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Agricultural Trade

By Luther Tweeten
ISBN: 9781853391583
A complete coverage of strategic trade theory and application, imperfect competition, market power, and the political economy of agricultural trade. An easy-to-use analysis of trade principles, institutions, and policies.

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Was: £27.95

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  • Synopsis
    A complete coverage of strategic trade theory and application, imperfect competition, market power, and the political economy of agricultural trade. An easy-to-use analysis of trade principles, institutions, and policies.
  • Table of Contents
    List of Tables and Figures ix
    Preface xiii
    Introduction 1
    Other Indicators of the Importance of Agricultural Trade, 2
    Some Historical Developments, 6
    New Developments in World Trade, 10
    Outline, 13
    References, 14
    Conceptualizing Comparative Advantage and the Gains from Trade 17
    Absolute Advantage, 17
    Comparative Advantage, 19
    Modern Theory of Comparative Advantage and Gains from Trade, 24
    Resource Endowment and Trade, 35
    Arguments for Trade Barriers, 40
    A Note on the Theory of the Second Best, 41
    References, 42
    Annex to Chapter 2: Proof of Heckscher-Ohlin Theorem, 44
    Measuring Comparative Advantage, Protection, and the Gains
    from Trade Liberalization 49
    Policy Interventions, 49
    Nominal Protection Coefficient, 49
    Exchange Rate Distortion, 56
    Effective Protection Coefficient, 58
    Domestic Resource Costs: Measuring Comparative Advantage, 61
    Producer and Consumer Subsidy Equivalents, 64
    Classical Welfare Analysis, 67
    A Note on Competitive Advantage, 72
    Conclusions, 74
    References, 74
    4 Border Interventions: Taxes, Subsidies, and Quotas 77
    Interventions by Importers, 78
    Interventions by Exporters, 87
    Import and Export Tax Symmetry, 95
    Conclusions, 96
    References, 96
    5 Agricultural Commodity Programs and World Trade 99
    Farm and Food Commodity Price Ceilings, 100
    Productivity and Trade, 102
    American Commodity Programs, 105
    Mandatory Controls, 110
    Self-Sufficiency Rice Policy in Japan, 112
    European Community Policy, 115
    Conclusions, 120
    References, 121
    6 Macroeconomic Policy, Exchange Rates, and Trade 123
    The Foreign Exchange Market, 125
    Determinants of Demand and Supply of Foreign Exchange, 129
    Foreign Exchange, Supply-Demand Equilibrium, and Price Response, 134
    Balance of Payments, 141
    Macroeconomic Linkages, 143
    The Economic Degradation Process, 147
    Conclusions, 152
    References, 153
    Annex to Chapter 6: Derivation of Marshall-Lerner Condition, 155
    7 Introduction to Strategic Trade Theory 157
    Genesis, 157
    The Theory of Games, 159
    Theory of Duopoly, 163
    Conjectural Variations, 175
    Appropriateness of Strategic Trade Theory, 177
    References, 178
    8 Strategic Trade Theory, Market Power, and the Political Economy of Trade 181
    Relating Strategic Trade Analysis to Traditional Analysis, 181
    Tariffs, Quotas, and Imperfect Competition, 182
    Gains from Market Power, 185
    Grain Export Industry Performance, 194
    Reinterpreting Orthodoxy in the Context of Modern Trade Theory, 196
    Forms of Trade, 198
    Other Political-Economic Considerations, 200
    Conclusions, 201
    References, 202
    9 Institutions and Trade Policies 205
    International Monetary Fund, 205
    World Bank, 208
    General Agreement on Tariffs and Trade (GATT), 210
    International Commodity Agreements, 219
    Bloc or Regional Integration Institutions, 224
    Conclusions, 227
    References, 228
    Annex to Chapter 9: The General Agreement Articles as of 1989, 230
    10 Major Players in World Trade 233
    Three Economic Superpowers, 233
    Other Players, 238
    Third-World Developments, 242
    Justifications for Trade Barriers in Today's World, 245
    Conclusions, 247
    References, 248
    11 American Agricultural Trade Policy 251
    US Trade Institutions for Formulating and Administering Trade Policy, 251
    US Trade Restrictions, 254
    Agricultural Export Assistance, Preferences, and Promotion, 256
    Economic Development Assistance, 261
    New Directions for Trade Policy, 264
    Trade Negotiation Strategy, 270
    Conclusions, 279
    References, 280
    12 Agricultural Trade Models 283
    Theoretical Research, 283
    Empirical Models, 285
    References, 290
    Annex A to Chapter 12: A Multiregion, Multicommodity, Nonspatial,
    Partial Equilibrium, Empirical Model Using Constant Elasticity
    Behavioral Equations, 292
    Annex B to Chapter 12: Policy Analysis with a Simple
    Wheat Trade Model, 297
    Glossary 301
    Index 311
    About the Book and Author 319
  • Details
    Sub Title N/A
    Author Luther Tweeten
    Editor No
    Number of Pages 336
    Format Paperback / softback