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Intermediation and Economic Integration
Author(s) -
Pol Antràs,
Arnaud Costinot
Publication year - 2010
Publication title -
american economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.936
H-Index - 297
eISSN - 1944-7981
pISSN - 0002-8282
DOI - 10.1257/aer.100.2.424
Subject(s) - economics , intermediation , neoclassical economics , macroeconomics
The theory of international trade has paid scantattention to market institutions. Neither neoclassicaltheory nor new trade models typically specify theprocess by which supply and demand meet. Yet in thereal world, intermediaries play a central role in materializingthe gains from exchange outlined by standardtrade theories

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