世界经济教学资料 3 political economy of inernationaltrade.pptVIP

Overlapping Product Ranges Theory:Staffan Burenstam Linder Trade in manufactured goods dictated not by cost concerns, but by similarity in product demands across countries. Work focused on preferences of consumer demand. Today, termed market segments. International Investment and Product Cycle Theory The Stages of the Product Cycle Stage 1: The New Product Stage 2: The Maturing Product Stage 3: The Standardized Product Trade Implications of the Product Cycle Product Cycle Theory Trade Patterns and Product Cycle Theory Product Cycle Theory Raymond Vernon Focus on the product, not its factor proportions Two technology-based premises Product Cycle Theory:Vernon’s Premises Technical innovations leading to new and profitable products require large quantities of capital and skilled labor The product and the methods for manufacture go through three stages of maturation Stages of the Product Cycle The New Product The Maturing Product The Standardized Product The Product Cycle and Trade Implications Increased emphasis on technology’s impact on product cost Explained international investment Limitations Most appropriate for technology-based products Some products not easily characterized by stages of maturity Most relevant to products produced through mass production The New Trade Theory Economies of Scale and Imperfect Competition Internal Economies of Scale Abandoned Product Ranges Intra-industry Trade Product Differentiation External Economies of Scale The New Trade Theory: Strategic Trade Two New Contributions Paul Krugman-How trade is altered when markets are not perfectly competitive Michael Porter-Examined competitiveness of industries on a global basis Strategic Trade Krugman’s Economics of Scale: Internal Economies of Scale External Economies of Scale Strategic Trade Government can play a beneficial role when markets are not purely competitive Theory expands to government’s role in international trade Four circumstances exist that involve imperfe