This post provides an in-depth discussion about International Trade: policy implications for economic development, international conflicts, and innovation – International trade theories, both classical and modern. The main international trade theories, both classical and modern are reviewed and critically examined in the context of the trade patterns of a country.

Topic:

International Trade: policy implications for economic development, international conflicts, and innovation.

A)

Conceptual critique:

In this assignment, review and critically examine the main international trade theories, both classical and modern, in the context of the trade patterns of a country of your choosing. In addition, demonstrate that you understand the theoretical basis of each theory and explain the reasoning which leads to the predictions they make. How valid are these theoretical predictions in the light of the data evidence on the trade patterns of your selected country? What are the limitations, if any, of each theory you are evaluating?

B)

Data evidence:

Collect the data on trade flows of your selected country, covering several of the most recent
years and any important historical periods related to trade policy changes in your country. Critically evaluate the
data evidence on the trade composition identifying strategic industries and goods (or services), which contribute
most to the economic development of your country. How did the financial crisis affect the trade flows of your
country? Has the involvement in international trade generated efficiency gains for your country?

C)

Policy analysis:

Investigate the trade policies implemented by your country over the period of time which you
set up for your trade data analysis in part B. Evaluate the impact of the current trade policy on (1) economic
growth, linking back to your analysis of export-led growth (part B), and (2) (a) the distribution of wealth in your
country, (b) its involvement in international conflicts, and (c) the concentration of innovation in your country

This post provides an in-depth discussion about International Trade: policy implications for economic development, international conflicts, and innovation – International trade theories, both classical and modern.

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