Pamela J. Smith is Associate Professor of applied economics at the University of Minnesota and teaches international trade and policy at the graduate and undergraduate levels

Acknowledgments xi
 
List of Tables xv
 
List of Figures xvii
 
Preface xxi
 
Part One Trade Theory as Guidance to Trade Policy 1
 
1 Preliminaries: Trade Theory 3
 
1.1 What Are the Core Questions Asked by International Trade Economists? 3
 
1.2 How Can Trade Theory Provide Guidance to Trade Policy? 4
 
1.3 How Has International Trade Evolved over Time in Practice? 5
 
1.4 How Has Trade Theory Evolved over Time? 6
 
1.5 How Is the Book Organized? 9
 
Further Reading 11
 
2 Inter-industry Trade 13
 
2.1 What Are the Effects of Trade in the Long Run, When Countries Differ in Technologies? 14
 
2.2 What Are the Effects of Trade in the Long Run, When Countries Differ in Endowments? 24
 
2.3 What Are the Effects of Trade in the Short Run, When Countries Differ in Immobile Endowments? 39
 
2.4 Summary Remarks 51
 
Applied Problems 54
 
Further Reading 55
 
3 Intra-Industry and Intra-Firm Trade 57
 
3.1 What Is Intra-Industry Trade and Its Effects? 58
 
3.2 What Is Intra-Firm Trade and Its Effects? 65
 
3.3 Summary Remarks 71
 
Applied Problems 74
 
Further Reading 76
 
Notes 78
 
Part Two Trade Policies and Their Effects 81
 
4 Preliminaries: Trade Policy and Welfare Considerations 83
 
4.1 What Are Traditional Trade Policies? 83
 
4.2 What Approaches Are Used to Examine Trade Policy? 84
 
4.3 What Are the Welfare Effects of Liberalizing Trade Policy? 85
 
4.4 How Is Part Two Organized? 88
 
Further Reading 89
 
Note 90
 
5 Tariffs 91
 
5.1 What Are Tariffs, Their Types and Purpose? 91
 
5.2 What Are the Effects of Tariffs? 92
 
5.3 What Are the Effects of Tariff Liberalization? 107
 
5.4 How Protective Are Tariffs of the Domestic Industry? 109
 
5.5 Summary Remarks 111
 
Applied Problems 115
 
Further Reading 116
 
Notes 117
 
6 Export Subsidies 119
 
6.1 What Are Export Subsidies, Their Types and Purpose? 119
 
6.2 What Are the Effects of Export Subsidies? 120
 
6.3 What Are the Effects of Liberalizing Export Subsidies? 137
 
6.4 Summary Remarks 138
 
Applied Problems 142
 
Further Reading 143
 
Note 143
 
7 Quantitative Restrictions 145
 
7.1 What Are Quantitative Restrictions, Their Types and Purpose? 145
 
7.2 What Are the Effects of Quantitative Restrictions? 147
 
7.3 Summary Remarks 157
 
Applied Problems 160
 
Further Reading 160
 
8 Policy Comparisons 163
 
8.1 What Are Policy Equivalents, and Their Purpose? 163
 
8.2 What Are the Relative Effects of Policy Equivalents? 164
 
8.3 What Are the Relative Effects of Liberalizing Policies? 172
 
8.4 What Are the Effects of Substituting Policies? 174
 
8.5 Summary Remarks 176
 
Applied Problems 180
 
Further Reading 182
 
Note 182
 
Part Three Trade-Related Policies 183
 
9 Preliminaries: Trade-Related Policies and Trade in Services 185
 
9.1 What Are Trade-Related Policies? 185
 
9.2 How Have Trade-Related Policies Evolved over Time in Practice? 186
 
9.3 How Have Trade Policies Toward Services Evolved over Time in Practice? 188
 
9.4 How Is Part Three Organized? 190
 
Further Reading 191
 
Notes 192
 
10 Intellectual Property Rights 193
 
10.1 What Are Intellectual Property Rights, Their Types, and Purpose? 193
 
10.2 What Are the Effects of Intellectual P

Using a unique, question-based format, Global Trade Policy offers accessible coverage of the key questions in trade and policy; it charts the changing policy landscape and evolving institutional arrangements for trade policies, examines trade theory, and provides students with an economic framework to better understand the current issues in national and international trade policy.
* Uses a unique, question-based format to explore the questions and current debates in international trade policy and their implications
* Explores trade theory to help guide discussions of trade policy, including traditional theories of inter-industry trade, as well as newer theories of intra-industry and intra-firm trade
* Examines the national and international effects of widely used policies designed to directly and indirectly affect trade, and considers the evolving institutional arrangements for these
* Charts the changing policy landscape from traditional trade policies - such as tariffs, quantitative restrictions, and export subsidies - to those including intellectual property rights, labor, the environment, and growth and development policies
* Covers national as well as global perspectives and their interaction, helping to explain opposing views on trade policy and liberalization
* Includes applied exercises enabling students to explore open-ended and realistic questions of policy debate, making it ideal for classroom use; an instructor's manual and a range of other resources are available at wiley.com/go/globaltradepolicy