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Beskrivelse
This book offers an overview of international trade theory from a new perspective, concentrating on recent contributions that provide insights helping to explain the present structure of international exchanges of goods and services and the forces--not only economic, but also technological, political, psychological, and historical--that are shaping it. Current trade theory is still largely centred on the Ricardo's principle of comparative advantages and the Heckscher-Ohlin theory of factor proportions. Trade theory has left out of the picture some fundamental factors, such as power asymmetries between economic actors and the relevance of standards and networks, that shape contemporary trade flows, largely because these factors could not be precisely specified and measured so as to be incorporated into the standard analytical apparatus of economic theory.