的增进、以及运用劳动时所 表现的更大的熟练、技巧和判断力、似乎都是分 工的结果。”
2020/9/30
Copyright by 钱学锋
分工的好处：
1、劳动者的技巧因业专而日进； 2、可以免除因工作转换而损失的时间； 3、有利于机械的发明。
男女搭配， 工作不累！
2020/9/30
Copyright by 钱学锋
绝对优势理论的意义和局限性
规模经济贸易理论
Intra-industry Trade
• Illustration
China Intra-sector Trade USA Cloth Rice
Chapter 5
Inter-sector Trade
Cloth Rice
SITC
1.
Chapter 5
SITC－是联合国推荐采用作为经济分析的贸易分类，每 一个货物编号的设计是由第一位数字的「类」、第二位数 字的「章」、第三位数字的「组」及最后两位数字的「条 目」所组成。 2. 国际贸易标准分类第三次修订本有3118 个基本条目，归 并为261 组67章和10类即
Chapter 5
中国的汽车代表性需求
• • 据中国汽车市场调查研究会提供的一分调查报告， 目前城市家庭购买汽车的价格档次如下： 比例最大的是10~15万元这一档车，占总量的40 ％； 9万元以下的占到２２％； 15万元～20万元的占到１９％； 20万元～30万元的占到１２％－１５％； 30万元以上的占到８％。 但是消费者表示，如果以后买车，它们的选择将 集中在10~20万元的档次（占30%）。
Chapter 5
夏利批量出口美国，引起强烈反响
•2002年6月10日一则《夏利批量出口美国》的消息引起市 场及媒体的强烈反响：首批装满252辆夏利轿车的运输卡车 今天下午驶向天津港，将于近日运往美国。这是我国国产经 济型轿车首次成批量对外出口。 •2002年4月，天汽集团与美国汽车销售网络控股公司在美国 签订了长期合作协议，由其在国际市场上独家代理销售夏利 轿车。按照双方所签协议，第一个合作有效期为5年。在此 有效期内，美国汽车销售网络控股公司的最低销售量将不低 于2．5万辆。按协议规定，第一批订单为252辆夏利三缸、 四缸两厢式及三厢式系列商品车和价值20万美元的配件。 •在美国分别拥有１２０家和３７５家零售店的ＵＡＧ和Ａ Ｎ公司也对经销夏利轿车表示了强烈的兴趣，并正积极申请 利用其连锁网络在全美经销夏利系列轿车。
Ch.5新贸易理论(国际经济学-华中科技大学,方齐云)
规模经济（Economy of Scale）或规模报酬递增（Increasing Return to Scale）
与外部经济（External Economy）
• 规模经济是指企业的产量提高时，企业生产的平均成本下 降，即规模经济或规模报酬递增是存在于企业内部的，因 而又称为内部经济（Internal Economy）或内部规模经济 (Internal Economy of Scale)。 • 外部经济是指当整个产业的产量（因企业数量的增加）扩 大时（企业外部的因素），该产业各个企业的平均生产成 本下降，因而有时也称为外部规模经济（External Economy of Scale）或范围经济（Economy of Scope）。 • 还有一种情况，是当一个国家某个产业的累积产量扩大时， 该产业各企业的平均成本下降，通常被称为动态的外部经 济（Dynamic External Economy），该产业随累积产量增加 而呈下降趋势的平均成本曲线，通常被称为学习曲线 （Learning Curve）。
•
• • • •
收益递增与国际贸易
• 在H—O理论中，由于假定两国的生产是在规模收 益不变的基础上进行的，这样就把可能引起贸易 的规模经济因素给假定掉了。在现实中，存在着 三种类型的生产，即：规模收益递增、规模收益 不变和规模收益递减。事实上，生产的规模收益 可以用微观经济学中的平均成本曲线来表示。如 图5—3中，平均成本的下降阶段代表生产的规模 收益递增（Increasing Return to Scale），平均成本 不变（平坦）阶段代表规模收益不变（Constant Return to Scale），而平均成本的上升阶段，则代 表规模收益递减（Decreasing Return to Scale）。
international(国际经济学)课后习题及答案
international（国际经济学）课后习题及答案----------------------- Page 1-----------------------Review Questions and Condensed Answers forInternational Trade TheoriesChapter 1 World Trade and the National EconomyReview Questions::::1( What features distinguish international from domestic transactions?2( What can you say about the growth of world trade in both nominal and real terms? Was itfaster than the growth of output?3( Evaluate the statement,” the United States is a closed economy, hence foreign trade is ofno consequence to it.”4( Distinguish between export industries, import-competing industries and nontraded goods.Give examples of each.5( Using the figure in table 1-3, what can you say about the trade structure of the USA andJapan.Condensed Answers to Review Questions::::1. The text discusses ways that international transactions differfrom domestic ones.i. International trade requires that transactions be conductedbetween twocurrencies mediated by an exchange rate. Domestic transactions are conductedin a single currency.ii. Commercial policies that operate to restrict international transactions cannot, ingeneral, be imposed on domestic trade. Such policies include tariffs, quotas,voluntary export restraints, export subsidies, and exchange controls.iii. Countries pursue different domestic macroeconomic policieswhich result indivergent rates of economic growth, inflation, and unemployment.iv. More statistical data exist on the nature, volume, and value of internationaltransactions than exist in domestic trade.v. Factors of production are more mobile domestically than internationally.vi. Countries exhibit different demand patterns, sales techniques,and marketingrequirements. Many of these are due to culture and custom. Someresult fromdifferences in government regulations. Included here are health, safety,environmental, and technical rules.2. The real volume of world exports grew at an annual rate of more than 6 percent between1950 and 2000. Global output grew at an annual rate of 4 percent. Export growth inexcess of output growth reflects the increased openness to trade of many countries.3. The United States is a relatively closed economy since the share of trade in GDP issmaller than that of most other industrial nations. In 2000, U.S. exports of goods andservices were 11 percent of GDP. The U.S. economy is less dependent on the foreignsector than other major economies, but to say that foreign trade is of no consequence is anexaggeration. The U.S. economy has become increasingly open and, therefore, moreimpacted by trade developments over time. This trend is likely to continue. Curtailingimports would, for example, have a big effect on consumers' ability to buy some goods----------------------- Page 2-----------------------(e.g. tropical products) and would raise the prices of others. The absence of certain keycommodities and material inputs would greatly disrupt areas of U.S. industry.4. a. Export industries send a substantial share of their output abroad. Ratios ofexports to GDP are much higher than the average ratio for all industries. Netexporting industries are those for which exports exceed imports. U.S. netexporting industries include farm products, chemicals, certain types of machinery,and aerospace products.b. Import-competing industries are domestic industries that sharethe domesticmarket with a substantial import presence. These activities haveratios ofimports to GDP that are much higher than the average ratio for all industries.U.S. import-competing industries include fuels, automobiles,clothing, footwear,and iron and steel.c. Nontraded goods are those which, because of their nature and characteristics, arenot easily exported or imported. Examples are hair-dressing, movie theaters,meals, construction activity, and health-care.5. Table 1.3 contains figures on the trade structure of the U.S. and Japan. The U.S. is a netexporter of food, certain ores, chemicals, and other machinery and transport equipment,and is a net importer of raw materials, mining products, fuels, nonferrous metals, iron andsteel, semimanufactures, office and telecommunications equipment, automotive products,textiles and clothing, and other consumer goods. Japan is a net exporter of iron and steel,chemicals, semimanufactures, office and telecommunications equipment, automotiveproducts, other machinery and transport equipment, and other consumer goods. Importsexceed exports in food, raw materials, and textiles and clothing.----------------------- Page 3-----------------------Chapter 2 Why Nations TradeReview Questions::::1( a. In what sense are the cost data of footnote 4 related to the figures of scheme 1?b. Based on the figures of footnote 4, determine the:Direction of trade once it develops.Limits to mutually beneficial trade.Limits to a sustainable exchange trade.2. Evaluate the following statements:a. In international trade, domestic cost ratios determine the limits of mutually beneficial trade,whereas demand considerations show where, within these limits, the actual exchange ratio will lie.b. Comparative advantage is a theoretical concept. It cannot be used to explain any real-worldphenomena.c. The opening up of trade raises the price of export goods; hence trade is inflationary.d. The concept of absolute advantage offers explainations for East Germany’s high unemploymentrates in the 1990s.3. a. Use the theory of comparative advantage to explain why it pays for:The USA to export grains and import oil.Russia to export oil and import grains.b. Why does the popular press believe that grain exports are inflnationary? What is wrongwith this porposition?Condensed Answers to Review Questions:1. a. Scheme 1 is based on labor productivity comparisons, while Footnote 4presentsper unit cost data. Production cost ratios are inversely related to productivitymeasures.b. i. Textiles will be exported from the U.K. and wheat from the U.S.ii. The U.S. will trade only if one yard of textiles costs less than3 bushels ofwheat. The U.K. will trade only if 1 yard of textiles can be exchangedfor more than 2 bushels of wheat.iii. The value of the ? must be between $1 and $1.502. a. Consider Figure 2.2. The domestic cost ratios define limits of mutually beneficialtrade. Within the region of mutually beneficial trade the actual exchange rate willbe determined by the relative intensity of each country's demand for the othercountry's product. A full analysis requires an understanding of reciprocal demandcurves, but the following general principle might help heuristically. If the Britishare more eager to buy U.S. wheat than the Americans are eager for British textiles,the exchange ratio falls close to the U.K. domestic cost ratio and the U.S. can beviewed as capturing a greater share of the gains from trade.b. Since the real world does not conform to the convenienttwo-country, two-goodassumptions, the simple theoretical model is not immediately applicable.However, we can generalize the model to many goods and many nations. Thefundamental truth remains. Countries export those goods in which their relativeproduction costs are lower and import those goods for which the relative costs arehigher.