New Tendencies in the International Political Economy of Trade
Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 7, Issue 1
Abstract
In this research work, Author focus on the analysis the new tendencies in the international political economy of trade.. Accordance to the foreign trade policy theory further trade liberalisation and improved framework policies would increase trade and promote growth. It must be emphasized that openess to trade is associated with higher incomes and growth and there are the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests. First of all it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region’s economy. On the other hand some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region’s economy, but are industry specific. The main objective of the research task is to give a comprehensive analysis of the new tendencies in the international political economy of trade like trade theory and policy and in particulary the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, foreign trade policy in different types of authoritarian regimes, protectionistic pressures in different political system, the level of protectionistic pressures, the tendencies to bilateralism in the foreign trade policy. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment.
Authors and Affiliations
Zdzisław W. Puślecki
Keywords
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