世界经济教学资料3politicaleconomyofinternationaltrad

,TheTheoriesofInternationalTradeandInvestment,LearningObjectives,TounderstandthetraditionalargumentsofhowandwhyinternationaltradeimprovesthewelfareofallcountriesToreviewthehistoryandcomparetheimplicationsoftradetheoryfromtheoriginalworkofAdamSmithtothecontemporarytheoriesofMichaelPorterToexaminethecriticismsofclassicaltradetheoryandexaminealternativeviewpointsofwhichbusinessandeconomicforcesdeterminetradepatternsbetweencountriesToexplorethesimilaritiesanddistinctionsbetweeninternationaltradeandinternationalinvestment,TheEvolutionofTradeTheory,TheAgeofMercantilism,Theevolutionoftradeintotheformweseetodayreflectsthreeevents:,TheCollapseofFeudalSociety,TheEmergenceoftheMercantilistPhilosophy,TheLifeCycleoftheColonialSystemsoftheEuropeanNation-States,Mercantilism,MixedexchangethroughtradewithaccumulationofwealthConductedunderauthorityofgovernmentDemiseofmercantilisminevitable,ClassicalTradeTheory,TryingtoExplain:Whycountriestrade,andWhysomecountriesgrowfasterandwealthierthanothersthroughtrade?,ClassicalTradeTheory,TheTheoryofAbsoluteAdvantageTheabilityofacountrytoproduceaproductwithfewerinputsthananothercountryTheTheoryofComparativeAdvantageThenotionthatalthoughacountrymayproducebothproductsmorecheaplythananothercountry,itisrelativelybetteratproducingoneproductthantheother,ClassicalTradeTheoryContributions,AdamSmithDivisionofLaborIndustrialsocietiesincreaseoutputusingsamelabor-hoursaspre-industrialsocietyDavidRicardoComparativeAdvantageCountrieswithnoobviousreasonfortradecanspecializeinproduction,andtradeforproductstheydonotproduceGainsFromTradeAnationcanachieveconsumptionlevelsbeyondwhatitcouldproducebyitself,TheoryofAbsoluteAdvantage,AbsoluteAdvantageThecapabilityofonenationtoproducemoreofagoodwiththesameamountofinputthananothercountryAdamSmithclaimedthatmarketforces,notgovernmentcontrols,shoulddeterminethedirection,volume,andcompositionofinternationaltrade.,TheoryofAbsoluteAdvantageAnExample,AssumptionsPerfectcompetitionandnotransportationcostsinaworldoftwocountriesandtwoproducts.Eachnationhastwoinputunitsitcanusetoproduceeitherriceorautos.Eachcountryusesoneunitofinputtoproduceeachproduct.,TheoryofAbsoluteAdvantageAnExample,Costofproducing3tonsofriceintheU.S.shouldbeequaltothecostofproducing2autosintheU.S.U.S.hasanabsoluteadvantageinriceproduction(3to1).Japanhasanabsoluteadvantageinautoproduction(4to2).,TheoryofAbsoluteAdvantageAnExample,Ifeachcountryspecializesinitsmostefficientproduct,thenfor2unitsinspecialization,outputisasfollows:,(3X2)(4X2)unitsunits,TheoryofAbsoluteAdvantageAnExample,TermsofTrade(RatioofInternationalPrices),TheoryofAbsoluteAdvantageAnExample,GainsfromSpecializationandTrade,TheoryofComparativeAdvantage,ComparativeAdvantageAnationhasacomparativeadvantageinproducingthegoodinwhichitsabsolutedisadvantageisless.TheoryofcomparativeadvantagewasdemonstratedbyRicardoin1817.,TheoryofComparativeAdvantage-AnExample,Japanhasarelativeorcomparativeadvantageinproducingautos.,TheoryofComparativeAdvantage-AnExample,Ifeachcountryspecializes,thenfor2unitsinspecialization,outputisasfollows:,(6X2)(4X2)unitsunits,TheoryofComparativeAdvantage-AnExample,TermsofTrade(RatioofInternationalPrices),TheoryofComparativeAdvantage-AnExample,FinalResult,TheoryofComparativeAdvantage-AnExample,GainsfromSpecializationandTrade,ClassicalTradeTheory