----------------------- Page 4-----------------------c. While trade tends to raise the prices of exportables in the domestic economy, theeffect of trade is to lower the average price level of all goods. Trade givesconsumers an opportunity to consume at lower world prices. Many goods will becheaper when purchased from foreign supply sources. Trade also conveysprocompetitive effects, stimulates the adoption of new technologies, and allowsfirms to achieve efficient scale production levels. Thus, trade is anti-inflationary.d. The reunification of the Germany economy in 1990 was undertaken on the basisthat a unit of the deutschmark, the West German currency, should be equal in valueto a unit of the ostmark, the East German currency. At this exchange rate, goodsproduced in East Germany were almost universally more expensive to producethan their counterparts in the West. Labor productivity in East Germanmanufacturing was found to be about 35% of the West German level. Underthese conditions the East German manufacturing sector collapsed. Investors werereluctant to purchase East German factories and large scale closures and dismissalsresulted.3. a. The U.S. enjoys a comparative advantage in grains. It also produces oil, but will gain byspecializing in grain production and using proceeds of exported agriculturalproducts to purchase oil from nations that produce oil relatively more efficiently.Russia is relatively more efficient in the production of oil and will gain bypurchasing grain from the U.S. in exchange for oil.b. The popular press asserts that by exporting grain from the U.S. (say to the former U R)we are lowering the domestic supply of grain and raising the domestic U.S. price of grain. Sincegrain is an important ingredient in many food products, grain exports are believed to increase theprice of those products. However, the price of grain is determined in world markets. U.S.exports alone cannot permanently raise the domestic U.S. price. If the domestic U.S. grainpricerose above the world price, the U.S. would be a net importer of grains and the domestic price wouldfall.----------------------- Page 5-----------------------Chapter 3 The Commodity Composition of TradeReview Questions::::1( Does the factor proportions theory provide a good explanation of intraindustry trade? Ifnot, can you outline an alternative explaination for the growing phenomenon?2( Explain the dynamic nature of comparative advantage using Japan’s experience as anexample.3( Once the United States acquires a comparative advantage in jet aircraft production it canbe sure of a dominant position in the global market forever. Do you agree with thisstatement? Explain.Condensed Answers to Review Questions1. The factor proportions theory is better suited to explain interindustry trade, or the exchangebetween countries of totally different commodities, than intraindustry trade, which is thetwo-way trade of similar commodities. The growth of intraindustry trade is greatest inimperfectly competitive industries characterized by economies of scale. Here, scaleeconomies force firms in each industry to specialize in a narrow range of products withineach industry to achieve efficient scale operations. Intraindustry specialization combinedwith diverse consumer tastes gives rise to two-way trade within the same industryclassification.2. Japan's comparative advantage in the immediate post-war period was in labor intensivegoods. The high level of saving and investment transformed Japan into a relatively capitalabundant country. Its advantage in the labor-intensive industries was lost as wages rose.Moreover, Japan increased its technological capability through high spending on R&D.Now Japan's advantage lies in the production of high-tech, capital intensive goods similar tothe U.S. This in large part explains the increasing trade friction between the twocountries.3. Once the U.S. acquires a comparative advantage in jet aircraft, it is likely to enjoy a dominantposition in the global marketplace for years, but not forever. Jet aircraft production is characterizedby huge economies of scale due largely to research and development costs. High capitalrequirements and scale economies pose large entry barriers. It is extremely difficult for a countryto enter into aircraft production once the U.S. has the lead. The new firm would initially have asmall market share and would be unable to compete on a cost basis. The new market entrant wouldrequire considerable government support and encouragement. This was the case with the EuropeanAirbus.----------------------- Page 6-----------------------Chapter 4 Protection of Domestic Industries: The TariffReview Questions::::1( A tariff on textiles is equivalent to a tax on consumers and a subsidy to the textileproducers and workers.2( Explain the concept of effective rate of protection.a. What does the effective rate on final goods depend upon and how?b. In what way does the effective rate analysis help to illuminate these policy issues:Deepening of production in LDCsEscalation of tariff rates by degree of processing in industrial countries3. A tariff lowers the real income of the country, while at the same time it distributes income fromconsumers to the governments and to the import-competing industry.Condensed Answers to Review Questions:1. The effect of a tariff is comparable to the combined effects of a tax on consumers and a subsidy toproducers. Using Figure 4.3, one can show a tariff results in a transfer of resources from theconsumers (who lose P P fd ) to the producers (who gain P P ec). With a non-prohibitive tariff, the2 3 2 3government will also gain revenue efmn. Whether the two schemes are equivalent depends on theexact nature of the tax and subsidy scheme.2. a. The effective rate of protection measures the percentage increase in domesticvalue added per unit of output made possible by tariffs on the output and onmaterial inputs. Determinants of the effective rate include thetariff on the finalproduct, tariffs on the imported material inputs, and the free trade value added perunit of output which is influenced by intermediate input coefficients. Effectiverates are positively related to the tariff on the final product and negatively related toboth tariffs on imported inputs and the free trade value added. A derivation ofthe formula appears in footnote 10, and footnote 12 interprets that formula.b. "Deepening" of production in LDCs involves import substitution industrializationpolicy. A final assembly plant is given a protective tariff and imported inputs areaccorded duty free treatment. As a second stage, the LDC begins to deepenproduction by manufacturing inputs and according them protection. By imposingtariffs on imported inputs, the LDC is reducing effective protection for the finalgood.Because of relatively high rates of protection on finished goods and low protectionon unfinished goods and raw materials, effective tariff rates in developed countriesmay be as much as double their nominal counterparts. Developing countriesmaintain that such tariff structures fatally harm their efforts to increase exports offinished manufactures.3. Again using Figure4.3, the loss in real income is shown by triangles cen and mfd.Redistribution has been given in 8a.