Trade and Economic Growth : Growth and Welfare Effects of Trade and Comparative Advantage

Lingua: inglese

Editore: GRIN Verlag, GRIN Verlag, 2011

3640945956 / 9783640945955

Da: AHA-BUCH GmbH, Einbeck, GermaniaAHA-BUCH GmbH

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Descrizione dell’articolo da parte del venditore

Druck auf Anfrage Neuware - Printed after ordering - Bachelor Thesis from the year 2010 in the subject Economics - Foreign Trade Theory, Trade Policy, grade: 1,0, Vienna University of Economics and Business (Institut für Außenwirtschaft und Entwicklung), language: English, abstract: The following paper relates two of the most important economic phenomena, namely economic growth and international trade. Before analysing the relationship between two economic phenomena in detail, an overview of some of the most prominent empirical empirical studies concerning the relationship between openness to international trade and economic growth in general is provided. As most of them seem to have reached the conclusion that trade influences growth in a positive way, the question for the reasons of this presumably positive relationship arises. Factors which cause or influence economic growth in general as well as various channels through which trade might have an influence on growth are presented in the third and forth section. The importance of various sources of economic and the Solow-Model and the AK-Model are introduced in order to distinguish between long-run and short-run effects of capital accumulation, learning by doing and R&D on economic growth. The remaining analysis concentrates on one channel in particular, namely on howtrade determines a country's import and export structure. The importance of therange of products a country produces is enormous and affects economic growth and welfare. The fifth section introduces the static Ricardian model of comparative advantage in order to show how productivity levels dictate the patterns of trade and determine which products a country produces depending on static productivity levels at the time a country opens up to trade. Since productivity levels do, however, not remain constant but are influenced by learning by doing and specialisation, dynamic effects of specialisation on comparative advantage should not be neglected. For this purpose, a model of dynamic comparative advantage is introduced in the sixth section. It shows how comparative advantages which exist at the time an economy opens up to trade tend to lock in and determine trade patterns in the long run. The question is raised when an economy should open up to trade and a justification of the infant industry argument is provided on theoretical grounds. The paper is concluded by a welfare analysis, which tries to answer the question under which conditions free trade or protectionist policies are best suited for a country.…

Codice articolo 9783640945955

Titolo
Trade and Economic Growth : Growth and Welfare Effects of Trade and Comparative Advantage
Autore
Julia Martins
Editore
GRIN Verlag, GRIN Verlag
Anno di pubblicazione
2011
Condizione
Neu
Rilegatura
Taschenbuch
Lingua
inglese
ISBN 10
3640945956
ISBN 13
9783640945955
Peso dell'articolo
112 grammi
Dimensioni
210x148x6 mm

AHA-BUCH GmbH

Einbeck, Germania

Venditore con 5 stelle

Venditore AbeBooks dal 14 agosto 2006

Tariffe di spedizione da Germania a U.S.A.

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