国际贸易ch6.ppt

1、2020/8/21,华中科技大学经济学院 刘海云,1,Chapter 6 New International Trade Theory,6.1 H-O Model and New Trade Theory 6.2 Economies of Scale and International Trade 6.3 Imperfect competition and International trade 6.4 Trade Based on Dynamic Technology Differences,2020/8/21,华中科技大学经济学院 刘海云,2,6.1 H-O Model and New T

2、rade Theories,Relaxing assumptions of H-O model and NTT. 1. There are two nations (Nation 1 and Nation 2), two commodities (commodity X and commodity Y), and two factors of production (labor and capital). 2. Both nations use the same technology in production. Technology gap and product cycle model,2

3、020/8/21,华中科技大学经济学院 刘海云,3,6.1 H-O Model and New Trade Theories,3. Commodity X is labor intensive and commodity Y is capital intensive in both nations. no factor-intensity reversal 4. Both commodities are produced under constant returns to scale in both nations.Economies of scale and international tr

4、ade 5. There is incomplete specialization in production in both nations.,2020/8/21,华中科技大学经济学院 刘海云,4,6.1 H-O Model and New Trade Theories,6. Tastes are equal in both nations. 7. There is perfect competition in both commodities and factor markets in both nations. The theory of intra-industry trade 8.

5、There is perfect factor mobility within each nation but no international factor mobility. Validity,2020/8/21,华中科技大学经济学院 刘海云,5,9. There are no transportation costs, tariffs, or other obstructions to the free flow of international trade. only modify H-O theory 10. All resources are fully employed in b

6、oth nations. 11. International trade between the two nations is balanced,6.1 H-O Model and New Trade Theories,2020/8/21,华中科技大学经济学院 刘海云,6,6.2 Economies of Scale and International Trade,Increasing returns to scale refers to the production situation where output grows proportionately more than the incr

7、ease in inputs or factors of production. That is, if all inputs are doubled, output is more than doubled.,2020/8/21,华中科技大学经济学院 刘海云,7,2020/8/21,华中科技大学经济学院 刘海云,8,6.3 Imperfect Competition and International Trade,6.3.1 Trade Based on Product Differentiation A large portion of the output of modern econo

8、mies involves differentiated rather than homogeneous products. As a result, a great deal of international trade can and does involve the exchange of differentiated products of the same industry or broad product group. That is, a great deal of international trade is intra-industry trade in differenti

9、ated products.,2020/8/21,华中科技大学经济学院 刘海云,9,6.3.1 Trade Based on Product Differentiation,Intra-industry trade arises in order to take advantage of important economies o f scale in production. The importance of intra-industry trade became apparent when tariffs and other obstructions to the flow of trad

10、e among members of the European Union, or Common Market, were removed in 1958.,2020/8/21,华中科技大学经济学院 刘海云,10,6.3.1 Trade Based on Product Differentiation,Several other Interesting Considerations First, while trade based on comparative advantage is likely to be larger when the difference in factor endo

11、wments among nations greater, intra-industry trade is likely to be larger among economies of similar size and factor proportions (i.e., among industrial nations.),2020/8/21,华中科技大学经济学院 刘海云,11,6.3.1 Trade Based on Product Differentiation,Second, with differentiated products produced under economies of

12、 scale, pretrade relative commodity prices may no longer accurately predict the pattern of trade.,2020/8/21,华中科技大学经济学院 刘海云,12,6.3.1 Trade Based on Product Differentiation,Third, in contrast to the H-O model, which predicts that trade will lower the return of the nations scarce factor, with intra-ind

13、ustry trade based on economies of scale it is possible for all factors to gain.,2020/8/21,华中科技大学经济学院 刘海云,13,6.3.1 Trade Based on Product Differentiation,Finally, intra-industry trade is related to the sharp increase in international trade in parts or components of a product.,2020/8/21,华中科技大学经济学院 刘海云

14、,14,6.3.2 Measuring Intra-Industry Trade,The level of intra-industry trade can be measured by the intra-industry trade index (T): (6-1) Shortcoming in using the index Thow to define the industry?,2020/8/21,华中科技大学经济学院 刘海云,15,6.3.3 Formal Model of Intra-Industry Trade,Production and pricing under mono

15、polistic competition The relationship between inter-industry and intra-industry.,2020/8/21,华中科技大学经济学院 刘海云,16,2020/8/21,华中科技大学经济学院 刘海云,17,6.4 Trade Based on Dynamic Technological Differences,6.4.1 Technological gap model Sketched by Posner in 1961, great deal of the trade among industrialized countri

16、es is based on the introduction of new products and new production processes. These give the innovating firm and nation a temporary monopoly in the world market. Such a temporary monopoly is often based on patents and copyrights, which are granted to stimulate the flow of inventions.,2020/8/21,华中科技大

17、学经济学院 刘海云,18,6.4.2 Product cycle model,Which was fully developed by Vernon in 1966. According to this model, when a new product is introduced, it usually requires highly skilled labor to produce. As the product matures and acquires mass acceptance, it becomes standardized; it can then be produced by

18、 mass production techniques and less skilled labor. Therefore, comparative advantage in the product shifts from the advanced nation that originally introduced it to less advanced nations, where labor is relatively cheaper.,2020/8/21,华中科技大学经济学院 刘海云,19,2020/8/21,华中科技大学经济学院 刘海云,20,6.4.3 Illustration of

19、 the product cycle model,In stage I (time OA), the product is produced and consumed only in the innovating country. In stage II (AB), production is perfected in the innovating country and increases rapidly to accommodate rising demand at home and abroad. In stage III (BC), the product becomes standa

20、rdized and the imitating country starts producing the product for domestic consumption. In stage IV, (CD), the imitating country starts underselling the innovating country in third markets, and in stage V (past point D) in the latters market as well.,2020/8/21,华中科技大学经济学院 刘海云,21,6.5 Transportation Co

21、sts and International Trade,6.5.1 Transportation Costs include all the costs of transferring goods from one location (nation) to another,2020/8/21,华中科技大学经济学院 刘海云,22,2020/8/21,华中科技大学经济学院 刘海云,23,6.5.1 Transportation Costs,The common vertical axis measures the dollar price of commodity X in the two nat

22、ions. A movement to the left from the common origin measures increasing quantities of commodity X for Nation 1. In the absence of trade, Nation 1 will produce and consume 50X at PX=$5. Nation 2 will produce and consume 50X at PX=$11. With transportation costs of $2 per unit, PX=$7 in Nation 1 and PX

23、=$9 in Nation 2. At PX=$7. Nation 1 will produce 70X, consume 30X, and export 40X. At PX=$9, Nation 2 will produce 30X, import 40X, and consume 70X.,2020/8/21,华中科技大学经济学院 刘海云,24,6.5.2 Transportation costs and the Location of Industry,(1) Resource-oriented industries are those that tend to locate near

24、 the source of the raw materials used by the industry. For example, mining must obviously be located where the mineral deposits are located. More generally, resource-oriented industries are those for which the cost of transporting the raw materials used by the industry is substantially higher than for shipping the finished product to market.,2020/8/21,华中科技大学经济学院 刘海云,25,6.5.2 Transportation costs and the Location of Industry,(2) Market-oriented industries, on the other hand, are those that locate near the markets for the products of t