----------------------- Page 7-----------------------Chapter 5 Nontariff Barriers (NTBs) to TradeReview Question::::Suppose the USA steel industry is seeking protection from foreign imports. Compare andcontrast the following measures of restricting steel industries: a tariff, a quota, and voluntaryexport restraints.Condensed Answers to Review Question:There are a variety of ways in which a tariff may be considered to be less harmful than an equivalentquota:i. The revenue effect. Tariffs provide revenue. Quotas do not automatically providerevenue. Under a quota, revenue accrues to holders of import licenses.Depending on the quota scheme, licenses may be held by domestic importers, foreign exporters, foreign governments, or domestic officialswho may use them to encourage bribery. Only through auctioning or selling licenses can the government capture quota rents.ii. Performance under demand and supply changes. Any amount of imports can enterunder a tariff, but with a quota import volumes are fixed. When demandgrows, or there is a shortfall in supply, the quota does not permit a quantityadjustment. The domestic price can depart significantly from the worldprice. Under a tariff, the domestic price cannot rise above the worldprice by more than the tariff rate. Thus, a tariff is less harmful than aquota.iii. Impact on Exporters. When a tariff is levied on an imported good it is usually rebatedwhen the good is exported. The same is not true for a quota. Quotas maytherefore be more harmful to export performance.iv. Curbing monopoly power. Quotas curtail monopoly power less than an equivalent tariff.v. Terms of Trade Effects. Quotas provide no incentive for exporting nations to absorb partof the price increase; tariffs do if the exporting nation wishes to retainmarket share.vi. Quality Upgrading. Quotas give an incentive for the exporting country to engage in qualityupgrading. Ad valorem tariffs do not provide an incentive for this behavior but specific duties do.VERs share all of the undesirable effects of quotas. When the exporter does the restricting, there isno opportunity to sell import licenses. Quota rents accrue toforeign exporters orgovernments under a VER. Therefore, VERs are more costly to society than anequivalent quota with licenses sold or a tariff. Quantitative restrictions like VERsare discriminatory. VERs are also hard to monitor. Since shipments from thirdparty countries are unrestricted, transshipment throughnonrestricted countries is amajor problem. One advantage of VERs is they do not invite retaliation sincethey are profitable to foreign exporters and governments.Tariffs, quotas and VERs may be equivalent in terms of effects on the domestic price and thevolumeof imports. This may be shown using diagram 5-1. However, there are important differencesdiscussed in 1a. above.----------------------- Page 8-----------------------Chapter 6 International and Regional Trade Organizations Among Developed CountriesReview Questions::::1. Explain the following terms:Trade creation of a customs union.Trade diversion of a customs union.2.What are the conflicts between the WTO and the environmental movement?Condensed Answers to Review Questions:1. Trade creation refers to the replacement of high cost production in each member by importsfrom another member. This effect is favorable to world welfare. Tradediversion is the diversion of trade from a nonmember to a higher cost member.This is unfavorable because it reduces worldwide resource allocative efficiency(See Figure 4-8).The basic approach to calculating welfare effects associated with customs union formation is toconstruct hypothetical estimates of what member country trade patterns wouldhave been in the absence of integration, comparing these with actual trade flows,and attributing any difference to integration. Effects ofintegration can be isolatedby using trade flow data pertaining to nonmember "normalizer" countries over thesame period to suggest what trade patterns would have been expected for memberswithout integration. Assume, in the absence of integration, both total (internalplus external) and external member imports would have grown at the same rates asthe corresponding imports in the normalizer. The normalizer's external importsrefer to its imports from third countries (i.e. intra-trade is excluded). Thenormalizer's internal imports are imports of normalizer countries from each other(e.g. intra-trade). The preintegration member country total import level ismultiplied by the corresponding normalizer import growth rate to yield an estimateof hypothetical total imports without integration. When compared with actualtotal imports, an estimate of trade creation is obtained. Trade diversion isestimated by multiplying the member country preintegration external import levelby the normalizer's rate of change of external imports to yield hypothetical membercountry external imports. The excess of hypothetical over actual external importsconstitutes trade diversion. The European Union (EU) is a customs unioncomprised of 15 West European countries.2. WTO rules often conflict with both international environmental agreements and nationalenvironmental laws. For example, a 1991 GATT panel upheld a Mexican challenge to aU.S. law banning importation of tuna caught indolphin-killing purse-seine nets.GATT/WTO provisions are concerned with products and not production methods.----------------------- Page 9-----------------------Chapter 7 International Mobility of Productive FactorsReview Question::::What is the meaning of DFI? List some of the factors that induce companies to invest abroad.Condensed Answers to Review Question:Direct Foreign Investment refers to international capital movement that gives a company controlover a foreign subsidiary. It may be the purchase of an existing company, a substantial part of itsshares, or the establishment of a new enterprise. It should be contrasted with portfolio investmentthat gives, by and large, no control over foreign assets.The motives are diverse and any particular investment may involve one or more of the followingi. investment in extractive industries to secure raw material supplies;ii. investment in manufacturing industry to take advantage of cheaper foreign labor;iii. to locate production close to foreign markets and avoid transportation costs;iv. to take advantage of incentives offered by host countries;v. to circumvent tariff barriers;vi. changes in the exchange values of currencies; andvii. marketing considerations.。
国际商务教材5
• Adam Smith argued with Mercantilism in (Wealth of Nations, 1776): Capability of one country to
produce more of a product with the same amount of input than another country can vary
Theory of Absolute Advantage Assumes there is an absolute balance among nations Example: Ghana/cocoa & S. Korea/Rice
Simple Extensions of the Ricardian Model
INTERNATIONAL BUSINESS Ch. 5 International Trade Theory
Overview of Trade Theory
•Free Trade occurs when a government does not attempt to influence, through quotas or duties, what its citizens can buy from another country or what they can produce and sell to another country (invisible hand of market mechanism and laissez-faire) •The Benefits of Trade allow a country to specialize in the manufacture and export of products that can be produced most efficiently in that country •The Pattern of International Trade displays patterns that are easy to understand (Climate and natural resource endowments – Brazil/coffee; Saudi Arabia/oil; China/crawfish). –Others are not so easy to understand (Japan and cars) •Mercantilism defines the role of government in promoting exports and limiting imports •Smith, Ricardo and Hecksher-Ohlin defines that import control and export incentives are self-defeating and result in wasted resources • New trade theory and Porter‟s theory appear to make a case for limited involvement
国际贸易英文版教材
