This is a comprehensive graduate textbook on International Trade. It surveys both the theoretical and empirical literature, and reports new results. International Trade addresses the need to synthesize and integrate the new advances in a field that has become a key element of policy discussions.
The field of international trade has been a focus of renewed debate for academics and policy-makers alike. The progressive integration of economics at a worldwide level have led to debates surrounding the migration of labor markets, restrictive trade practices, the impact of foreign investment, the role of cooperation through multilateral and regional agreements, and the enforceability of international agreements. This book reviews the new research findings and theoretical developments that have informed these debates, offering a balanced analytical account of American and European experiences, viewpoints, approaches and policy.Written in six parts, the first part examines the determinants of trade patterns, economic location, foreign investment and the interaction between trade and economic growth. The second part deals with strategic policy interventions. The third part examines the role of innovation, skills and contracts in trade and foreign direct investment. The fourth part focuses on trade reform, trade and investment restrictions and economic sanctions. The fifth part tackles the endogenous formation of policy through the interaction between interest groups and the government, block formation and a host of coexisting trade-restricting and -promoting practices. The sixth part focuses on the economics of the World Trade Organisation, cooperative agreements, and their sustainability.Comprehensive in its approach, this book will be of particular interest to graduate students, policymakers, and practitioners with an interest in international trade.
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