The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Vent for Surplus

  • H. Myint
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1663

Abstract

Conventionally, international trade theory focuses attention on the pattern of comparative costs existing at a point of time on the basis of the given resources and technology of the trading countries. Adam Smith, writing before the theory of comparative costs became formalized as a cross-section type of analysis, was concerned with the process of interaction between trade and development over a period of time. Thus his writings provide a more promising starting point for the study of the historical process of export expansion and economic development in the underdeveloped countries (Williams 1929; Myint 1958; and Myint 1977).

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • H. Myint
    • 1
  1. 1.