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1、PART ONEInternational trade theory9/17/20241Mercantilism 16c20cHistorical development of Trade TheoriesAbsolute advantage Comparative advantage Factor endowments20cWorld War IIFactor-price equalization Leontief paradoxWorld War IIEconomies of scale and international trade Trade based on product diff
2、erentiation 9/17/20242Whats Intl Trade Theory About?lBasis for Trade: Why do nations voluntarily engage in trade?lPattern of Trade: What commodities are traded and which commodities are exported and imported by each nation? lGains from Trade: How are gains from trade generated? How large are the gai
3、ns and how are they divided among the trading nations?9/17/20243CHAPTER TWOComparative Advantage9/17/20244Chapter StructurelMercantilismlTrade Based on Absolute AdvantagelTrade Based on Comparative AdvantagelProduction Possibility Frontier and Opportunity CostslBasis for and gains from trade under c
4、onstant costs9/17/202451.Mercantilism (16c-18c)lThe central Belief of Mercantilism: National well-being or wealth was based on national holdings of gold and silver.1.The government had to stimulate the nations exports and restrict its imports.2.The way for a nation to become rich and powerful was to
5、 export more than it imported.3.Mercantilism regarded trade as a zero-sum gameone nation could gain only at the expense of some other countries.p319/17/20246Although a Kingdom may be enriched by gifts received, or by purchase taken from some other Nations, yet these are things uncertain and of small
6、 consideration when they happen. The ordinary means therefore to increase our wealth and treasure is by Foreign Trade, wherein we must ever observe this rule; to sell more to strangers yearly than we consume of theirs in value. -Englands Treasure By Foreign TradeThomas Mun (15711641) 9/17/20247 中国贸易
7、摩擦战火升级中国贸易摩擦战火升级l20092009年年1-111-11月，共有月，共有1919个国家和地区对我国发起个国家和地区对我国发起“两反两保两反两保”贸易救济调查贸易救济调查103103起，其中反倾销起，其中反倾销6767起，反补贴起，反补贴1313起，保障措施起，保障措施1616起，特保起，特保7 7起。此外，我国起。此外，我国还遭遇美国还遭遇美国337337调查调查6 6起。涉案总金额共约起。涉案总金额共约120120亿美元。亿美元。20102010年上半年上半年我年上半年上半年我国遭遇国遭遇3838起贸易救济调查案件，第一季度全球起贸易救济调查案件，第一季度全球47%47%新增调
8、查针对中国。新增调查针对中国。l20102010年年1-81-8月，中国贸易救济案件部分统计月，中国贸易救济案件部分统计 1.1月8日，印度对原产于中国的玻璃纤维发起反倾销调查。2.1月11日，巴西对原产于中国的手动拉钉枪进行反倾销调查。3.1月12日，土耳其对我玻璃纤维产品进行反倾销调查。4.1月21日，美对中国钻管发起双反调查。5.2月17日，欧盟委员会决定对产自中国的三聚氰胺发起反倾销调查。6.2月22日，阿根廷对原产于中国的男用或童用套装、夹克等启动反倾销调查。7.3月16日，多米尼加对自中国进口的陶瓷马桶和洗手盆发起特保调查。8.4月21日，墨西哥决定对原产于中国的牛仔布启动反倾销调
9、查。9.6月30日，埃及对中国产发电机征收反倾销税10.7月27日，乌拉圭对华热水器启动反倾销调查11.7月29日，秘鲁对华棉/涤棉混纺织物进行反倾销日落复审12.8月18日，韩国对华瓷砖启动反倾销日落复审调查 Mercantilism9/17/202482.Trade Based on Absolute AdvantageAdam Smith, 1723-1790Adam Smith was a Scottish moral philosopher and a pioneer of political economics. He entered the University of Glasg
10、ow and studied moral philosophy when he was fourteen. Three years later he entered the University of Oxford. Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is consider
11、ed as the first modern work of economics. 9/17/20249If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it from them with some part of the product of our own industry, employed in a way in which we have some advantage. - The Wealth of Nations, 17769/
12、17/202410What is Absolute Advantage?lWhen one nation is more efficient or has lower cost than another in the production of one commodity, we consider that it has an absolute advantage on this commodity.U.SU.KWheat（bushels/hour）61Cloth（yards/hour）45p329/17/202411Core of Absolute Advantage TheorylTrad
13、e between nations is based on absolute advantage. lBoth nations can gain by each specializing in the production of the commodity of its absolute advantage and exchanging part of its output with the other nation for the commodity of its absolute disadvantage.p319/17/202412lWithout Intl TradelAfter In
