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International Trade PDF

356 Pages·2013·25.29 MB·English
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INTERNATITORADNEAL ECONOMICA NALYSIOSF GLOBALIZATIAONND POLICY johnM cLaren Univeorfs Viityr ginia WILEY VP& EXECUTIPVUEB LISHER GeorHgoeff man EXECUTIVE EDITOR JoeHlo llenbeck CONTENETD ITOR JennMiafneira s ASSISTANT EDITOR CourtLnuezyz i EDITORIAASLS ISTANT EriHcoar owitz ASSOCIADTIREEC TOR OFM ARKETING AmyS cholz SENIOMRA RKETINGM ANAGER JesCsreu z PRODUCDTE SIGNER GreCgh aput SENIOMERD IA SPECIALIST EleSnaan Mtaari a PRODUCTIMOANN AGER LuciBluloen ocore SENIOPRR ODUCTIEODNI TOR SujHionn g PHOTOR ESEARCHER ElliWnaogrn er SENIODRE SIGNER MaureEeinde COVERP HOTO L.V esHto,u stPoinl Aostsso ciation Thibso owka ss eitn T imeRse gulbayMPr S Limitaenddp rinatneddb ounbdy C ourier CompanTiheecs o.v wears p rintbeydC ourCioemrp anies. Thibso oiksp rinotnea dc ifrde ep apeoo r. Foundien1d 8 0J7o,h Wni le&y S onIsn,c h.a bse eanv aluseodu rocfkne o wledagnedu nder­ standfionmrgo rteh an2 00y earhse,l ppienogp alreo utnhdwe o rlmde ethte inre edansd f ulfill theaisrp iraOtuirco onmsp.a insby u iolnat fo undatoifpo rni nctihpailtne csl ruedsep onstiob ility thceo mmuniwteis eesr anvde wherwee l ivaen dw orkI.n2 008w,el auncah Ceodrp orate CitizeInnsihtiipaa g tliovbeeaf,lf toora td drtheese sn vironmseonctieaacllo,,n omanidce ,t hical challewnefg aecisen o ubru sinAemsosn.tg h ies suweeas r aed dresasrciean rgb iomnp apcatp,e r specificaantpdir ooncsu reemtehnictco,an ld wuictth oiunbr u sinanedsa sm onogu vre ndoarnsd, communanidt cyh aritasbulpep oFrotmr. o rien formaptlieoavnsi,eso iutwr e bsite: www.wiley .com/go/citizenship. Copyri©g h2t01J3o hWni le& yS onIsn,cA .lr li grhetsse rved. Nop arto ft hpiusb licmaatybi eor ne prodsutcoeriden,ad r etriesvyaslto ertrm a nsmiitnat neyd formo rb yan y means, electronic, mecrheacnoircdsaiclna,gn ,nop irohn toght eorcwoipsyei,n g, exceapspt e rmiutntdeSeder c ti1o0n7os r1 08o ft h1e9 7U6n itSetda tCeosp yrAicgthw,ti thout eithethrep riowrri ttpeenr misosfti hoPenu blisohrae urt,h oritzhartoiupoganhy meonftt h e appropprieart-ecfe oept yot hCeo pyrCilgehatr CaenncteIe nrc2,.2 2R osewoDordi vDea,n vers, MA 0192w3e,b swiwtwe. copyrigRhetq.ucetosomtt .hsP e u blifsohpree rr missshioounble d addretsots hePede rmisDseipoarntsm JeonhtWn,i le& yS onIsn,c 1.1,R1 i vSetrr eHeotb,o kNeJn , 07030-5(727041,) 748f-a6(x02 1011,) 748w-e6b0s0hi8tt,te p ://www.wiley.com/go/permissions. Evaluactoipoianer pser ovitdoqe uda liaficeadd emainpcdrs o fessifoornrea vlispe uwr poosnelsy , fours ien t hecioru rdsuersi tnhgne e xatc adeymeiacTr h.e sceo piaerlsei cenasnemdda yn obte solodrtr ansferrteoad t hird partcyo.m pUlpeootfnit ohrnee vipeewr ipolde,a rseet urnt he evaluactoipotyno W ileRye.turn instruacntdia o frneseo fc harrgeet urnm aililnagba erle availaatwb wlwe. wiley.com/gIofy/ orueh taurnlvcaehb oeslte.oan d otphtit se xtbfoorou ksi en youcro urpslee,a se acbcoeopakts y otuchroi msp limednetsakr ycO ouptys.oi fdte h Uen ited Statpelse,ac soen tyaocutlr o csaall reesp resentative. ISBN-91738:- 0-470-40879-7 Prinitnte hdUe n itSetda toefAs m erica 10 9 8 7 6 5 4 3 2 1 ToE llaK,e nnanA,l eva,n do,f c oursteo,M om. ABOUT THEA UTHOR JohnM cLaren'rse searhcahsr