The second edition of this classic text on international economics has been substantially revised and updated to take account of the considerable activity in this field over the last two decades. Three new chapters discuss trade policy and the environment, strategic trade policy, and trade policy and the exchange rate. Corden also analyzes in detail the many arguments for protection.
Editorial Reviews
Review
`There is a clear-cut difference between policy advocacy by ‘economic intellectualism’ and ‘bandwagon politics’. This remarkable book written by one of the leading international trade theorists belongs to the previous category.’ D Tripati Roa, KYKLOS`W Max Corden has produced a well-crafted analytical text in international economics that is an extensive revision of the first edition printed in 1974….Corden’s book is far more than a textbook: his arguments take us well beyond the conventional theory of international economics. His analysis of international trade issues is a synthesis of his own past thinking.’ Helen Cabalu Economics Record (Australia) 15/03/1999
From the Back Cover
Trade Policy and Economic Welfare expounds the normative theory of trade policy. It includes discussion of static and dynamic arguments for protection, especially the infant industry argument; effects of trade policy on income distribution, monopoly, X-efficiency, foreign investment, and capital accumulation; protection of advanced-technology industries; and the choice between tariffs and subsidies as methods of protection. The chapters are self-contained to allow the flexible use of the book in teaching courses on international trade and the economics of developing countries. The exposition is rigorous but non-mathematical, with ample use of simple diagrams.
About the Author
W. Max. Corden is at The Johns Hopkins University.
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