作者、书名、出版社、出版年份、目录Thomas A．Pugel. International Economics(15th). Renmin University of China p ress. 2012-12CONTENTSChapter 1 International Economics Is DifferentFour ControversiesEconomics and the Nation-StateThe Scheme of This BookPART ONE THE THEORY OF INTERNATIONAL TRADEChapter 2 The Basic Theory Using Demand and SupplyFour Questions about TradeA Look AheadDemand and SupplyCase Study Trade Is ImportantGlobal Crisis The Trade Mini-Collapse of 2009Two National Markets and the Opening of TradeChapter 3 Why Everybody Trades: Comparative Advantage 33Adam Smith’s Theory of Absolute AdvantageCase Study Mercantilism: Older Than Smith—and Alive TodayRicardo’s Theory of Comparative AdvantageRicardo’s Constant Costs and the Producti on-Possibility CurveFocus on Labor Absolute Advantage Does MatterExtension What If Trade Doesn’t Balance?Chapter 4 Trade: Factor Availability and Factor Proportions Are KeyProduction with Increasing Marginal CostsCommunity Indifference CurvesProduction and Consumption TogetherFocus on China The Opening of Trade and China’s Shift Out of AgricultureThe Gains from TradeTrade Affects Production and ConsumptionWhat Determines the Trade Pattern?The Heckscher–Ohlin (H–O) TheoryChapter 5 Who Gains and Who Loses from Trade?Who Gains and Who Loses within a CountryThree Implications of the H–O TheoryExtension A Factor-Ratio ParadoxDoes Heckscher–Ohlin Explain Actual Trade Patterns?Case Study The Leontief ParadoxWhat Are the Export-Oriented and Import-Competing Factors?Focus on China China’s Exports and ImportsDo Factor Prices Equalize Internationally?Focus on Labor U.S. Jobs and Foreign Trade 86Chapter 6 Scale Economies, Imperfect Competition, and TradeScale EconomiesIntra-Industry TradeMonopolistic Competition and TradeExtension The Individual Firm in MonopolisticOligopoly and TradeExtension The Gravity Model of TradeChapter 7 Growth and TradeBalanced versus Biased GrowthGrowth in Only One FactorChanges in the Country’s Willingness to TradeCase Study The Dutch Disease and DeindustrializationEffects on the Country’s Terms of TradeTechnology and TradeFocus on Labor Trade, Technology, and U.S. WagesPART TWO TRADE POLICYChapter 8 Analysis of a TariffGlobal Governance WTO and GATT: Tariff SuccessA Preview of ConclusionsThe Effect of a Tariff on Domestic ProducersThe Effect of a Tariff on Domestic ConsumersThe Tariff as Government RevenueThe Net National Loss from a TariffExtension The Effective Rate of ProtectionCase Study They Tax Exports, TooThe Terms-of-Trade Effect and a Nationally Optimal TariffChapter 9 Nontariff Barriers to ImportsTypes of Nontariff Barriers to ImportsThe Import QuotaGlobal Governance The WTO: Beyond TariffsGlobal Crisis Dodging ProtectionismExtension A Domestic Monopoly Prefers a QuotaVoluntary Export Restraints (VERs)Other Nontariff BarriersCase Study VERs: Two ExamplesCase Study Carrots Are Fruit, Snails Are Fish, and X-Men Are Not HumansHow Big Are the Costs of Protection?International Trade DisputesFocus on China China’s First Decade in the WTOChapter 10 Arguments for and against ProtectionThe Ideal World of First BestThe Realistic World of Second BestPromoting Domestic Production or EmploymentThe Infant Industry ArgumentFocus on Labor How Much Does It Cost to Protect a Job?The Dying Industry Argument and Adjustment AssistanceThe Developing Government (Public Revenue) ArgumentOther Arguments for Protection: Non=economic ObjectivesThe Politics of Protection The Basic Elements of the Political-Economic Analysis Case Study How Sweet It Is (or Isn’t)Chapter 11 Pushing ExportsDumpingReacting to Dumping: What Should a Dumpee Think?Actual Antidumping Policies: What Is Unfair?Case Study Antidumping in ActionProposals for ReformExport SubsidiesWTO Rules on SubsidiesShould the Importing Country Impose Countervailing Duties?Case Study Agriculture Is AmazingStrategic Export Subsidies Could Be GoodGlobal Governance Dogfight at the WTOChapter 12 Trade Blocs and Trade BlocksTypes of Economic BlocsIs Trade Discrimination Good or Bad?The Basic Theory of Trade Blocs: Trade Creation and Trade DiversionOther Possible Gains from a Trade BlocThe EU ExperienceCase Study Postwar Trade Integration in EuropeNorth America Becomes a BlocTrade Blocs among Developing CountriesTrade EmbargoesChapter 13 Trade and the EnvironmentIs Free Trade Anti-Environment?Is the WTO Anti-Environment?Global Governance Dolphins, Turtles, and the WTOThe Specificity Rule AgainA Preview of Policy PrescriptionsTrade and Domestic PollutionTrans-border PollutionGlobal Environmental ChallengesChapter 14 Trade Policies for Developing CountriesWhich Trade Policy for Developing Countries?Are the Long-Run Price Trends against Primary Producers?Case Study Special Challenges of TransitionInternational Cartels to Raise Primary-Product PricesImport-Substituting Industrialization (ISI)Exports of Manufactures to Industrial CountriesChapter 15 Multinationals and Migration: International Factor MovementsForeign Direct InvestmentMultinational EnterprisesFDI: History and Current PatternsWhy Do Multinational Enterprises Exist?Taxation of Mul tinational Enterprises’ProfitsCase Study CEMEX: A Model Multinational from an Unusual PlaceMNEs and International TradeShould the Home Country Restrict FDI Outflows?Should the Host Country Restrict FDI Inflows?Focus on China China as a Host CountryMigrationHow Migration Affects Labor MarketsShould the Sending Country Restrict Emigration?Should the Receiving Country Restrict Immigration?Case Study Are Immigrants a Fiscal Burden?APPENDIXESA The Web and the Library: International Numbers and Other InformationB Deriving Production-Possibility CurvesC Offer CurvesD The Nationally Optimal Tariff周瑞琪. International Trade Practice. University of International Business and Economics press. 2011.9CONTENTSChapter One General Introduction（第一章导论）1.1 Reasons for International Trade （国际间贸易的起因）1.2 Differences between International Trade and Domestic Trade （国际贸易与国内贸易的差异）1.3 Classification of International Trade（国际贸易的分类）1.4 Export and Import Procedures（进出口贸易的程序）1.5 Overview of This Book （本书的基本内容）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Specimens（单证样本）Chapter Two International Trade Terms（第二章国际贸易术语）2.1 Three Sets of Rules （三种贸易术语的解释规则）2.2 Basics of Incoterms 2010 （2010年国际贸易术语解释通则基本概念）2.3 Application Issues（贸易术语在使用中应注意的问题）2.4 Determinants of Choice of Trade Terms （贸易术语选用的决定因素）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Chapter Three Export Price（第三章出口商品的价格）3.1 Expression of Export Price（出口价格的表达）3.2 Pricing Considerations（影响定价的因素）3.3 Calculation of Price（价格的计算）3.4 Understanding the Price（价格的评估）3.5 Communication of Price（价格的沟通）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Chapter Four Terms of Commodity（第四章商品条款）4.1 Name of Commodity （商品的名称）4.2 Specifying Quality（商品的品质）4.3 Measuring Quantity（商品的数量）4.4 Packing and Marking（商品的包装及标志）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Chapter Five Cargo Transportation（第五章国际货物运输）5.1 Ocean Transportation （海洋运输）5.2 Other Modes of Transportation （其他运输方式）5.3 Transportation Documents（运输单据）5.4 Shipment Clause in the Sales Contract（销售合同中的装运条款）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Specimens（单证样本）Chapter Six Cargo Transportation Insurance（第六章货物运输保险）6.1 Fundamental Principles of Cargo Insurance（货物保险的基本原则）6.2 Marine Risks and Losses（海上风险和损失）6.3 Coverage of Marine Cargo Insurance of CIC（我国海上货物保险范围）6.4 Coverage of Marine Cargo Insurance of ICC（协会货物保险范围）6.5 Other Types of Cargo Insurance（其他货物保险的种类）6.6 Procedures of Cargo Insurance（货物保险程序）6.7 Insurance Terms in the Sales Contract（销售合同中的保险条款）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Specimens（单证样本）Chapter Seven International Payments（第七章国际货款支付）7.1 Issues in Concern（影响支付条件的因素）7.2 Paying Instruments（支付工具）7.3 Remittance（汇付）7.4 Collection（托收）7.5 Basics of Letter of Credit（信用证基础知识）7.6 Types of Documentary Credit（跟单信用证的种类）7.7 Letter of Guarantee（L/G）（保函）7.8 Export Financing（出口融资）7.9 Payment Problems（支付中出现的问题）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Specimens（单证样本）Chapter Eight Export Documentation（第八章出口单证）8.1 Significance of Documentation（单证的重要性）8.2 Basic Requirements for Documentation（单证的基本要求）8.3 Prerequisites of Documentation（制单的依据）8.4 Export Documents（出口单证的种类）8.5 Clause Concerning Documents in the Sales Contract（销售合同中有关单证的条款）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Specimens（单证样本）Chapter Nine Inspection, Claim, Force Majeure and Arbitration（第九章商检、索赔、不可抗力和仲裁）9.1 Commodity Inspection（商品检验）9.2 Disputes and Claims（争议和索赔）9.3 Force Majeure（不可抗力）9.4 Arbitration（仲裁）Summary（总结）Key Terms（主要术语）Abbreviations（缩略语）Exercises（练习）Key to Exercises（练习答案）Glossary（词汇表）Appendix 1INCOTERMS 2010 （FOB, CFR, CIF）（附录12010年国际贸易术语解释通则（FOB，CFR，CIF））Appendix 2CISG 1980 （Part II）（附录2联合国国际货物销售合同公约1980（第二部分）) References （参考书目）帅建林. International Trade Practice. University of International Business and Economics press. 