angeadc rostsh ef ielodfsi nternatiotnraald e, developmienndtu,s troiragla nizaatinodnp ,o liteiccoanlo mayn,d h asa ppeariend theA mericEacno nomiRce vieQwu,a rteJroluyrn aolf E conomitchse,R evieowf Economic Staunddai r easn,g oefo thero utleHtesr .e ceihviePsdh Da tPr inceton in 1992h,a st augahttt hUen iversoifVt iyr ginia2 s0i00na,cn eda to net imoer a nother hasa lstoa ugahttPr incetoYna,l eC,o lumbitah,eU niversoifMt ayr ylanda,n d­ fartheasfti eld-Utnhiev ersoiftW yo rldE conomayn dD iplomaicnyT ashkent, Uzbekistan. PREFACE Approach Thiiss a textbofoork u ndergradMuBaAt,ea ,n dM astero'fPs u blAidcm in­ istratcioounr siensi nternatieocnoanlo miIctsi .s a ppropritaote ei thae r one-semecsotuerrsi eni nternatieocnoanlo miwcist thw oo rt hrewee ekosf macroeconotmoipcisoc rsa c oursspee cialiiniz netde rnatitornaadTleh .i tse xt covearlsol f t hec onventitohneaoltr hya utn dergradauraeet xepse ctteold e arn ina couroseft hasto rbtu,tp resenitnea dr adicadlilffye rewnaty A. standard courisnei nternatitornaadwlei lplr eseans te quenocfme o dels-tRhiec ardian models,p ecifafcitco rHse,c kscher-Oahnldia n fe,w others-follouwpi ng eacthh eoretmiocdaelwl i tahn a pplicattooi noeno rm orep oliqcuye stioorn s witah d iscussoifeo mnp irical eviTdheitnsic mee.- temsettehdow do rkfsa irly wellp,a rticulwairtlhhy i ghlmyo tivatsetdu denbtusti, t s ufferfrso m two importlanitm itattihoaInth s a ven oticaeftde lro negx perience. • Thea bsorptoifto hnte h eosryu fferfrso m a lacokf e nthusibaescma,u se for mosstt udenittis sd iffitcous luts tamiont ivattihorno utghhem any technidceatla irlesq uirteodu ndersttahnedm odelwse llb,e foret he usefulnofet shsem odehla sb eene stabliisnht ehdem indo ft hes tudent. • Thea pplicoaftt hiteoh ne osryuff erbse cautshees tudetnetn dtsot hinokf "theorayn"d" policayst" w od ifferetnotp icwsh,i crhe fert oe acoht her butd on otd epenodn e acoht heirna nyc ruciwaaly O.ft ent,h er eal-world applicatairoepn rse senitnet de xbto xewsh,i cshi gntaolt hes tudetnhtast theayr en otp arotft heco rmea terainadla ruen likteolb yeo nt hee xamI. havfoeu ndt haitnp ractsitcued,e tnetnstd os uffetrh routghhte h eortyh,e n perukp s omewhdautri ndgi scussoifpo onl iccoyn trovebrustig eesn,e rally faitlom akea s troncgo nnectbieotnw etehnet woW.h en,a tt heen do fm y coursIeh ,a vea ssignae sdh orwtri tteans signmiennw th icsht udeanrtes requitroea dn alyazr ee al-wotrralddep olicIhy a,v foeu ndt haetv esnt u­ dentwsh oh avuen dersttohoetd h eoretmiocdaellr se asonawbellsyli mply don otu set hemi na nalyzrienagl -woprrlodb lePmust.d ifferenutsliy,n g economtihce oirsya d ifferesnktifr lolm merelyu ndersteacnodnionmgic theorayn,do ure conomiccosu rsoeusg httoa imt ot eacthh issk ill. Int hitse xIth aveu sewdh atI c altlh ei nvertseicohnn iIqi nutreo:d uac e real-woprolldip cryo blaetmt hbe eginonfie ancgth o piacn,ds pensdo met ime presenttihnekg e yfa ctsan d backgrousnhdo,w intgh es tudenwthsy the probleimsi mportant, aac hcieervtialniegnv eolfe motionianlv estmienn t thep oliqcuye stiIot nh.e pnr eseonnteo rm orek eya rgumentthsaa tr em ade ina nsweritnhgeq uestiboya nd vocafotreo sn ea nsweorra nothaenrd,t heinn, thper oceosfes l ucidatthipena gr ticaurlgaru meInw tan tt oh ighliIgp hrets,e nt PREFACE at heoretmiocdaeltl