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Two-way Trade

In: A Generalized Theory of International Trade

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  • H. Peter Gray

Abstract

Simultaneous exports and imports of a single good constitute two-way trade for a nation. The quantitative importance of this type of trade pattern is prima facie evidence of the inadequacy of the orthodox body of theory to provide a realistic framework for analysis of modern patterns of international trade. This chapter will show how two-way trade can take place between a nation and its trading partners and will identify the main characteristics of the trading nations that will give rise to two-way trade.

Suggested Citation

  • H. Peter Gray, 1976. "Two-way Trade," Palgrave Macmillan Books, in: A Generalized Theory of International Trade, chapter 11, pages 172-186, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02883-2_11
    DOI: 10.1007/978-1-349-02883-2_11
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