International Trade and Economic Growth (Collected Works of Harry Johnson): Studies in Pure Theory

This volume combines research on comparative cost theory, trade and growth, and balance of payments theory from the mid-1950s, using mathematical logical analysis to address economic policy issues.

Format: Paperback / softback
Length: 208 pages
Publication date: 30 September 2021
Publisher: Taylor & Francis Ltd

The studies compiled within this volume represent the outcomes of extensive research endeavors conducted in the mid-1950s, delving into diverse theoretical issues within international economics. These studies can be categorized into three distinct groups: comparative cost theory, trade and growth, and balance of payments theory. This comprehensive volume serves as a consolidation of the previous theoretical frameworks, employing a mathematically-driven logical analysis to address complex economic policy-related problems.

The first group, comparative cost theory, examines the factors influencing the location and allocation of economic activities across different countries. It explores the principles governing the determination of relative prices and the factors that influence the flow of goods and services across international borders. By analyzing the comparative costs of production, trade, and investment, comparative cost theory seeks to identify the economic forces that drive economic integration and interdependence.

The second group, trade and growth, focuses on the relationship between trade and economic growth. It examines the factors that determine the level and composition of trade, as well as the impact of trade on economic development and prosperity. Trade and growth theory explores the mechanisms through which trade promotes technological innovation, productivity growth, and economic specialization, ultimately leading to increased economic output and improved living standards.

The third group, balance of payments theory, examines the dynamics of international trade and the factors that determine the balance of payments. It focuses on the balance of payments accounts, which record all economic transactions between a country and the rest of the world. Balance of payments theory explores the factors that influence the balance of payments, such as foreign exchange rates, international interest rates, and trade imbalances. It also examines the policies and strategies employed by countries to manage their balance of payments and maintain economic stability.

Through the application of rigorous mathematical analysis and logical reasoning, this volume seeks to contribute to the advancement of international economics. It provides a comprehensive framework for understanding the complex dynamics of global economic interactions and offers insights into the policy considerations that shape economic outcomes. By consolidating the work of previous theorists and integrating mathematical tools, this volume aims to deepen our understanding of the economic forces that drive our world and provide valuable guidance for policymakers and scholars alike.

Dimension: 234 x 156 (mm)
ISBN-13: 9781032051413