REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH  

Journal Title: CES Working Papers - Year 2012, Vol 4, Issue 4

Abstract

This paper shows that the dynamization of the traditional theory of international trade through the study of growth effects on the foreign trade in the framework of neoclassical analysis, alongside the approach with the Keynesian toolkit of the role of foreign trade as a factor of growth, have constituted the main aspects of the new theory of trade and economic growth. The “new theory” basically represents a set of theories and models of the type “growth-led export” or “export-led growth”, which explain the complex role of foreign trade in the dynamic of development, the new segments of international trade, and also provides base for trade strategies for development. Their typology includes: “import-substitution strategy”, “export-promotion strategy”, and more recently “outward oriented strategy”. In the context of regionalization and globalization of competition the author believes most appropriate the states’ option for a “outward - oriented competitive development strategy”.  

Authors and Affiliations

Spiridon Pralea

Keywords

Related Articles

 THE INFLUENCE OF THE REFUGEE CRISIS ON THE EU’S PERSPECTIVE OF EASTERN PARTNERSHIP

 Given paper represents analytical overview unpacking the relationship between the refugee crisis and the EU’s perspective towards the Eastern Partnership countries. It reviews the journey of the creation and develo...

CATHOLIC SOCIAL TEACHING AND THE ORIGINS OF EUROPEAN UNION

Many papal encyclicals were not directly concerned about the appearance of European Union due to many historical, political and social contexts. The fundamental principles developed through several encyclicals from early...

CULTURAL DIVERSITY AND HUMAN RESOURCE MANAGEMENT IN MULTINATIONAL COMPANIES

When the multinational firms employ human resources from different countries they have to submit to the restrictions concerning cultural differences. The paper is an attempt to show how the human resource management admi...

THE EUROPEAN UNION’S BILATERAL APPROACH

The EU is a world economic power and a major trading partner for most countries. All the time, this region has been interested and has acted towards a free and fair trade. The decrease and even the elimination of tariff...

Comparative analysis of countries in the peer-group based on economic potential and components of sustainable development

The authors study levels of sustainable development potential and determine the positions of Ukraine and other countries in the peer-groups [ ], based on individual macroeconomic indicators. The research includes a compa...

Download PDF file
  • EP ID EP135480
  • DOI -
  • Views 106
  • Downloads 0

How To Cite

Spiridon Pralea (2012). REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH  . CES Working Papers, 4(4), 824-836. https://europub.co.uk/articles/-A-135480