2007.9CONTENTSPart 1 OverviewChapter 1 Introduction to International TradeChapter 2 International Trade PolicyChapter 3 Trade Bloc and Trade BlockChapter 4 WTO :A Navigation GuidePart 2 Terms of International TradeChapter 5 International Trade TermsChapter Terms of CommodityChapter International Cargo TransportChapter 8 Cargo InsuranceChapter 9 Terms of PriceChapter 10 International Payment and SettlementChapter 11 Claims, Force Majeure and ArbitrationPart 3 International Trade ProcedureChapter 12 Launching a Profitable TransactionChapter 13 Business Negotiation and Establishment of ContractChapter 14 Exporting ElementsChapter 15 Importing ElementsChapter 16 DocumentationPart 4 Trade FormsChapter 17 Agency, Distribution and ConsignmentChapter 18 TendersChapter 19 Counter TradeChapter 20 Futures TradingChapter 21 E-CommerceAppendix Glossary of International Trade Terms with English-Chinese InterpretationsBibliographyPaul R.Krugman & Maurice Obstfeld. International Economics:Theory andPolicy,8E. Tsinghua University press. 2011-11Contents前言第1章绪论第1部分国际贸易理论第2章世界贸易：概览第3章劳动生产率和比较优势：李嘉图模型第4章资源、比较优势和收入分配第5章标准贸易模型第6章规模经济、不完全竞争和国际贸易第7章国际要素流动第2部分国际贸易政策第8章贸易政策工具第9章贸易政策中的政治经济学第10章发展中国家的贸易政策第11章贸易政策中的争论数学附录第4章附录要素比例模型第5章附录贸易下的世界经济第6章附录垄断竞争模模型张素芳，International trade: theory and practice. University of International Business & Economics Press, Beijing, 2010contentsSection I. International Trade Theory and PolicyCHAPTER 1.INTRODUCTION TO INTERNATIONAL TRADE1.The Reasons for International Trade1.1. Resources reasons1.2. Economic reasons1.3. Other reasons2. The Differences between International Trade and Domestic Trade'.'2.1. More plex context2.2. More difficult and risky2.3. Higher skills required3.Basic Concepts Relating to International Trade3.1. Visible trade and invisible trade3.2. Favorable balance of trade and unfavorable balance oft rade3.3. General trade system and special trade system3.4. Volume of international trade and quantum of international trade3.5. Commodity position of international trade3.6. Geographical position of international trade3.7. Degree of dependence on foreign tradeCHAPTER 2.CLASSICAL TRADE THEORIES1.Mercantilism1.1. The development of mercantilist thought1.2. The mercantilist economic system1.3. Economic policies pursued by the mercantilists1.4. Discussions2.David Hume's Challenge to Mercantilism2.1. Assumptions of price-specie=flow mechanism2.2. The price-specie-flow mechanism3.Adam Smith's Theory of Absolute Advantage3.1. Assumptions of Adam Smith's theory of absolute advantage3.2. Challenge to Mercantilism3.3. Example4.David Ricardo's Theory of Comparative Advantage4.1. The concept of parative advantage4.2. Example4.3. Analysis of the theory of parative advantage by using modemtools. CHAPTER 3.NEOCLASSICAL TRADE THEORIES.1.Gains from Trade in Neoclassical Trade Theory1.1. Increasing opportunity costs on the PPF1.2. General equilibrium and gains in autarky1.3. General equilibrium and gains after the introduction of international trade ...2.Reciprocal Demand Theory2.1. A country's offer curve2.2. Trading equilibrium2.3. Measurement of terms of trade3.Factor Endowment Theory3.1. Factor intensity in production3.2. Factor endowments, factor prices, and parative advantage3.3. Assumptions of the factor proportions theory.,3.4. The Heckscher-Ohlin theorem.:3.5. An example to illustrate H-O theorem.3.6. The factor price equalization theorem:3.7. The Stolper-Samuelson theorem4.The Leontief Paradox——An Empirical Test of the Factor Proportions Theory 4.1. The Leontief paradox.-4.2. Suggested explanations for the Leontief Paradox and related theories CHAPTER 4.POST-HECKSHER-OHLIN THEORIES OF TRADE1.The Product Cycle Theory1.1. The imitation lag hypothesis1.2. The product cycle theory2.The Linder Theory2.1. Assumptions of the Linder theory2.2. Trade es in the overlapping ranges of products ophistication.:3.Intra-Industry Trade Theory3.1. Explanations of intra-industry trade3.2. Measurement of intra-industry tradeCHAPTER 5.IMPORT PROTECTION POLICY: TARIFFS1.Types of Import Tariffs1.1. In terms of the means of collection1.2. In terms of the different tariff rates applied1.3. In terms of special purposes for collection2.The Effects of Import Tariffs2.1. Concepts of consumer surplus and producer surplus2.2. The welfare effects of import tariffs3.Measurement of Import Tariffs3.1. The 'height' of import tariffs3.2. Nominal versus effective tariff ratesCHAPTER 6.IMPORT PROTECTION POLICY: NON-TARIFF BARRIERS''1.Forms of Non-tariff Barriers.1.1. Quantity control measures1.2. Price control measures1.3. Para-tariff measures1.4. Finance measures1.5. Anti-petitive measures.,.1.6. Miscellaneous measures2.Effects of Non-tariff Barriers2.1. The effects of an import quota2.2. The effects of a subsidy to an import-peting industryCHAPTER 7.EXPORT PROMOTION AND OTHER POLICIES1.Export Subsidy and Production Subsidy1.1. Export subsidy and its effects1.2. Production subsidy and its effects.2.Other Export Promotion Policies2.1. Devaluation of home currency.2.2. Commodity dumping2.3. Bonded warehouse2.4. Special trade zone2.5. Export promotion programs3.Export Restrictions and Import Promotion Policies3.1. Export restrictions policies3.2. Import promotion policies4.Trade Sanctions4.1. Introduction to trade sanctions4.2. Effectiveness of trade sanctionsCHAPTER 8.ARGUMENTS AGAINST FREE TRADE1.Traditional Arguments against Free Trade1.1. Infant industry argument.1.2. Terms of trade argument1.3. Balance of trade argument1.4. Tariff to reduce aggregate unemployment argument1.5. Fair petition argument1.6. National security argument2.New Protectionism2.1. Tariff to extract foreign monopoly profit2.2. Export subsidy in duopoly3.The Political Economy of Trade Policy3.1. Median voter model3.2. Collective action theory.3.3. Contribution in political campaignsCHAPTER 9.REGIONAL ECONOMIC INTEGRATIONof Regional Economic Integration1.1. Preferential tariff arrangement1.2. Free trade area1.3. Customs union1.4. Common market.1.5. Economic union2.The Static and Dynamic Effects of Regional Economic Integration2.1. Static effects of regional economic integration2.2. Dynamic effects of regional economic integration3.Economic Integration in Europe, North America and Asia3.1. Economic integration in Europe……………………………………Chapter 10 International Cargo Transportation InsuranceChapter 11 International Trade PaymentChapter 12 Inspection,Claim,Force Majeure and ArbitrationChapter 13 Trade Negotiation and Formation of the ContractChapter 14 Implementation of the Contract丹尼斯·R·阿普尔亚德 & 小艾尔弗雷德·J·菲尔德 & 史蒂文·L·科布.国际贸易.中国人民大学出版社. 2012-7第1章国际经济学的世界第一部分古典贸易理论第2章早期的国际贸易理论：由重商主义向大卫·李嘉图的古典贸易理论的演进第3章大卫·李嘉图的古典贸易理论和比较优势第4章对古典贸易模型的扩充及验证第二部分新贸易理论第5章新古典贸易理论——基本分析工具的介绍第6章新古典贸易理论中的贸易利得第7章贸易提供曲线和贸易条件第8章贸易的基础：要素禀赋理论和赫克歇尔俄林模型第9章要素禀赋理论的实证分析第三部分贸易理论的扩展第10章后赫克歇尔俄林贸易理论与产业内贸易第11章经济增长与国际贸易第12章国际要素流动第四部分贸易政策第13章贸易政策工具第14章贸易政策的影响第15章对干涉主义贸易政策的争论第16章经济的政治因素与美国的对外贸易政策第17章经济一体化第18章国际贸易与发展中国家参考文献当我被上帝造出来时，上帝问我想在人间当一个怎样的人，我不假思索的说，我要做一个伟大的世人皆知的人。
国际商务 International Trade Theory
Result: Country A sells less because of high prices and Country B sells more because of lower prices. In the long run, no one can keep a trade surplus.
5-5
Discussion
Why countries trade with each other? p101 What are some of the theories that explain the benefits of international trade?
