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A critique of modern theories of trade

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  • Uddin, Godwin

Abstract

This article recapitulates some of the trade theories reputed to be of the twentieth century. Here, the Heckscher-Ohlin theory (with some of its variants), endogenous growth theory, product cycle theory, and new trade theory were considered. This review thereof, amidst others, highlight some of the assumptions of these theories and thus present some critique of the same theories.

Suggested Citation

  • Uddin, Godwin, 2021. "A critique of modern theories of trade," MPRA Paper 105194, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:105194
    as

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    File URL: https://mpra.ub.uni-muenchen.de/105194/1/MPRA_paper_105194.pdf
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    References listed on IDEAS

    as
    1. Krugman, Paul R., 1979. "Increasing returns, monopolistic competition, and international trade," Journal of International Economics, Elsevier, vol. 9(4), pages 469-479, November.
    2. Nathaniel P. S. Cook & Jason C. Jones, 2021. "The African Growth and Opportunity Act and growth in sub‐Saharan Africa: A local projection approach," The World Economy, Wiley Blackwell, vol. 44(1), pages 234-261, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Trade; Critique; Heckscher-Ohlin theory; endogenous growth theory; product cycle theory; new trade theory;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General
    • F00 - International Economics - - General - - - General
    • F1 - International Economics - - Trade
    • F10 - International Economics - - Trade - - - General

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