Strategic trade policy and mercantilist trade rivalries

Article Abstract:

The strategic elements of international competition have received greater attention as a result of the application of oligopoly models and game theory to commercial policy and international trade. Oligopolistic trade policies can lead to a greater understanding of the commercial policies of European states during the mercantilist period of the 17th century. The literature on strategic trade policy, as well as mercantilist writers, indicated that the government should play a role in capturing rents resulting from imperfect competition by promoting international competition by domestic firms.

Economic aspects, International aspects, History, International trade, Oligopolies, Mercantilism

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The United States in a new global economy? A century's perspective

Article Abstract:

The role of the US in late 20th century world economy is compared with the 19th century scenario to determine the need for changes in government policies. Statistical figures indicate the absence of significant changes in US' trading behavior. Moreover, the identification of exports as the most important factor in economic growth is misleading. Policies adopted by the government has paralyzed the process of creating bridges to the outside world.

Research, Analysis, Economic policy, United States economic conditions, Comparative economics

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The GATT in historical perspective

Article Abstract:

The GATT was transformed into the World Trade Organization (WTO) on Jan. 1, 1995. Postwar economic progress has traditionally been attributed more to the GATT's economic policies than to the establishment and functions of the IMF and the World Bank. However, GATT's success has not been complete, particularly in agricultural trade and trade barriers. The WTO is an attempt to continue and extend the gains of GATT.

World Trade Organization, Commercial treaties, Trade agreements

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