5-6
2. Mercantilism: mid-16th century p102
5-12
6. Product life-cycle theory- Vernon (1966)
p114
Based on the observation that for most of the 20th century a large proportion of world‟s new products had been developed by US firms and sold first in the US market (e.g., mass-produced automobiles, TVs, and instant camera). Most new products were initially produced in America because firms believed it was better to keep production facilities close to the market. Also, the demand for most new products tends to be based on non-price factors.
International Trade Theory
Increasing Product Variety and Reducing Costs
Without trade a small nation may not be able to support the demand necessary for producers to realize required economies of scale, and so certain products may not be produced With trade a nation may be able to specialize in producing a narrower range of products and then buy the goods that it does not make from other countries each nation then simultaneously increases the variety of goods available to its consumers and lowers the costs of those goods
The Benefits of Trade
Why is it beneficial for countries to engage in free trade? The theories of Smith, Ricardo and Heckscher-Ohlin show why it is beneficial for a country to engage in international trade even for products it is able to produce for itself International trade allows a country to specialize in the manufacture and export of products that can be produced most efficiently in that country, and import products that can be produced more efficiently in other countries
商务英语 international-trade-theory
In Ghana, it takes 10 resources to produce one tone of cocoa, and 13
1/3 resources to produce one ton of rice. So, Ghana could produce 20 tons of cocoa and no rice, 15 tons of rice
quotas or duties what its citizens can buy from
another country or what they can produce and sell
to another country
4-2
The Benefits Of Trade
Smith, Ricardo and Heckscher-Ohlin show why it is
this means buying goods from other countries that they
could produce more efficiently at home.
4-14
Comparative Advantage
Assume:
Ghana is more efficient in the production of both cocoa and rice.
Chapter 4
第五章 国际贸易经济 international trade theory 查尔斯·希尔 中文ppt
政府干涉的案例
政府干涉的政治理由
达马托法案：1996 年通过，美国公民可以控 告购买被利比亚及伊朗所征收之美国资产的 外国公司
保护人权：对许多民主国家而言，保护及提 升他国人权，是对外政策重要的一环
6-13 © The McGraw-Hill Companies, Inc., 2010
政府干涉的案例
世界贸易体系的发展
1947年到1979年：GATT、贸易自由化与 经济成长
经济大萧条灾难后，美国国会意见上强烈转 向支持自由贸易
GATT 是个多边协议，旨在藉由消除关税、 减低补助和进口配额等，以达到自由贸易
6-17 © The McGraw-Hill Companies, Inc., 2010
世界贸易体系的发展
平衡税：即反倾销税
6-9 © The McGraw-Hill Companies, Inc., 2010
政府干涉的案例
政府干涉的政治理由
保障工作机会与产业：政府干涉理由就是保 障工作机会与产业的必要性，以防止不公平 的外国竞争
国家安全：国家有时主张必须保护某些产业， 而国防相关产业便时常受到此类保障（如航 空、尖端电子、半导体等）
当代国际企业
Chapter 6 国际贸易的 政治经济
6e
© The McGraw-Hill Companies, Inc., 2010
6-2 © The McGraw-Hill Companies, Inc., 2010
6-3 © The McGraw-Hill Companies, Inc., 2010
政府干涉的经济论点
幼稚工业论：1792 年由汉弥尔顿提出，此一 最古老的政府干涉经济论点指出，开发中国 家在制造业拥有相对的利益
《国际经济学》第五章
24
External scale economies
Economies of scale that occur at the level of the industry instead of the firm are called external economies. There are three main reasons why a cluster of firms may be more efficient than an individual firm in isolation:
10
Inter-industry trade & intraindustry trade
Main differences between inter-industry and intra-industry trade:
Inter-industry trade reflects comparative advantage, whereas intra-industry trade does not. The pattern of intra-industry trade itself is unpredictable, whereas that of inter-industry trade is determined by underlying differences between countries. The relative importance of intra-industry and inter-industry trade depends on how similar countries are.
5
Intra-industry trade
If all trade is inter-industry, the IIT share is 0. If all trade involves matched exports and imports (X=M) for each industry, the IIT share is 1. If some trade is net trade and some trade is intra-industry trade, the IIT share will have a value between 0 and 1. The size of IIT share indicates the importance of the intra-industry trade.
国际贸易理论与实务(英语)-教学大纲
International trade theory and practices(English) SyllabusCourse Code: 031122BCourse Type:obligatory CoursePeriods: 32Credits: 2Target students：Translation for economics and tradePreparatory Courses: International Economics1、Objectives"International Trade Theory and Practice" （English）is a trade professional foundation courses, targeted professional courses in English learning environment for students. The course teaches students the basic theory and practice of international trade in English, help them master the basic operating procedures for international trade, so as to facilitate them doing business in related work from an international perspective, lay the foundation for globalization as soon as possible.2.Basic Requirements(1) Main ContentsThis course focuses on the basic theories and procedures involved in international trade. Its contents include international trade theories, trade terms, terms of commodities, international cargo transport, cargo insurance, terms of price, international payment and settlement, claims, force majeure and arbitration, business negotiation and establishment of contract, etc. Among these, we should emphasize international trade theory, trade policies, international trade terms, international cargo transport, and cargo insurance.(2)Teaching MethodThis course teaches the theory and case studies taken combined. Teaching content of each chapter to take into account the combination of both social realities and trends, and also combined with practical business of international trade.(3) Assessment：Research paperThe course assessment will combine attendance, exercises and final paper. Among them, final paper: 60%; exercises: 20%; attendance: 10%.(4) Learning RequirementsBefore learn this course, Students should grasp the knowledge of international economics as a basis. In order to achieve the purpose of teaching applied courses, this course will organize lectures and exercises.3. Arrangements4. SyllabusChapter1 IntroductionKey points and difficulties：basic concepts of international tradeBasic requirements：LectureGuidelines：target, history and basic concepts of international trade.Chapter 2 international trade theoryKey points and difficulties：Classical trade theory, neo-classical trade theory, new trade theoryBasic requirements：LectureGuidelines：To understand the theory of international trade, and international trade of contemporary theory; understanding of modern theory of international trade; grasp the traditional international trade theory and trade protection theory.Chapter 3 international distributionKey points and difficulties：The relationship between international division of labor and the development of international trade, the international division of labor, the world market and international tradeBasic requirements：LectureGuidelines：To understand the formation and development of international division of labor and the world market; understand the meaning of international division of labor and the world market, and the relationship of international trade.Chapter 4 MNES and international tradeKey points and difficulties：MNCS theoriesBasic requirements：Lecture，DiscussionGuidelines：To understand the formation and development of the Multi-National Corporation; understand the operating mechanism of Multi-National Corporation; grasp the theory of the Multi-National CorporationChapter5 GlobalizationKey points and difficulties：Regional integration theory, the concept of economic integrationBasic requirements：Lecture，DiscussionGuidelines：Understand the development of regional integration, understand and grasp the integration concept, regions of the worldChapter 6 international trade policyKey points and difficulties：Chinese foreign trade policy, trade policy history Basic requirements：LectureGuidelines：To understand the development of international trade policy evolution, understanding the significance of protection of trade policy in developing countries. Knowledge of our current trade policyChapter 7 TariffKey points and difficulties：Types of tariff, the tariff effectBasic requirements：Lecture，DiscussionGuidelines：To understand the significance of understanding the tariff; tariff collection types of methods and procedures; master the major dutiesChapter 8 Non-tariff barriersKey points and difficulties：Type of non tariff and new developmentBasic requirements：Lecture，DiscussionGuidelines：To understand the meaning and characteristics of non tariff; understand non-tariff new development; master the main non-tariff measuresChapter 9 pushing exportKey points and difficulties：Export encouragement and control measuresBasic requirements：Lecture，DiscussionGuidelines：Understanding of the relevant measures of content, understand and master the relevant measures ofChapter 10 WTOKey points and difficulties：The rules of world trade measuresBasic requirements：LectureGuidelines：Understand the development of the World Trade Organization and relationship with Chinese; understand and master the basic rules of the World Trade OrganizationChapter 11 Movement of factorsKey points and difficulties：The welfare effects of factor movementBasic requirements：LectureGuidelines：Understand the reason and welfare effect of factor movement in both the sending and receiving countriesChapter 12 Import and Export Trading procedureKey points and difficulties：Business negotiation, import and export trade procedureBasic requirements：LectureGuidelines：Understanding the law of contract, understand the offer and acceptance conditions, grasp the import and export trade process。
第五章 国际贸易理论international trade theory 查尔斯·希尔 中文ppt
比较利益理论
图 5.4 自由贸易对 PPF 的影响
