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Adam Smith on Foreign Trade: The Underlying Theory and Doxography

Advances in Applied Economics and Finance

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Field Value
 
Title Adam Smith on Foreign Trade: The Underlying Theory and Doxography
 
Creator Rai, Naveen; VIT UNIVERSITY, VELLORE
 
Subject Doxography, International Trade, Constant Returns to Scale (CRS)
 
Description Adam Smith (1776) is generally ignored as an international trade theorist in textbooks and surveys because of the common belief that he only confirmed the rule of absolute advantages to explain structure of foreign trade. On the other hand, many textbooks on growth theories simply overlook Smith's significant contributions to economic growth theory. Smith’s insights can still be relevant today and what can be learnt from the mistreatment Smith has suffered in the historiography of international trade theory.Furthermore, in Smith, both learning by doing and economies-of-scale are crucial to explain long-run economic growth. This paper addresses to the undeniable influence of Smith's concepts on the promotion of quality labour that increases the productivity of the nation and causes an increase in the international trade of the nation.
 
Publisher World Science Publisher
 
Contributor —
 
Date 2015-10-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
application/pdf
 
Identifier http://worldsciencepublisher.org/journals/index.php/AAEF/article/view/1610
 
Source Advances in Applied Economics and Finance; Vol 5, No 1 (2015); 751-756
2167-6348
 
Language eng
 
Relation http://worldsciencepublisher.org/journals/index.php/AAEF/article/view/1610/1202
http://worldsciencepublisher.org/journals/index.php/AAEF/article/view/1610/1203
 
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