The Political Economy of Trade Policy: Papers in Honor of Jagdish Bhagwati

Overview

This collection of papers by former students and colleagues celebrates the profound impact that Jagdish Bhagwati has had on the field of international economics over the past three decades. Bhagwati, who is the Arthur Lehman Professor of Economics at Columbia University, has made pathbreaking contributions to the theory of international trade and commercial policy, including immiserizing growth,domestic distortions, economic development, and political economy. His success and influence as a teacher and mentor is ...

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Overview

This collection of papers by former students and colleagues celebrates the profound impact that Jagdish Bhagwati has had on the field of international economics over the past three decades. Bhagwati, who is the Arthur Lehman Professor of Economics at Columbia University, has made pathbreaking contributions to the theory of international trade and commercial policy, including immiserizing growth,domestic distortions, economic development, and political economy. His success and influence as a teacher and mentor is widely recognized among students at both MIT and Columbia, and as founder of the Journal of International Economics, he has encouraged research on many questions of theoretical and policy relevance. The political economy of trade policy, Bhagwati's most recent area of interest, is the theme of this collection which addresses salient topics including market distortions, income distribution, and the political process of policy-making.Sections and Contributors: - Market Distortions. T. N. Srinivasan.

Paul A. Samuelson. Paul R. Krugman.- Trade and Income Distribution. Douglas A.

Irwin. Richard A. Brecher and Ehsan U. Choudri. Robert C. Feenstra and Gordon H.

Hanson. Earl L. Grinols.- Perspectives on Political Economy. Robert E. Baldwin.

Peter Diamond.- Models of Political Economy and Trade. Gene M. Grossman and Elhana Helpman. John Douglas Wilson. B. Peter Rosendorff. Arvind Panagariya and Ronald Findlay.

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What People Are Saying

From the Publisher
"In the international-trade-theory Hall of Fame after Smith, Ricardo,andMill before this century, then Taussig, Viner, Heckscher, Ohlin, Meade andSamuelson comes Jagdish Bhagwati, the hero of this Festschrift. Samuelson,in fact, calls this 'The Age of Bhagwati'. Teachers, colleagues, students,peers have joined to honor him and to celebrate and push ahead with hismany innovative extensions of classic theory. For those who need to get upto date, here is a vital compendium." Charles P. Kindleberger, Ford International Professor ofEconomics, MIT,Emeritus

"This is a superb collection of essays in honor of a great economist

• Jagdish Bhagwati. Written by students and associates, these papersreveal the vast influence that Bhagwati has had on the subject ofinternational economics." Edward E.

Leamer, Chauncey J. Medberry Professor,Anderson School, UCLA

"This volume containing some major papers, theoretical and empirical,inthe area of political economy of trade policy is a fitting tribute toJagdish Bhagwati, an international stalwart in the field." Pranab Bardhan, Professor of Economics, University of Californiaat Berkeley

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Product Details

  • ISBN-13: 9780262061865
  • Publisher: MIT Press
  • Publication date: 8/1/1996
  • Pages: 314
  • Product dimensions: 6.20 (w) x 9.00 (h) x 1.10 (d)

Meet the Author

Robert C. Feenstra is Professor of Economics and C. Bryan Cameron Distinguished Chair in International Economics at the University of California, Davis. He directs the International Trade and Investment Program at the NBER and is the author of Advanced International Trade: Theory and Evidence and Offshoring in the Global Economy: Microeconomic Structure and Macroeconomic Implications (MIT Press, 2010).

Gene M. Grossman is Jacob Viner Professor of International Economics and Director of the International Economics Section at Princeton University.

Douglas A. Irwin is Professor of Economics at Dartmouth College. He is the author of Free Trade under Fire, Peddling Protectionism: Smoot-Hawley and the Great Depression, and other books.

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Table of Contents

Contributors
Acknowledgments
Introduction
1 The Generalized Theory of Distortions and Welfare Two Decades Later 3
2 The Age of Bhagwati et al. 27
3 Domestic Distortions and the Deindustrialization Hypothesis 33
4 Industry or Class Cleavages over Trade Policy? Evidence from the British General Election of 1923 53
5 Liberalizing Multinational Investment: The Stolper-Samuelson Question Revisited 77
6 Foreign Investment, Outsourcing, and Relative Wages 89
7 Pure and Mixed Price and Income Compensation Schemes: Breaking Political Roadblocks to Trade Reform 129
8 The Political Economy of Trade Policy: Integrating the Perspectives of Economists and Political Scientists 147
9 On the Political Economy of Trade: Notes of a Social Insurance Analyst 175
10 Foreign Investment with Endogenous Protection 199
11 The Tax Treatment of Imperfectly Mobile Firms: Rent-Seeking, Rent-Protection, and Rent-Destruction 225
12 Endogenous Trade Restrictions and Domestic Political Pressure 245
13 A Political-Economy Analysis of Free-Trade Areas and Customs Unions 265
Index 289
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