,NationalProductionPossibilitiesProductionPossibilitiesFrontiers,ProductionPossibilityFrontiers,SpecializationofProductionandtheBenefitsofTrade,ClassicalTradeTheory,OpportunityCostsTheGainsFromInternationalTradeConcludingPointsAboutClassicalTradeTheoryDivisionofLaborComparativeAdvantageGainsFromTrade,FactorProportionsTradeTheory,DevelopedbyEliHeckscher,ExpandedbyBertilOhlin,FactorProportionsTradeTheoryConsidersTwoFactorsofProduction,LaborCapital,FactorProportionsTradeTheory,Acountrythatisrelativelylaborabundant(capitalabundant)shouldspecializeintheproductionandexportofthatproductwhichisrelativelylaborintensive(capitalintensive).,FactorProportionsinProduction,FactorProportionsTradeTheory,FactorIntensitiesFactorProportionsFactorEndowments,FactorPrices,andComparativeAdvantageAssumptionsoftheFactorProportionsTheory,TheLeontiefParadox,TheTest:CouldFactorProportionsTheorybeusedtoexplainthetypesofgoodstheUnitedStatesimportedandexported?TheMethod:Input-outputanalysis,TheLeontiefParadox,TheFindings:TheU.S.exportedlabor-intensiveproductsandimportedcapital-intensiveproducts.TheControversy:Findingsweretheoppositeofwhatwasgenerallybelievedtobetrue!,OverlappingProductRangesTheory:StaffanBurenstamLinder,Tradeinmanufacturedgoodsdictatednotbycostconcerns,butbysimilarityinproductdemandsacrosscountries.Workfocusedonpreferencesofconsumerdemand.Today,termedmarketsegments.,InternationalInvestmentandProductCycleTheory,TheStagesoftheProductCycleStage1:TheNewProductStage2:TheMaturingProductStage3:TheStandardizedProductTradeImplicationsoftheProductCycleProductCycleTheory,TradePatternsandProductCycleTheory,ProductCycleTheory,RaymondVernonFocusontheproduct,notitsfactorproportionsTwotechnology-basedpremises,ProductCycleTheory:VernonsPremises,TechnicalinnovationsleadingtonewandprofitableproductsrequirelargequantitiesofcapitalandskilledlaborTheproductandthemethodsformanufacturegothroughthreestagesofmaturation,StagesoftheProductCycle,TheNewProductTheMaturingProductTheStandardizedProduct,TheProductCycleandTradeImplications,IncreasedemphasisontechnologysimpactonproductcostExplainedinternationalinvestmentLimitationsMostappropriatefortechnology-basedproductsSomeproductsnoteasilycharacterizedbystagesofmaturityMostrelevanttoproductsproducedthroughmassproduction,TheNewTradeTheory,EconomiesofScaleandImperfectCompetitionInternalEconomiesofScaleAbandonedProductRangesIntra-industryTradeProductDifferentiationExternalEconomiesofScale,TheNewTradeTheory:StrategicTrade,TwoNewContributionsPaulKrugman-HowtradeisalteredwhenmarketsarenotperfectlycompetitiveMichaelPorter-Examinedcompetitivenessofindustriesonaglobalbasis,StrategicTrade,KrugmansEconomicsofScale:,InternalEconomiesofScale,ExternalEconomiesofScale,StrategicTrade,GovernmentcanplayabeneficialrolewhenmarketsarenotpurelycompetitiveTheoryexpandstogovernmentsroleininternationaltradeFourcircumstancesexistthatinvolveimperfectcompetitioninwhichstrategictrademayapply,StrategicTrade,TheFourCircumstancesInvolvingImperfectCompetition:,Price,Cost,Repetition,Externalities,PortersDiamondofNationalAdvantage,InnovationiswhatdrivesandsustainscompetitivenessTheCompetitiveAdvantageofNationsFactorConditionsDemandConditionsRelatedandSupportingIndustriesFirmStrategy,StructureandRivalry,DeterminantsofNationalCompetitiveAdvantage:PortersDiamond,MichaelPortersCompetitiveClusters,Criticalm