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The Discipline of International Trade

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  • Ronald W. Jones

Abstract

International economics has distinguishing characteristics which make it a unique sub-field in economics. It is vitally concerned with the co-existence of markets with overlapping domains - some markets are national and some international, with different rules applicable to residents of different countries. This paper describes various ways in which these markets interact, and how such basic propositions as factor-price equalization emerge as core results of the theory. Countries wish to preserve some control over certain markets, e.g. labor markets and a variety of services. As a consequence, free trade in all markets is not "optimal", even for a small country.

Suggested Citation

  • Ronald W. Jones, 1995. "The Discipline of International Trade," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 131(III), pages 273-288, September.
    • Handle: RePEc:ses:arsjes:1995-iii-1
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    References listed on IDEAS

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    1. Paul A. Samuelson, 1953. "Prices of Factors and Goods in General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(1), pages 1-20.
    2. James R. MARKUSEN, 2021. "Factor Movements And Commodity Trade As Complements," World Scientific Book Chapters, in: BROADENING TRADE THEORY Incorporating Market Realities into Traditional Models, chapter 15, pages 325-340, World Scientific Publishing Co. Pte. Ltd..
    3. Jeremy Greenwood & Kent P. Kimbrough, 1987. "An Investigation in the Theory of Foreign Exchange Controls," Canadian Journal of Economics, Canadian Economics Association, vol. 20(2), pages 271-288, May.
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    6. Schmitz, Andrew & Helmberger, Peter, 1970. "Factor Mobility and International Trade: The Case of Complementarity," American Economic Review, American Economic Association, vol. 60(4), pages 761-767, September.
    7. Kalyan K. Sanyal & Ronald W. Jones, 2018. "The Theory of Trade in Middle Products," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 13, pages 203-231, World Scientific Publishing Co. Pte. Ltd..
    8. Jones, R.W. & Marjit, S., 1992. "International Trade and Endogenous Production Structures," RCER Working Papers 312, University of Rochester - Center for Economic Research (RCER).
    9. J. Peter Neary, 1985. "International Factor Mobility, Minimum Wage Rates, and Factor-Price Equalization: A Synthesis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(3), pages 551-570.
    10. Feeney, JoAnne, 1994. "Goods and Asset Market Interdependence in a Risky World," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(3), pages 551-563, August.
    11. Ronald W. Jones, 1980. "Comparative and Absolute Advantage," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 116(III), pages 235-260, September.
    12. Jones, Ronald W, 1989. "Co-movements in Relative Commodity Prices and International Capital Flows: A Simple Model," Economic Inquiry, Western Economic Association International, vol. 27(1), pages 131-141, January.
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    Cited by:

    1. Kikuchi, Toru & Long, Ngo Van, 2012. "A decomposition of Ricardian trade gains," International Review of Economics & Finance, Elsevier, vol. 21(1), pages 173-176.
    2. Casella, Alessandra & Rauch, James E., 2002. "Anonymous market and group ties in international trade," Journal of International Economics, Elsevier, vol. 58(1), pages 19-47, October.
    3. Ronald Jones & Sugata Marjit, 2009. "Competitive trade models and real world features," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 41(1), pages 163-174, October.

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