Advanced International Trade

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The past twenty years have seen a number of new theoretical approaches that are essential to any graduate international trade course, and will be of interest in development economics and other fields. Here, Robert Feenstra steps beyond theory to consider empirical evidence as well. He covers all the basic material including the Ricardian and Hecksher - Ohlin models, extension to many goods and factors, and the role of tariffs, quotas, and other trade policies; recent material including imperfect competition, outsourcing, political economy, multinationals, and endogenous growth; and, new material including the gravity equation and the organization of the firm in international trade. Throughout the book, special emphasis is placed on integrating the theoretical models with empirical evidence, and this is supplemented by theoretical and empirical exercise that appears with each chapter. "Advanced International Trade" is intended to bring readers to the forefront of knowledge in international trade and prepare them to undertake their own research. Both graduate students and faculty will find a wealth of topics that have previously been covered only in journal articles, and are dealt with here in a common and simple notation. In addition to know results, the book includes some particularly important unpublished results by various authors. Two appendixes describe empirical methods applicable to research problems in international trade, methods that draw on: index numbers and discrete choice models. Thoroughly up-to-date and marked by clear, straightforward prose, this book will be used widely and enthusiastically.