5-19 © The McGraw-Hill Companies, Inc., 2010
比较利益理论
李嘉图模型的延伸
萨缪尔森的评论：中国导入自由贸易制度后， 若自由贸易动态结果是降低美国实质工资率， 美国消费者支付中国进口商品的较低价，可 能不足以让美国经济产生净利得
5-9 © The McGraw-Hill Companies, Inc., 2010
比较利益理论
图 5.2 比较利益理论
5-10 © The McGraw-Hill Companies, Inc., 2010
比较利益理论
表 5.2 比较利益及贸易利得
5-11 © The McGraw-Hill Companies, Inc., 2010
产品生命周期理论
图 5.5 产品生命周期理论（续）
5-25 © The McGraw-Hill Companies, Inc., 2010
新贸易理论
规模经济：与大规模产量有关的单位成本 缩减
增加产品的种类和降低成本：贸易容许专 门化生产、实现规模经济、生产更多种类 产品及更低价格，因此贸易双方都互蒙其 利
从历史角度来看，自由贸易对富国有好
5-20 © The McGraw-Hill Companies, Inc., 2010
海克斯－欧林理论
要素禀赋：一国的天然资源，如劳动、土 地、资本
李昂提夫的矛盾
假设因美国与其它国家比较，在资本方面相 对丰富，美国会是出口资本密集商品及进口 劳力密集商品的国家。然而出乎意料之外， 现美国出口比进口较不资本密集
国际经济学(英文)课件CHAPTER5
——No factor-intensity reversal
4. Both commodities are produced under constant returns to scale in both nations. ——Economies of scale and international trade
Differentiated Products
Intra-industry trade model
Homogeneous Products
Intra-Industry trade
Take advantage of economies of scale in production to keep unit costs low and benefit consumers with more choices
New International Trade Theory
Chapter 5
Economies of Scale, Imperfect Competition, and International Trade
Complementary Theories for H-O Theory
Practical Basis of Today’s International Trade
Chapter 5 5
Relaxing Assumptions
5. There is incomplete specialization in production in both nations. 6. Tastes are equal in both nations.
7. There is perfect competition in both commodities and factor markets in both nations.
国际经济学第八版上册第二章课后答案
Overview of Section I:International Trade TheorySection I of the text is comprised of six chapters:Chapter 2World Trade: An OverviewChapter 3Labor Productivity and Comparative Advantage: The Ricardian ModelChapter 4Resources, Comparative Advantage, and Income DistributionChapter 5The Standard Trade ModelChapter 6Economies of Scale, Imperfect Competition, and International TradeChapter 7International Factor MovementsSection I OverviewSection I of the text presents the theory of international trade. The intent of this section is to explorethe motives for and implications of patterns of trade between countries. The presentation proceeds by introducing successively more general models of trade, where the generality is provided by increasing the number of factors used in production, by increasing the mobility of factors of production across sectorsof the economy, by introducing more general technologies applied to production, and by examining different types of market structure. Throughout Section I, policy concerns and current issues are usedto emphasize the relevance of the theory of international trade for interpreting and understanding our economy.Chapter 2 gives a brief overview of world trade. In particular, it discusses what we know about the quantities and pattern of world trade today. The chapter uses the empirical relationship known asthe gravity model as a framework to describe trade. This framework describes trade as a function of the size of the economies involved and their distance. It can then be used to see where countries are trading more or less than expected. The chapter also notes the growth in world trade over the previous decades and uses the previous era of globalization (pre-WWI) as context for today’s experie nce.Chapter 3 introduces you to international trade theory through a framework known as the Ricardian model of trade. This model addresses the issue of why two countries would want to trade with each other. This model shows how mutually-beneficial trade arises when there are two countries, each with one factor of production which can be applied toward producing each of two goods. Key concepts are introduced, such as the production possibilities frontier, comparative advantage versus absolute advantage, gains from trade, relative prices, and relative wages across countries.Chapter 4 introduces what is known as the classic Heckscher-Ohlin model of international trade. Using this framework, you can work through the effects of trade on wages, prices and output. Many important and intuitive results are derived in this chapter including: the Rybczynski Theorem, the Stolper-Samuelson Theorem, and the Factor Price Equalization Theorem. Implications of the Heckscher-Ohlin model for the pattern of trade among countries are discussed, as are the failures of empirical evidence to confirmthe predictions of the theory. The chapter also introduces questions of political economy in trade. One4 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth Editionimportant reason for this addition to the model is to consider the effects of trade on income distribution. This approach shows that while nations generally gain from international trade, it is quite possible that specific groups within these nations could be harmed by this trade. This discussion, and related questions about protectionism versus globalization, becomes broader and even more interesting as you work through the models and different assumptions of subsequent chapters.Chapter 5 presents a general model of international trade which admits the models of the previous chapters as special cases. This “standard trade model” is depicted graphically by a general equilibrium trade model as applied to a small open economy. Relative demand and relative supply curves are used to analyze a variety of policy issues, such as the effects of economic growth, the transfer problem, and the effects of trade tariffs and production subsidies. The appendix to the chapter develops offer curve analysis.While an extremely useful tool, the standard model of trade fails to account for some important aspectsof international trade. Specifically, while the factor proportions Heckscher-Ohlin theories explain some trade flows between countries, recent research in international economics has placed an increasing emphasis on economies of scale in production and imperfect competition among firms.Chapter 6 presents models of international trade that reflect these developments. The chapter begins by reviewing the concept of monopolistic competition among firms, and then showing the gains from trade which arise in such imperfectly competitive markets. Next, internal and external economies of scale in production and comparative advantage are discussed. The chapter continues with a discussion of the importance of intra-industry trade, dumping, and external economies of production. The subject matterof this chapter is important since it shows how gains from trade arise in ways that are not suggested by the standard, more traditional models of international trade. The subject matter also is enlightening given the increased emphasis on intra-industry trade in industrialized countries.Chapter 7 focuses on international factor mobility. This departs from previous chapters which assumed that the factors of production available for production within a country could n ot leave a country’s borders. Reasons for and the effects of international factor mobility are discussed in the context of a one-factor (labor) production and trade model. The analysis of the international mobility of labor motivates a further discussion of international mobility of capital. The international mobility of capital takes the form of international borrowing and lending. This facilitates the discussion of inter-temporal production choices and foreign direct investment behavior.Chapter 2World Trade: An Overview⏹Chapter OrganizationWho Trades with Whom?Size Matters: the Gravity ModelThe Logic of the Gravity ModelUsing the Gravity Model: Looking for AnomaliesImpediments to Trade: Distance, Barriers, and BordersThe Changing Pattern of World TradeHas the World Gotten SmallerWhat Do We Trade?Service OutsourcingDo Old Rules Still Apply?Summary⏹Key ThemesBefore entering into a series of theoretical models that explain why countries trade across borders and the benefits of this trade (Chapters 3–11), Chapter 2 considers the pattern of world trade which we observe today. The core idea of the chapter is the empirical model known as the gravity model. The gravity model is based on the observations that: (1) countries tend to trade with other nearby economies and (2) countries’ trade is proportional to their size. The model is called the gravity model as it is similar in form to the physics equation that describes the pull of one body on another as proportional to their size and distance.The basic form of the gravity equation is T ij=A⨯Y i⨯Y j/D ij. The logic supporting this equation is that large countries have large incomes to spend on imports and produce a large quantity of goods to sell as exports. This means that the larger either trade partner, the larger the volume of trade between them. At the same time, the distance between two trade partners can substitute for the transport costs that they face as well as proxy for more intangible aspects of a trading relationship such as the ease of contact for firms. This model can be used to estimate the predicted trade between two countries and look for anomalies in trade patterns. The text shows an example where the gravity model can be used to demonstrate the importance of national borders in determining trade flows. According to many estimates, the border between the U.S. and Canada has the impact on trade equivalent to roughly 2000 miles of distance. Other factors, such as tariffs, trade agreements, and common language can all affect trade and can be incorporated into the gravity model.6 Krugman/Obstfeld •International Economics: Theory and Policy, Eighth EditionThe chapter also considers the way trade has evolved over time. While people often feel that the modern era has seen unprecedented globalization, in