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Empirical Research on Trade Liberalisation with Imperfect Competition: A Survey

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  • J. David Richardson

Abstract

Orthodox trade theory rests on a number of unrealistic assumptions which include, among others, constant returns to scale in production and perfect competition in product and factor markets. This has led many commentators to express strong skepticism about the policy conclusions flowing from the orthodox framework. In response to these concerns, a rapidly-growing literature has developed over the past decade which incorporates more realistic features of the trading system such as imperfect competition, increasing returns to scale and product differentiation. This paper presents a review of the empirical research on the "new trade" theories. Section II outlines briefly the theoretical framework for the empirical research. The results from a series of partial and general equilibrium studies are surveyed in Section III. The final section suggests some directions for future work in this area ... La théorie traditionnelle de l'échange international repose sur un certain nombre d'hypothèses irréalistes telles que, par exemple, les rendements constants à l'échelle au niveau de la production et la concurrence parfaite sur les marchés des produits et des facteurs. Ceci a motivé de nombreux commentateurs à exprimer de fortes réserves quant aux conclusions pour la politique économique tirées des modèles basés sur la théorie traditionnelle. Devant ces inquiétudes, une littérature foisonnante s'est développée au cours de la dernière décennie, incorporant des caractéristiques plus réalistes du système des échanges internationaux, telles la concurrence imparfaite, les rendements croissants à l'échelle et la différenciation des produits. Ce texte présente un survol de la recherche empirique portant sur les "nouvelles théories" relatives aux échanges. La Section II décrit brièvement le cadre théorique servant d'assise à la recherche empirique. Les résultats d'une série d'études basées soit ...

Suggested Citation

  • J. David Richardson, 1988. "Empirical Research on Trade Liberalisation with Imperfect Competition: A Survey," OECD Economics Department Working Papers 58, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:58-en
    DOI: 10.1787/576532716180
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    Cited by:

    1. Dutz,Mark Andrew, 1991. "Firm output adjustment to trade liberalization : theory with application to the Moroccan experience," Policy Research Working Paper Series 602, The World Bank.
    2. Steven Globerman, 1990. "Trade liberalization and competitive behavior: A note assessing the evidence and the public policy implications," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(1), pages 80-88.
    3. 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.
    4. Nicolas Schmitt, 1990. "New International Trade Theories and Europe 1992: Some Results Relevant for EFTA Countries," Journal of Common Market Studies, Wiley Blackwell, vol. 29(1), pages 53-73, September.
    5. David Greenaway & Robert C. Hine, 1991. "Intra‐Industry Specialization, Trade Expansion and Adjustment in the European Economic Space," Journal of Common Market Studies, Wiley Blackwell, vol. 29(6), pages 603-622, December.
    6. Kala Krishna & Kathleen Hogan & Phillip Swagel, 1989. "The Non-Optimality of Optimal Trade Policy: The U.S. Automobile Indust ry Revisited, 1979-1985," NBER Working Papers 3118, National Bureau of Economic Research, Inc.
    7. Thursby, Marie C. & Thursby, Jerry G., 1991. "Strategic Trade Theory and Agricultural Markets: An Application to Canadian and U.S. Wheat Exports to Japan," Occasional Papers 233062, Regional Research Project NC-194: Organization and Performance of World Food Systems.

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