Open AccessThe Basic for Trade According to International Trade Theories and Their Relation with Trade Policies
Author(s) -
Gražina Jatuliavičienė
Publication year - 1999
Publication title -
ekonomika
Language(s) - English
Resource type - Journals
eISSN - 2424-6166
pISSN - 1392-1258
DOI - 10.15388/ekon.1999.16603
Subject(s) - comparative advantage , economics , trade barrier , new trade theory , international trade , imperfect competition , relation (database) , competition (biology) , imperfect , commercial policy , economies of scale , international economics , economic integration , neoclassical economics , microeconomics , computer science , ecology , linguistics , philosophy , database , biology
In the article is presented an overview over some of the competing theories aimed at explaining the basis and gains of international trade. Key classical concepts such as absolute and comparative advantage are explained and extended to include modern-day realities. The article also deals with important new trade theories, which base trade on economies of scale and imperfect competition, as well as on competitive advantage. This leads to the theoretical evaluation of a country’s trade policies and their impact on export performance.