fact, there is precedent. From the end of the 19th century to World War I, the economies of different countries were quite connected. Trade as a share of GDP was higher in 1910 than 1960, and only recently have trade levels surpassed the pre World War trade. The nature of trade has change though. The majority of trade is in manufactured goods with agriculture and mineral products (and oil) making up less than 20% of world trade. Even developing countries now export primarily manufactures. In contrast, a century ago, more trade was in primary products as nations tended to trade for things that literally could not be grown or found at home. Today, the reasons for trade are more varied and the products we trade are ever changing (for example, the rise in trade of things like call centers). The chapter concludes by focusing on o ne particular expansion of what is “tradable”—the increase in services trade. Modern information technology has greatly expanded what can be traded as the person staffing a call center, doing your accounting, or reading your X-ray can literally be half-way around the world. While still relatively rare, the potential for a large increase in service outsourcing is an important part of how trade will evolve in the coming decades. The next few chapters will explain the theory of why nations trade.Answers to Textbook Problems1. We saw that not only is GDP important in explaining how much two countries trade, but also,distance is crucial. Given its remoteness, Australia faces relatively high costs of transporting imports and exports, thereby reducing the attractiveness of trade. Since Canada has a border with a largeeconomy (the U.S.) and Australia is not near any other major economy, it makes sense that Canada would be more open and Australia more self-reliant.2. Mexico is quite close to the U.S., but it is far from the European Union (EU). So it makes sense thatit trades largely with the U.S. Brazil is far from both, so its trade is split between the two. Mexico trades more than Brazil in part because it is so close to a major economy (the U.S.) and in partbecause it is a member of a free trade agreement with a large economy (NAFTA). Brazil is farther away from any large economy and is in a free trade agreement with relatively small countries.3. No, if every country’s GDP were to double, world trade woul d not quadruple. One way to see thisusing the example from Table 2-2 would simply be to quadruple all the trade flows in 2-2 and also double the GDP in 2-1. We would see that the first line of Table 2-2 would be—, 6.4, 1.6, 1.6. If that were true, Country A would have exported $8 trillion which is equal to its entire GDP. Likewise, it would have imported $8 trillion, meaning it had zero spending on its own goods (highly unlikely). If instead we filled in Table 2-2 as before, by multiplying the appropriate shares of the world economy times a country’s GDP, we would see the first line of Table 2-2 reads—, 3.2, 0.8, 0.8. In this case, 60% of Country A’s GDP is exported, the same as before. The logic is that while the world GDP has doubled, increasing the likelihood of international trade, the local economy has doubled, increasing the likelihood of domestic trade. The gravity equation still holds. If you fill in the entire table, you will see that where before the equation was 0.1 ⨯ GDP i⨯ GDP j, it now is 0.05 ⨯ GDP i⨯ GDP j. The coefficient on each GDP is still one, but the overall constant has changed.4. As the share of world GDP which belongs to East Asian economies grows, then in every traderelationship which involves an East Asian economy, the size of the East Asian economy has grown.This makes the trade relationships with East Asian countries larger over time. The logic is similar for why the countries trade more with one another. Previously, they were quite small economies, meaning that their markets were too small to import a substantial amount. As they became morewealthy and the consumption demands of their populace rose, they were each able to importmore. Thus, while they previously had focused their exports to other rich nations, over time, they became part of the rich nation club and thus were targets for one another’s exports. Again, using the gravity model, when South Korea and Taiwan were both small, the product of their GDPs was quite small, meaning despite their proximity, there was little trade between them. Now that they have both grown considerably, their GDPs predict a considerable amount of trade.Chapter 2 World Trade: An Overview 7 5. As the chapter discusses, a century ago, much of world trade was in commodities that in many wayswere climate or geography determined. Thus, the UK imported goods that it could not make itself.This meant importing things like cotton or rubber from countries in the Western Hemisphere or Asia.As the UK’s climate and natural resource endowments were fairly similar to those in the rest of E urope, it had less of a need to import from other European countries. In the aftermath of the IndustrialRevolution, where manufacturing trade accelerated and has continued to expand with improvements in transportation and communications, it is not surprising that the UK would turn more to the nearby and large economies in Europe for much of its trade. This is a direct prediction of the gravity model.。
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Porter’s Diamond
Basic Factor Endowments
• Basic factors: Factors present in a country • Natural resources • Climate • Geographic location • Demographics • While basic factors can provide an initial advantage they must
monopolistic industry. This will be good for the national economy as a whole. • How? Export-promoting subsidies & Home market protection
• Examples: Korea, Japan
Comparative Advantage
• What if one country is the most efficient producer of all goods? • Ricardo‟s (1817) answer • Trade is still beneficial to the country. • Specialization based on comparative advantage • The source of benefits • Specialization • A more efficient use of resources
Mercantilism-Zero-Sum Game
• In 1752, David Hume pointed out that: • Increased exports lead to inflation and higher prices • Increased imports lead to lower prices • Result: Country A sells less because of high prices and Country B sells more because of lower prices • In the long run, no one can keep a trade surplus • Protectionist trade policies also trigger trade wars.
Product Life-Cycle Theory
Evaluating the PLC Theory
• Very popular theory • The theory well explains the historical pattern of the US trade
with other nations. • Limitations • Today, the U.S. is not the only source of new innovations (Ethnocentric view). • MNEs introduce new products simultaneously in many countries. • Due to the globalization of production, it is difficult to identify product‟s country of origin.
The New Trade Theory
• Many assumptions in classical trade theory • Perfect competition; atomic suppliers; fixed factor
endowments; perfect information, homogeneous tech, … • Real world • Most key industries are monopolistic or oligopolistic. • Factor endowments can change and often are developed intentionally (see, Korea, Taiwan, and China) • Monopolistic industry • First-mover advantage; Entry barriers • Monopoly profits = Above normal profits = Excess rent
CHAPTER 5 INTERNATIONAL TRADE THEORY
International Trade Theory
• Trade theories attempt to explain • Gains from international trade • Patterns of international trade
be supported by advanced factors to maintain success
Advanced Factor Endowments
• Advanced factors: The result of investment by people,
companies, and government are more likely to lead to competitive advantage • If a country has no basic factors, it must invest in advanced factors • Skilled labor • Research • Technology • Education
The New Trade Theory
• How did some firms preempt such industries? • Innovations, Luck, and/or Government Support • Strategic Trade Policy • Government policies can help domestic firms to enter a
• Long term corporate vision is a determinant of
Porter’s Diamond
• The Competitive Advantage of Nations (1990) • Why does a nation achieve int‟l success in a particular
industry? • 100 industries in 10 nations • Four key conditions are identified. • Factor endowments • Demand conditions • Related/supporting industries • Firm strategies, structure, rivalry
Product Life-Cycle Theory
• Raymond Vernon, 1960s • Three stages • New, maturing, and standardized products • New products • Developed, manufactured, and consumed in the U.S. • High production costs, fluid technology • Price is not important.
Absolute Advantage
• Adam smith (the wealth of nations, 1776) • Trade is a “positive-sum” game. • Countries differ in their abilities to produce goods efficiently. • Specialization based on “absolute advantage” • Where do the benefits come from? • Specialization • A more efficient use of resources
• The Leontief Paradox • America is an exporter of labor-intensive goods and an importer of capital-intensive goods. • Good Theory, but relatively poor prediction power
Demand Conditions
• Demand • creates capabilities • creates sophisticated and demanding consumers
• Demand impacts quality and innovation
Related and Supporting Industries
Product Life-Cycle Theory
• Maturing products • Exported to and/or manufactured in other advanced countries • Standardized products • Standardized technology; Mass production • Price becomes the main competitive weapon • Products are produced in developing countries, and exported to the U.S. and other advanced countries
Heckscher-Ohlin Theory
• Why countries have different comparative advantages in the