Overview

The second edition of this classic text on international economics includes three completely new chapters on the environment and trade policy, strategic trade policy, and the relationship between trade policy and the exchange rate. The first edition introduced a number of ideas into policy circles; the new edition has been shortened and substantially revised to point up the themes that have subsequently become prominent in discussions of free trade and protection. Trade Policy and Economic Welfare expounds the normative theory of trade policy. It includes discussion of static and dynamic arguments for protection; effects of trade policy on income distribution, monopoly, X-efficieny, foreign investment and capital accumulation; protection of advanced-technology industries; the choice between tariffs and subsidies as methods of protection. The chapters are self-contained to allow flexible use of the book in teaching undergraduate courses on international trade and the economics of developing countries.

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9780198775348

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There is a clear-cut difference between policy advocacy by 'economic intellectualism' and 'bandwagon politics'. This remarkable book written by one of the leading international trade theorists belongs to the previous category. D Tripati Roa, KYKLOS W Max Corden has produced a well-crafted analytical text in international economics that is an extensive revision of the first edition printed in 1974...Corden's book is far more than a textbook: his arguments take us well beyond the conventional theory of international economics. His analysis of international trade issues is a synthesis of his own past thinking. Helen Cabalu Economics Record (Australia) 15/03/1999

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