This comprehensive discussion of international trade theories focuses on logically distinct models of international trade rather than on chronology or “schools of thought.” The author gives primary attention to the differences in the empirical implications derivable from the “Heckscher-Ohlin model” and from the simple classical comparative models of international trade. He also emphasizes the recurrence of controversy over matters of aggregation, due to the lack of a common criterion, and the rich variety of model types that result from dynamic theorizing, discrediting the search for an ultimate dynamic international trade model. This book is intended especially for teachers and graduate students who require a broad understanding of basic theories in the field.
This is a scrupulously comprehensive critical survey of the theories of international trade and its relation to internal economic structure… To specialists and would-be specialists in the field of international trade theory it will immediately become indispensable.
With the…publication of this work…Professor Caves leaps into the rank of first-class economists in the field of international trade… The main theme throughout the analytical account of the literature on the roles of factors of production, conditions of production, and demand in the determination of the structure of trade is the clash between the neoclassical theory and the Heckscher-Ohlin approach… The virtues of the book are manifold. Professor Caves writes well and not without humor. His analytical powers are keen, and his facility for summarization impressive. The coverage is enormous, as shown by the twenty-page Bibliography. The book is superbly indexed.
In Trade and Economic Structure economists again have available an imaginative, painstaking, and exhaustive survey of the pure theory of international trade. The book is, without reservation, a reference work of the first magnitude.
- 317 pages
- Harvard University Press
From this author
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