IDEAS home Printed from https://ideas.repec.org/a/psl/bnlqrr/199633.html
   My bibliography  Save this article

Free trade: why, when and for whom?

Author

Listed:
  • D. NAYYAR

    (Jawaharlal Nehru University)

Abstract

The free-trade argument as situated in the normative dimension of orthodox theory had an explicit prescriptive role of expressing that free trade is efficient. Moreover, the factor-price equalisation theorem as framed in the positive dimension of orthodox theory served an implicit prescriptive role stating that free trade is also equitable. As evidenced by the influence of political realities the developments in the international trading system, there has been variation in the application of the free trade doctrine across time. The evolution of economic thinking about free trade is examined. Amongst the important issues explored are the reasons for departure from free trade. The reality of the present pattern of free trade is considered in the light of the Uruguay Round agreement.

Suggested Citation

  • D. Nayyar, 1996. "Free trade: why, when and for whom?," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 49(198), pages 333-350.
    • Handle: RePEc:psl:bnlqrr:1996:33
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10690/10575
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Krugman, Paul R, 1987. "Is Free Trade Passe?," Journal of Economic Perspectives, American Economic Association, vol. 1(2), pages 131-144, Fall.
    2. Paul Krugman, 1986. "Strategic Trade Policy and the New International Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262610450, April.
    3. Nayyar, Deepak, 1988. "The Political Economy of International Trade in Services," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 12(2), pages 279-298, June.
    4. Douglas A. Irwin, 1991. "Retrospectives: Challenges to Free Trade," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 201-208, Spring.
    5. Eichengreen, Barry, 1984. "Keynes and Protection," The Journal of Economic History, Cambridge University Press, vol. 44(2), pages 363-373, June.
    6. Bhagwati, Jagdish, 1994. "Free Trade: Old and New Challenges," Economic Journal, Royal Economic Society, vol. 104(423), pages 231-246, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Deepak Nayyar, 2010. "China, India, Brazil and South Africa in the World Economy: Engines of Growth?," Working Papers id:3039, eSocialSciences.
    2. Deepak Nayyar, 2008. "China, India, Brazil and South Africa in the World Economy: Engines of Growth?," WIDER Working Paper Series DP2008-05, World Institute for Development Economic Research (UNU-WIDER).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. D. Nayyar, 1996. "Free trade: why, when and for whom?," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 49(198), pages 333-350.
    2. Daw Ma, 2014. "Can Emerging Market Protectionism Be Beneficial?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(9), pages 1175-1189, September.
    3. Margaret A. Walls, 1990. "Welfare Cost Of An Oil Import Fee," Contemporary Economic Policy, Western Economic Association International, vol. 8(2), pages 176-189, April.
    4. Christos N. Pitelis, 2011. "Foreign Direct Investment and Economic Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 1, Edward Elgar Publishing.
    5. Sebastian Krapohl & Václav Ocelík & Dawid M. Walentek, 2021. "The instability of globalization: applying evolutionary game theory to global trade cooperation," Public Choice, Springer, vol. 188(1), pages 31-51, July.
    6. Hans Haller & Richard Milam, 2010. "Protection at Stake," Korean Economic Review, Korean Economic Association, vol. 26, pages 267-286.
    7. Christos Pitelis, 2013. "Towards a More ‘Ethically Correct’ Governance for Economic Sustainability," Journal of Business Ethics, Springer, vol. 118(3), pages 655-665, December.
    8. Joseph E. Stiglitz, 1997. "Dumping on Free Trade: The U.S. Import Trade Laws," Southern Economic Journal, John Wiley & Sons, vol. 64(2), pages 402-424, October.
    9. Baldwin, Robert E, 1992. "Are Economists' Traditional Trade Policy Views Still Valid?," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 804-829, June.
    10. Niclas Berggren & Henrik Jordahl, 2005. "Does free trade really reduce growth? Further testing using the economic freedom index," Public Choice, Springer, vol. 122(1), pages 99-114, January.
    11. Kresimir Zigic, 2011. "Strategic Interactions in Markets with Innovative Activity: The Cases of Strategic Trade Policy and Market Leadership," CERGE-EI Books, The Center for Economic Research and Graduate Education - Economics Institute, Prague, edition 1, number b06, May.
    12. Brander, James A., 1995. "Strategic trade policy," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 27, pages 1395-1455, Elsevier.
    13. Moon, Wanki, 2011. "Is agriculture compatible with free trade?," Ecological Economics, Elsevier, vol. 71(C), pages 13-24.
    14. Siebert, Horst, 1988. "Strategische Handelspolitik: Theoretische Ansätze und wirtschaftspolitische Empfehlungen," Discussion Papers, Series II 43, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    15. Bilge Aykol & Dayananda Palihawadana & Leonidas C. Leonidou, 2013. "Research on the Import Activities of Firms 1960–2010," Management International Review, Springer, vol. 53(2), pages 215-250, April.
    16. Corden, W. Max, 1990. "Strategic trade policy : how new? how sensible?," Policy Research Working Paper Series 396, The World Bank.
    17. Ibarra, David, 1990. "Privatización y otros acomodos del Estado," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 33513, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    18. Peter A.G. van Bergeijk, 2019. "Deglobalization 2.0," Books, Edward Elgar Publishing, number 18560.
    19. Ahmadi-Esfahani, Fredoun Z., 1994. "Wheat Marketing and Trade: Further Issues for Research - a Comment on Ryan," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), pages 1-7, April.
    20. Peter Welzel, 1992. "A note on the time inconsistency of strategic trade policy," Open Economies Review, Springer, vol. 3(2), pages 203-214, June.

    More about this item

    Keywords

    Free trade;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:bnlqrr:1996:33. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.