Complementing trade theories with relevant trade empirics, this book covers three aspects of the study of International Economics: pure theory of trade, trade policy, and theory of Balance of Payments (BoP) and exchange rate. In the first part, it discusses the basic principles of international trade between dissimilar countries as well as between similar countries, and implications thereof in terms of welfare, income distribution, and growth. The approach taken here is distinctly different from that in most of the existing textbooks on international economics. Instead of model-specific discussions of the basic issues, it discusses the basic principles governing trade, gains from trade, and characteristics of international equilibrium in the context of a general trading environment of open economies. Subsequently, specific models of trade are introduced as alternative theoretical explanations for the basic principles of trade. In the second part, a wide range of policy issues are analysed including unilateral trade restrictions and promotions; reciprocatory trade policy choices through regionalism; product standards that regulate trade between developed and developing countries; and implications of capital inflow, FDI, fragmentation, and global value chains. In the third part, the book discusses different currency and exchange rate regimes and their implications for a country's balance of payments and foreign exchange reserves. Drawing upon the basic theories, it studies expenditure-reducing and expenditure-switching policies to correct for BoP imbalances under a pegged exchange rate regime. Finally, some reflections on the choice of exchange rate regime and optimum currency area wind up discussions of monetary issues in international economics.
By:
Rajat Acharyya (Professor of Economics Professor of Economics Jadavpur University)
Imprint: Oxford University Press
Country of Publication: United Kingdom
Edition: 2nd Revised edition
Dimensions:
Height: 245mm,
Width: 188mm,
Spine: 31mm
Weight: 1g
ISBN: 9780192865144
ISBN 10: 0192865145
Pages: 644
Publication Date: 22 September 2022
Audience:
College/higher education
,
Primary
Format: Paperback
Publisher's Status: Active
Part I Basis and Gains from Inter-industry Trade 1: Basis of Inter-industry Trade 2: Gains from Trade 3: Test of Comparative Advantage and Measuring GFT 4: International Equilibrium and the Terms of Trade Part II Theories of Comparative Advantage and Pattern of Trade 5: Technology and Trade 6: Factor Endowment and Trade 7: Digressions on Factor Endowment Theory and Trade Empirics Part III Basis and Gains from Intra-industry Trade 8: Theories of Intra-industry Trade Part IV Trade Intervention and Coordination 9: Import Tariff and Export Subsidies 10: Quantitative Restrictions, Non-tariff Barriers, and Equivalence 11: Market Imperfection and Trade Policy 12: Political Economy of Trade Policy 13: Market Failure, Distortions, and Trade Policy 14: Multilateralism and Regionalism Part V Input Trade, Services, and Growth 15: Trade, Growth, and Inclusion 16: Foreign Capital Inflow, Multinationals, and Migration 17: Services Trade Part VI Standards, Regulations, and Multilateral Trade Agreements 18: Product Standards, Regulations, and Trade 19: World Trade Organization and Trade Agreements Part VII Theory of Balance of Payments and Open Economy Macroeconomics 20: Balance of Payments and National Income Accounting 21: National Income and Current Account Balance: The Income Approach 22: International Currency Systems and Exchange Rate Regimes 23: BOP Adjustment Policies in a Pegged Exchange Rate Regime 24: Money, Price, and Exchange Rate 25: Financial Crises in the Developing World 26: Currency Regimes Revisited
Rajat Acharyya is currently Professor of Economics at Jadavpur University, and former Dean, Faculty of Arts, Jadavpur University. He has published extensively in different areas of international economics and is the editor of the e-journal Trade and Development Review. His current research interests include trade, export quality, and labour market implications. He was a Ford Foundation Research Fellow at Rochester University, USA (1997-98), Visiting Fellow at the University of Kent at Canterbury, UK (2008-10), and Visiting Professor at Utrecht University School of Economics, the Netherlands (2010).
