Record Details

International trade policies: An evolutionary perspective

Journal of Economics Library

View Archive Info
 
 
Field Value
 
Title International trade policies: An evolutionary perspective
 
Creator MAKHLOUF, Hany H.; School of Business and Public Administration University of the District of Columbia Washington, D.C. 20008 (301) 530-8551
 
Subject Free trade; Mercantilism; Protectionism; Balance of trade; Tariffs; WTO; Trade war.
F10; F11; F13.
 
Description Abctract. Cross-border trade has had a long history. It has enriched the lives of trading partners since the rise of ancient civilizations although it was the cause of some conflicts and even wars among trading partners; and between empires, colonies, and nation-states. It has increased cooperation due to harmony of interest between buyers and sellers, but occasionally has intensified rivalry, power-playing, destructive hegemonic impulses and cut- throat competition among neighbors. However, the fact that it has grown steadily through the centuries indicates that its impact on trading partners, near or distant, has been more positive than negative. One indicator of its growth, particularly in recent centuries and decades, is its size as a percentage of total world output. For example, exports, which constituted less than 5% of world GDP until the 1870s, grew to over 17% of world GDP by 1998, according to the World Bank, OECD, and WTO. This paper explores the rise of trade and changes in trade policies from the time of ancient civilizations to the present. It also examines some old and some recent trade disputes/wars. It adds to the literature by providing an overview of the foreign trade environment as well as trade patterns from different perspectives, particularly the perspectives of high versus low wage countries, the North versus the South.Keywords. Free trade, Mercantilism, Protectionism, Balance of trade, Tariffs, WTO, Trade war.JEL. F10, F11, F13.
 
Publisher Journal of Economics Library
 
Contributor —
 
Date 2019-03-23
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEL/article/view/1842
10.1453/jel.v6i1.1842
 
Source Journal of Economics Library; Vol 6, No 1 (2019): March; 1-10
2149-2379
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEL/article/view/1842/1840
 
Rights Copyright (c) 2019 Journal of Economics Library
http://creativecommons.org/licenses/by-nc/4.0