International Economics

This book is a rigorous and accessible introduction to international economics. It stresses the role of economic theory in explaining international trade and finance. Additional material in the fourth edition includes: trade and imperfect competition; world trade patterns; non-tariff protection; trade and development; strategic trade policy; 1992; the political economy of protection; exchange rate determination; the US balance of payments deficit and the debt crisis.

Preface to the First Edition	p. xvii
Preface to the Revised Edition	p. xix
Preface to the Fourth Edition	p. xxi
Acknowledgements	p. xxii
Introduction- Why, What and How	p. 1
Note	p. 10
	p. 11
Comparative Costs and International Trade	p. 13
International Trade and Factor Endowments: (A) the Heckscher-Ohlin Theory	p. 28
International Trade and Factor Endowments: (B) Specific Factors and Empirical Tests	p. 43
Modern Trade Theory	p. 53
Trade Theory: an Overview	p. 70
International Trade and Welfare	p. 81
Note	p. 89
Methods of Protection: (A) Tariffs	p. 90
Methods of Protection: (B) Non-Tariff Barriers	p. 106
Notes	p. 122
Static Arguments for Protection	p. 123
Dynamic and Strategic Arguments for Protection	p. 140
Notes	p. 159
The Political Economy of Protection	p. 160
Customs Unions	p. 176
The European Communities	p. 185
International Trade and Economic Growth	p. 201
Capital Movements and the Multinationals	p. 217
	p. 235
The Balance of Payments	p. 237
National Income and the Trade Balance	p. 254
Prices, Competitiveness and the Current Account	p. 269
Macro-Economics and the Current Account	p. 289
Money and the Balance of Payments	p. 304
The Foreign Exchange Rate	p. 312
Assets and Exchange Rates	p. 328
Notes	p. 342
Macro-Economic Policy in the Open Economy	p. 343
Two Case-Studies: Oil and the Dollar	p. 360
Exchange Rate Regimes and Optimum Currency Areas	p. 374
	p. 395
The Demand for International Reserves	p. 397
The Supply of International Money	p. 410
The Euro-Currency Markets	p. 434
Developing Countries and the International Monetary System	p. 448
Bibliography	p. 475
Author Index	p. 498
Subject Index	p. 503
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International Economics

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