International Economics in the Age of Globalization / Edition 1 available in Paperback
International Economics in the Age of Globalization / Edition 1
- ISBN-10:
- 1551112612
- ISBN-13:
- 9781551112619
- Pub. Date:
- 05/01/2000
- Publisher:
- University of Toronto Press
- ISBN-10:
- 1551112612
- ISBN-13:
- 9781551112619
- Pub. Date:
- 05/01/2000
- Publisher:
- University of Toronto Press
International Economics in the Age of Globalization / Edition 1
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Overview
Economic theory is not limited to the abstract; its concern with institutions has both a practical and theoretical base. How can one evaluate a criticism of the World Trade Organization, a fear of the dangers of financial derivatives, the supposed freedom of a multinational firm, or the presumed unfairness of dumping without knowing both theory and institutions? Where did these institutions come from? What problems are they solving-as well as creating? This book's balance between theory and institutions is akin to texts in Public Expenditure or Money and Banking. The leading international economics texts, in contrast, push the real world into the background and present the subject as a more specialized intermediate theory course, accessible only to people who have a solid theoretical background. The result is that good discussions of many of the key issues in modern international economics simply are not available in the curriculum, or accessible to any but economics majors. This book aims to remedy that failing, challenging economics majors and non-majors alike. It will also be of value to students of business and public affairs and to the economic-literate general public.
Product Details
ISBN-13: | 9781551112619 |
---|---|
Publisher: | University of Toronto Press |
Publication date: | 05/01/2000 |
Edition description: | New Edition |
Pages: | 792 |
Product dimensions: | 7.00(w) x 9.00(h) x (d) |
About the Author
Table of Contents
1. The Nature of International EconomicsGlobalizationInternational Economics in Daily LifeThe Growth of Economic InterdependenceStatistics with Some Grains of SaltLooking ForwardVocabulary and Concepts / QuestionsNotesPart I: International Trade 2. The Theory of Comparative AdvantageThe Gains from Trade in General EquilibriumThe Gains from Trade in Partial EquilibriumRelaxing the AssumptionsConclusionAppendix: Offer CurvesVocabulary and Concepts / QuestionsNotes3. The Sources of Comparative AdvantageFactor Proportions: The Heckscher-Olin ModelTwo Challenges to the Heckscher-Olin ModelWhy Trade Arises among Similar CountriesSegmented Markets as an Explanation for TradeWhat Could Trigger the Direction of Specialization?Dislocation and Intraindustrial TradeConclusionVocabulary and Concepts / QuestionsNotes4. Tariffs, Quotas, and VERsTariffsAnalysis of Tariffs: Their EffectsQuotas and Their Economic EffectsVoluntary Export RestraintsAppendix: The Terms-of-Trade Effect in General EquilibriumVocabulary and Concepts / QuestionsNotes5. The Face of Modern ProtectionismSubsidy and Tax IssuesAdministrative ProtectionTechnical, Health, Safety, and Environmental StandardsHow Can Distortions To Trade Be Compared?Playing the Protectionist InstrumentsConclusionVocabulary and Concepts / QuestionsNotes6. The Political Economy of Trade BarriersA Short History of Trade PolicyThe Uruguay Round and the World Trade OrganizationWhy Do Countries Persist in Protectionism?The Arguments for Trade BarriersConclusionVocabulary and Concepts / QuestionsNotes7. Unfair Trade PracticesDumpingSubsidiesOther Unfair Trade PracticesConclusionVocabulary and Concepts / QuestionsNotes8. National Trade PoliciesManaged TradeStrategic Trade PolicyJapanese Use of a National Trade StrategyAdjusting to Trade as a National StrategyTrade SanctionsVocabulary and Concepts / QuestionsNotes9. Economic IntegrationThe Types of Economic IntegrationThe Great Debate: Trade Creation or Trade DiversionDynamic Effects of Economic IntegrationA Checklist of Conditions for Welfare ImprovementThe Major Examples of Economic IntegrationVery Large PTAsPTAs with a Rich PatronRegional Trade Arrangements in the LDCsForeign Trade Zones: Little Bits of Free TradeConclusionVocabulary and Concepts / QuestionsNotesPart II: International Macroeconomics: Saving, Growth, and Finance 10. Saving, Investment, and the Trade BalanceHow Can Countries Have Trade Imbalances?The Three Real Imbalances: Imports-Exports, Saving-Investment, and Output-AbsorptionFinancial Markets: Borrowing and LendingTrade Imbalances as Problems and SymptomsTotal Investment Equals Total SavingsThe International Capital Market and National SavingGovernment Savings and Trade Deficits: The Twin Deficit QuestionPrivate SavingConclusionAppendix: Where to Find the NumbersVocabulary and Concepts / QuestionsNotes11. The Balance of PaymentsWhy Study the Balance of Payments?What a Balance-of-Payments Statement ShowsBalance-of-Payments AccountingThe Structure of the Balance of PaymentsUsing Balance-of-Payments Statements as Analytical ToolsThe World DeficitConclusionVocabulary and Concepts / QuestionsNotes12. Income and Price EffectsIncome and Price ChangesIncome EffectsSome International ImplicationsPrice and Income: Two Intriguing CasesConclusionVocabulary and Concepts / QuestionsNotes13. Interest Rates, Prices, and Foreign ExchangeThe Foreign Exchange MarketThe Vast Sums TradedInterest Rate ParityThe Longer Run: Price Levels and Purchasing Power ParityInternational and Domestic Financial MarketsConclusionVocabulary and Concepts / QuestionsNotes14. Money in the Global EconomyThree Ways of Looking at Money's Relation to Real OutputModeling the Effects of Money SupplyMarkets for Funds and Markets for LiquidityMonetary PolicyNational Money Supplies and Global FlowsThe Role of Money in Correcting Serious Balance-of-Payments DifficultiesThe Problem of Large Capital FlowsMonetary and Fiscal Policy TogetherConclusionVocabulary and Concepts / QuestionsNotes15. Exchange Rate AdjustmentWhat Countries Really DoThe Role of the Exchange Rate in Adjusting to Payments DifficultiesExchange ControlThe Once-and-for-all Devaluation after Great InflationRevaluation (Upward Valuation)Price Sensitivity: What Happens When Price Effects Work SlowlyExchange Rate Changes and the EXIN ModelConclusionVocabulary and Concepts / QuestionsNotes16. International Financial MarketsThe Functions of Financial MarketsThe Advantages of Large MarketsAn Overview of the International MarketsEurodollars, T-accounts, and Monetary ExpansionDerivative and Swap MarketsContinuing Changes in the International Capital MarketImplications of the ChangesConclusionVocabulary and Concepts / QuestionsNotes17. International Monetary Institutions (I)The International System under the Gold StandardThe 1920s: Pegged Exchange RatesThe Great DepressionThe Bretton Woods System: 1947-1973Reserve CurrenciesSpecial Drawing RightsBorrowing Swap LinesThe End of the Bretton Woods SystemThe Bretton Woods System: An AssesmentVocabulary and Concepts / QuestionsNotes18. International Monetary Institutions (II)The Oil CrisesFloating Exchange RatesThe Debt CrisisCurrencies and Governments: How Many Currencies?Deja Vu All Over AgainVocabulary and Concepts / QuestionsNotes19. Multinational Firms, Foreign Direct Investment, and GlobalizationForeign Direct Investment and the Multinational FirmFDI in Recent YearsThe Theory of Foreign Direct InvestmentPossible Reasons for the Recent Increase in FDIExtent of the Firm's Freedom from Market ConstraintsIssues MNFs RaiseConclusionVocabulary and Concepts / QuestionsNotes Index