The Theory of Trade and Protection


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How much does a country's commercial policy affect its economic efficiency? How would free trade change the structure of a country's economy and foreign trade? William Penfield Travis extends the Heckscher-Ohlin trade theory and addresses it to an empirical study of these and related questions. He argues that trade flows fail to reflect relative factor endowments because protection systematically nullifies their effects, and that therefore protection must be incorporated in any positive trade theory. The author begins by ...

The Theory of Trade and Protection 1964, Harvard University Press, Cambridge

ISBN-13: 9780674883055