The noncompetitive theory of international trade and trade policy

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Abstract

This paper reviews recent theoretical developments in the analysis of trade structure and policy. It emphasizes how understanding monopolistic (noncompetitive) market structures and elements can help explain trade flows and the relation between trade and growth, and can be useful in evaluating tariffs, quotas, and research and development subsidies in noncompetitive markets. Argues that policy should be designed on a case-by-case basis and - because good policies improve welfare only slightly - no intervention (free trade) remains a good rule of thumb. -from Authors

Original languageEnglish
Pages (from-to)193-230
Number of pages38
JournalUnknown Journal
StatePublished - 1990

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