14、tl Trade U.SU.KWheat（bushels/hour）61Cloth（yards/hour）45Output change of U.SOutput change of U.KWheatCloth-1+5 -5+6（ Assume 6W=5C6W=5C）?= +5= 0-4+6-6+5= 0= +1An example9/17/202413Range for mutually beneficial trade 4 C 6W 30 CU.SU.KWheat61Cloth45 Without Intl TradelThe closer the rate of exchange is
15、to the domestic rate in U.S, the smaller is the share of the gain going to U.S and the greater is the share of the gain going to U.K. p369/17/202414Core of Absolute Advantage TheorylTrade between nations is based on absolute advantage. lBoth nations can gain by each specializing in the production of
16、 the commodity of its absolute advantage and exchanging part of its output with the other nation for the commodity of its absolute disadvantage.p319/17/202415The benefits of free tradelGlobal production efficiency is enhanced because trade allows each nation to exploit its absolute advantage in prod
17、ucing some commodities. lTrade is a positive-sum activity.9/17/202416Problems of Absolute Advantage TheorylIf a nation has an absolute disadvantage in the production of both commodities, would it want to trade? If so, how?U.SU.KWheat（bushels/hour）61Cloth（yards/hour）429/17/202417Problems of Absolute
18、Advantage TheorylAbsolute advantage can explain only a very small part of world trade today, such as some of the trade between developed and developing countries.9/17/2024183.Trade Based on Comparative AdvantagelRicardo articulated and rigorously formulated the Classical system of political economy.
19、 lRicardo was born in a Jewish family in London and his father was a successful stockbroker. At 14, Ricardos father employed him full-time at the London Stock Exchange, where he quickly acquired a knack for the trade. At 21, Ricardo broke with his family and managed to set up his own business. At 41
20、, he retired from city business, his fortune was estimated at about 600,000 of his time.lRicardo became interested in economics after reading Adam Smiths The Wealth of Nations in 1799. This was Ricardos first contact with economics. He wrote his first economics article at 37 and within another ten y
21、ears he reached the height of his fame. Ricardos most famous work is his Principles of Political Economy and Taxation (1817). David Ricardo,1772-18239/17/202419What is Comparative Advantage?lIf one nation is less efficient than the other nation in the production of both commodities, the commodity in
22、 which its absolute disadvantage is smaller will be considered as the commodity of Comparative Advantage.U.SU.KWheat（bushels/hour）61Cloth（yards/hour）429/17/202420lDenote and as labor efficiency of cloth in U.S and , Denote and as labor efficiency of wheat in U.S and , If , means U.S has a comparativ
23、e advantage in cloth.U.SU.KWheat（bushels/hour）64Cloth（yards/hour）429/17/202422Core of Comparative Advantage TheorylTrade between nations is based on comparative advantage. lEven if one nation is less efficient than the other nation in the production of both commodities, there is still a basis for mu
24、tually beneficial trade. Each nation should specialize in the production of and export the commodity of its comparative advantage and import the commodity of its comparative disadvantage. p339/17/202423lWithout Intl TradelAfter Intl Trade An exampleU.SU.KWheat（bushels/hour）61Cloth（yards/hour）42Outpu
25、t change of U.SOutput change of U.KWheatCloth-1+2 -6+6（ Assume 6W=6C6W=6C）= +5= -4-4+6-6+6= 0= +29/17/202424Range for mutually beneficial trade 4 C 6W 12 CU.SU.KWheat61Cloth42 Without Intl Trade46WCDomestic Rate in U.SDomestic Rate in U.KRange for mutually beneficial trade 4C 6W12CRange for non-exch
26、ange, U.S 6W 4CRange for non-exchange, China12C11 9/17/202441行业或产品美国劳动生产率/英国劳动生产率美国出口/英国出口收音机3.58生铁3.65容器2.44罐头5.23.5纸2.21.5机械2.715迈克道格尔对李嘉图贸易理论的检验结果迈克道格尔对李嘉图贸易理论的检验结果毛衣1.40.004烟卷1.70.5油毡1.90.33针织品1.80.33皮鞋1.40.33可乐1.90.2化纤1.50.2棉制品1.50.11人造丝1.40.09啤酒2.00.06水泥1.10.09男式毛制品1.30.04人造奶油1.20.03Ok！9/17/202442
