International trade theories - An overview from Mercantilism to Porter’s Diamond
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date published 13/05/2008
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SummaryInternational trade among nations is an old practice that can be traced back to early Assyrian, Babylonian, Egyptian, and Phoenician civilizations. These and other ancient civilizations acknowledged that trade can be tied directly to a superior quality of life for the citizens of all the partners. Today, the practice of trade among nations is growing by extraordinary rapidity, letting hardly a person on earth unaffected in some way by the growing trade among nations.The exchange of goods and services across international borders is a significant share of GDP. In today’s competitive market environment, globalization, industrialization, mergers and acquisitions and outsourcing are major reasons for the increasing international trade.
Table of Contents
- Abstract.
- Mercantilism (1600).
- Theory of Absolute Advantage (Smith,1776 )
- Theory of Comparative Advantage (Ricardo, 1817).
- Heckscher – Ohlin Theory (Heckscher – Ohlin, 1933).
- Product Life-Cycle Theory (Vernon, 1966).
- New Trade Theory (1970).
- Factor endowments.
- Related / supporting industries.
- Firm strategy, structure and rivalry.
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