journal article Show World Politics Vol. 28, No. 3 (Apr., 1976) , pp. 317-347 (31 pages) Published By: The Johns Hopkins University Press https://doi.org/10.2307/2009974 https://www.jstor.org/stable/2009974 Read and download Log in through your school or library Read Online (Free) relies on page scans, which are not currently available to screen readers. To access this article, please contact JSTOR User Support. We'll provide a PDF copy for your screen reader.With a personal account, you can read up to 100 articles each month for free. Get StartedAlready have an account? Log in Monthly Plan
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Abstract The structure of international trade, identified by the degree of openness for the movement of goods, can best be explained by a state-power theory of international political economy. This theory begins with the assumption that the nature of international economic movements is determined by states acting to maximize national goals. Four goals--aggregate national income, political power, social stability, and economic growth--can be systematically related to the degree of openness in the international trading system for states of different relative sizes and levels of development. This analysis leads to the conclusion that openness is most likely to exist when there is a hegemonic distribution of potential economic power. Time-series data on tariff levels, trade proportions, regional concentration, per capita income, national income, share of world trade, and share of world investment are then presented. The first three are used to describe the degree of openness in the trading system; the last four, the distribution of state power. The data suggest that the state-power theory should be amended to take into consideration domestic political constraints on state action. Journal Information World Politics, founded in 1948, is an internationally renowned quarterly journal of political science published in both print and online versions. Open to contributions by scholars, World Politics invites submission of research articles that make theoretical and empirical contributions to the literature, and review articles bearing on problems in international relations and comparative politics. Publisher Information One of the largest publishers in the United States, the Johns Hopkins University Press combines traditional books and journals publishing units with cutting-edge service divisions that sustain diversity and independence among nonprofit, scholarly publishers, societies, and associations. Journals The Press is home to the largest journal publication program of any U.S.-based university press. The Journals Division publishes 85 journals in the arts and humanities, technology and medicine, higher education, history, political science, and library science. The division also manages membership services for more than 50 scholarly and professional associations and societies. Books With critically acclaimed titles in history, science, higher education, consumer health, humanities, classics, and public health, the Books Division publishes 150 new books each year and maintains a backlist in excess of 3,000 titles. With warehouses on three continents, worldwide sales representation, and a robust digital publishing program, the Books Division connects Hopkins authors to scholars, experts, and educational and research institutions around the world. Project MUSE® Project MUSE is a leading provider of digital humanities and social sciences content, providing access to journal and book content from nearly 300 publishers. MUSE delivers outstanding results to the scholarly community by maximizing revenues for publishers, providing value to libraries, and enabling access for scholars worldwide. Hopkins Fulfillment Services (HFS) HFS provides print and digital distribution for a distinguished list of university presses and nonprofit institutions. HFS clients enjoy state-of-the-art warehousing, real-time access to critical business data, accounts receivable management and collection, and unparalleled customer service. Rights & Usage This item is part of a JSTOR Collection. Which is the first theory of international trade?Developed in the sixteenth century, mercantilism. was one of the earliest efforts to develop an economic theory. This theory stated that a country's wealth was determined by the amount of its gold and silver holdings.
When was the first international trade?International trade has a rich history starting with barter system being replaced by Mercantilism in the 16th and 17th Centuries. The 18th Century saw the shift towards liberalism.
What are the 4 theories of international trade?There are 6 economic theories under International Trade Law which are classified in four: (I) Mercantilist Theory of trade (II) Classical Theory of trade (III) Modern Theory of trade (IV) New Theories of trade. Both of these categories, classical and modern, consist of several international theories.
Which of the following is a classical theory of international trade?The classical theory of trade is based on the labour cost theory of value. This theory states that goods are exchanged against one another according to the relative amounts of labour embodied in them. Goods which have equal prices embody equal amounts of labour.
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Which of the following was the first international trade theory to account for changes in the pattern?
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