h aitsn ecestsoau ryn derstthaaantrd g umeInnt th.iws a y, the theorym odeil sn ots eparafrtoem ani nquiirnyt thoe reawlo rldb,u ti ti s presenatteth de outsaesta tooforl u nderstantdhiewn ogr lda,n dt hes tudents appreciiatat sea possibsloel utitooa nn i mportraenatl -woqruleds tion. SincIeb egauns intgh itse chnitqoup er esemnyt c oursaett heU niversoift y VirginIi haa,v e fouan sdh arpi mprovemeinnst t udenetnsg'a gemewnitth them ateri(aalnm dy owne njoymeonfit t E)a.c hm ajotrh eoretiidceacala nb e motivabteyad v ivipdr oblefrmo m the reawlo rlFdo.r e xamplIei ,n trodutchee Ricardimaond enlo ta sa t heoorfyw hyn atiotnrsa dieng enerbault,a sp arto f thea nswetrot heq uesti"oSnh:o ulNdi gerpiuar susee lf-sufficiinfoe ondc?y" Theg overnmenotfN igerhiaasi ndeehda dfo ods elf-suffiacsai nee nxcpyl icit goalfo r manyy earsa,n di nf acfotr severyaela risn th e 1980bsa nnerdi ce imporatssa s tetpo a chieviitnS.go mea rgumenctasnb em adei nfa voro ft his sorotf p oliciyns omec asewsh,i cIh n oteb,u te conomiosvtesr whelmingly rejethcits a sh elpfuplo licbye,c ausietd eniethse counttrhye b enefiotfs specializoantt ihoebn a siosf c omparatiavdev antaTghee.R icardiamno del makest halti noef a rgumeanstc leaarsi tc anb e,i ncludthien go bservation, surprisitnogm anyn oneconomithsattsa , c ountmrayy wellb oositt foso d consumptiboyn a bandonifonogd self-sufficbieecnacuys,oe f t heh igher incometsh arte sufrlotm theg ainfrso m tradIen.th isw ay,t heR icardimaond el unfortunatbeultly i terbaelcloym easm attoefrl ifea ndd eatha,n dv astmloyr e interesttosi tnug dentthsai nf i tw asa merea bstraecxte rcise. Coverage Althoutghh em anneorf p resentaitsiu onnu suaaln,d th e tabloef c ontents showass erioefsr eal-woprolldi pcryo blermasth etrh athne oretitcoapli ctsh,e textbocookn taitnhsfue l ls eotft heoremtoidceaclolsn taiinnea dn ys tandard internatitoenxatlb oporke,s enitnefudl aln alyrtiigcAoasrla .r esuolnte,m ight weliln terptrheivtso lumaes a conventitornaadtleh eotreyx tboiondk i sguise, althouIgh ho pei tcso ntributwiiolbnle g reattehra tnh aIth .a vel aiodu ti nth e accompanytiwnogt ablwehsi cmho deils c overiende acchh aptTehre.T heory Guidseh owas b rielfi sotfth e mainth eoriyd eawsi,t thh ec haptleorc atoifo n eacohn ea,n dth e ChaptLeirs wti tDhe tailGeudi dteo T heorCyo ntensthso ws thet heorcyo nteinnte achc hapter. Technical Level Thet echnilceavleo lft het exitsm oderatTeh.et exdto enso tu sec alculbuust, manym odelisn volthvee s imultanseooluust iooftn w ol ineeaqru atiwoinths twou nknownasn da l ootf f airellya bordaitaeg raamrsea nalyzweidt ahl ootf geometrKye.y m icroeconotmoioclar se definebde foreb einugs eds,o o ne couluds et hec ourswei tohn layPri nciplecso ursaesa p rerequiaslithtoeu,gI h thinkt hastt udenatrsel iketloyg ett hem osto uto fi ti fth eyh avea lready completiendt ermedmiiactreo economTihceas n.a lyosfith se modelissf airly detailbeudtI, havefo undth atb uildienagc hc haptaerro unad m otivating exampleen hancsetsu denwtisl'l ingtnoep suss ht hroudgeht aielqeudi librium analysIinst .h aste nsthee, factuamla teritahlab te ginesa chc haptaenrd t he theoretieclaalb oratthiaomtnak esu pt heb ulokf t hec haptsehro ulbdes eeans complemenntosts, u bstitutes.

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