案例分析发达国家和发展中国家的贸易条件

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Figure 5-3: Production, Consumption, and Trade in the Standard Model(P97)
Food production, QF
Indifference curves D Food imports Q
TT Cloth exports Cloth production, QC
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83 84 85 86 87 88 89 90 91 92 93
Determining Relative Prices
– Suppose that the world economy consists of two
countries:
Home (which exports cloth)
– Its terms of trade are measured by PC/PF – Its quantities of cloth and food produced are QC and QF
– The economy’s choice of a point on the isovalue
பைடு நூலகம்
line depends on the tastes of its consumers, which can be represented graphically by a series of indifference curves.
– Is economic growth in other countries good or bad for our
nation?
It may be good for our nation because it means larger markets for our exports. It may mean increased competition for our exporters.
Food production, QF
Q1 VV1(PC/PF)1
Q2
TT
VV2(PC/PF)2 Cloth production, QC
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Relative Prices and Demand
– The value of an economy's consumption equals
the value of its production: PCQC + PFQF = PCDC + PFDF = V
which an economy actually produces depends on the price of cloth relative to food, PC/PF. – Isovalue lines(P94)
Lines along which the market value of output is constant
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Figure 5-4: Effects of a Rise in the Relative Price of Cloth(P98)
Food production, QF
D2 D1
Q1 Q2 VV1(PC/PF)1 TT VV2(PC/PF)2 Cloth production, QC
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The Welfare Effect of Changes in the Terms of Trade
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Figure 5-1: Relative Prices Determine the Economy’s Output(P95)
Food production, QF
Isovalue lines Q
TT Cloth production, QC
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Figure 5-2: How an Increase in the Relative Price of Cloth Affects Relative Supply(P96)
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Introduction
Previous trade theories have emphasized specific sources of comparative advantage which give rise to international trade:
– Differences in labor productivity (Ricardian model) – Differences in resources (specific factors model
The standard trade model is built on four key relationships:
– Production possibility frontier and the relative
supply curve – Relative prices and relative demand – World relative supply and world relative demand – Terms of trade and national welfare
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Figure 5-5: World Relative Supply and Demand(P99)
Relative price of cloth, PC/PF RS
(PC/PF)1
1
RD Relative quantity of cloth, QC + Q*C Q F + Q *F
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Economic Growth: A Shift of the RS Curve
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– Indifference curves(P96) Each traces a set of combinations of two goods consumption that leave the individual equally well off They have three properties:
– Income effect – Substitution effect
It is possible that the income effect will be so strong that when PC/PF rises, consumption of both goods actually rises, while the ratio of cloth consumption to food consumption falls.
Chapter 5 The Standard Trade Model
Introduction A Standard Model of a Trading Economy International Transfers of Income: Shifting the RD Curve Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD Summary Appendix: Representing International Equilibrium with Offer Curves
– Downward sloping – The farther up and to the right each lies, the higher the level of welfare to which it corresponds – Each gets flatter as we move to the right
and Heckscher-Ohlin model)
The standard trade model is a general model of trade that admits these models as special cases.
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5-1 A Standard Model of a Trading Economy
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Production Possibilities and Relative Supply
– Assumptions of the model: Each country produces two goods, food (F) and cloth (C) Each country’s production possibility frontier is a smooth curve (TT) – The point on its production possibility frontier at
Foreign (which exports food)
– Its terms of trade are measured by PF/PC – Its quantities of cloth and food produced are Q*C and Q*F
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– To determine PC/PF , one must find the
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发达国家和发展中国家1972－1993年的贸易 发达国家和发展中国家1972－1993年的贸易 条件（单位出口价值/单位进口价值，1972 条件（单位出口价值/单位进口价值，1972 年为100) 年为100)
年度 发展中 国家 石油出 口国 其他国 家 发达国 家 41 41 39 20 23 19 21 24 21 20 19 0 2 1 6 2 2 4 3 4 1 8 84 87 85 87 88 92 91 92 92 92 91 82 81 82 90 77 91 91 91 92 94 94
intersection of world relative supply of cloth and world relative demand.
The world relative supply curve (RS) is upward sloping because an increase in PC/PF leads both countries to produce more cloth and less food. The world relative demand curve (RD) is downward sloping because an increase in PC/PF leads both countries to shift their consumption mix away from cloth toward food.
– Terms of trade The price of the good a country ‘s exports divided by the price of its imports.(P94) A rise in the terms of trade increases a country’s welfare, while a decline in the terms of trade reduces its welfare.(P98)
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案例分析: 案例分析:发达国家和发展中国家的贸易条件
发达国家和发展中国家1972－1993年的贸易条件 （单位出口价值/单位进口价值，1972年为100） 年度 发展中国 家 石油出口 国 其他国家 发达国家 72 73 74 75 76 77 78 79 80 81 82
100 113 258 246 259 272 248 302 412 451 450 100 104 99 100 98 87 90 89 94 88 102 96 86 89 94 86 91 80 85 79 84 80
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– If the relative price of cloth, PC/PF , increases, the
economy’s consumption choice shifts from D1 to D2.
The move from D1 to D2 reflects two effects:
– Is growth in a country more or less valuable when that
nation is part of a closely integrated world economy?