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International trade and economic development

In: Handbook on Alternative Global Development

Author

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  • Amitava Krishna Dutt

Abstract

The relationship between international trade and economic development is reviewed by distinguishing between three approaches: one which argues that openness to international trade is beneficial for development, and free trade is the best policy; another, which recognizes that trade may have negative effects on development, and government intervention, include import tariffs are required; and third, argues against the overemphasis on trade for development, and criticizes viewing development as economic growth, industrialization and aspects of human development as in the other approaches. To do so it: provides a brief history of international trade in the context development; discusses alternative conceptualizations of economic development; critically reviews earlier ideas on, and more recent models and theories of international trade; summarizes empirical studies on trade and development; and examines the broader issues of global political economy and the environment.

Suggested Citation

  • Amitava Krishna Dutt, 2023. "International trade and economic development," Chapters, in: Franklin Obeng-Odoom (ed.), Handbook on Alternative Global Development, chapter 8, pages 123-142, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:19914_8
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    File URL: https://www.elgaronline.com/doi/10.4337/9781839109959.00018
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