Abstract
The traditional theory of international trade, as set forth in Part I, is founded on two hypotheses: (1) perfect competion obtains, and (2) the commodities which are internationally traded are homogeneous. Notwithstanding the criticism of several precursors (treated in the next chapter), it was only in the late 1970s and in the 1980s that the consequences of dropping one or both of these hypotheses were formally examined. The present chapter gives an overview of these new explanations for international trade.
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Gandolfo, G. (2014). An Overview. In: International Trade Theory and Policy. Springer Texts in Business and Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-37314-5_7
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DOI: https://doi.org/10.1007/978-3-642-37314-5_7
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