2021
DOI: 10.2139/ssrn.3763875
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A Critique of Modern Theories of Trade

Abstract: This article recapitulates some of the trade theories reputed to be of the twentieth century. Here, the Heckscher-Ohlin theory (with some of its variants), endogenous growth theory, product cycle theory, and new trade theory were considered. This review thereof, amidst others, highlight some of the assumptions of these theories and thus present some critique of the same theories.

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Cited by 2 publications
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“…These are some of the essential postulates of the new trade theory, which emphasises technological progress (Uddin 2021). Undoubtedly, these empirical discoveries represent the possibility of a new approach to competition between firms and the market structure.…”
Section: Introductionmentioning
confidence: 97%
“…These are some of the essential postulates of the new trade theory, which emphasises technological progress (Uddin 2021). Undoubtedly, these empirical discoveries represent the possibility of a new approach to competition between firms and the market structure.…”
Section: Introductionmentioning
confidence: 97%