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State Trading and the Theory of International Trade

In: State Trading in International Markets

Author

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  • P. J. Lloyd

Abstract

Direct participation by the state in international trading activities is only one of very many forms of state intervention in the flow of commodities across national borders. All forms of intervention distort the pattern of trade from what it would have been in the absence of intervention. There is a well-developed theory of intervention which quantifies the magnitude of government interventions and predicts their effects on the quantities traded, consumed and produced of commodities. Somewhat surprisingly, in view of its significant share of total global commodity trade,l state trading has not been widely analysed in the terms of international trade theory. The only extensive analyses of state trading, as far as I am aware, are those of Meade (1955) and Humphrey (1959).2 Most of the literature on state trading has been concerned with trade in which either the Soviet Union and other centrally-planned economies or the developing countries provide at least one of the trading partners. This seems to have promoted a tendency to regard state trading as a problem in compara­tive systems, even though state trading is widespread (see Kostecki, 1978, 1979).3

Suggested Citation

  • P. J. Lloyd, 1982. "State Trading and the Theory of International Trade," Palgrave Macmillan Books, in: M. M. Kostecki (ed.), State Trading in International Markets, chapter 6, pages 117-141, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05887-7_7
    DOI: 10.1007/978-1-349-05887-7_7
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    Citations

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    Cited by:

    1. Ghosh, Madanmohan & Whalley, John, 2008. "State owned enterprises, shirking and trade liberalization," Economic Modelling, Elsevier, vol. 25(6), pages 1206-1215, November.
    2. Sorenson, Vernon L., 1989. "State Trading in International Agricultural Markets," Staff Paper Series 201024, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    3. McCorriston, Steve & MacLaren, Donald, 2005. "Single-desk state trading exporters," European Journal of Political Economy, Elsevier, vol. 21(2), pages 503-524, June.
    4. McCorriston, Steve & MacLaren, Donald, 2005. "The trade distorting effect of state trading enterprises in importing countries," European Economic Review, Elsevier, vol. 49(7), pages 1693-1715, October.
    5. McCorriston, Steve & MacLaren, Donald, 2007. "Do state trading exporters distort trade?," European Economic Review, Elsevier, vol. 51(1), pages 225-246, January.
    6. Dixit, Praveen M. & Josling, Timothy E., 1997. "State Trading In Agriculture: An Analytical Framework," Working Papers 14608, International Agricultural Trade Research Consortium.
    7. McCorriston, Steve & MacLaren, Donald, 2001. "The Trade Distorting Effect Of Single-Desk State Trading Exporters," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 125790, Australian Agricultural and Resource Economics Society.
    8. Ahmadi-Esfahani, Fredoun Z., 2009. "Estimation of trade elasticities in the presence of trade barriers, multinationals and imperfect competition," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(3), pages 1-8.
    9. Yoon, Jung-hyun & Lim, Song Soo, 2013. "Potential trade distortion effects of state trading enterprises under the tariff-rate quota scheme," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 7, pages 1-19.
    10. Yoon, Jung-Hyun & Lim, Song Soo, 2013. "Potential trade distortion effects of state trading enterprises under the tariff-rate quota scheme," Economics Discussion Papers 2013-22, Kiel Institute for the World Economy (IfW Kiel).

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