INTERNATIONAL TRADE AND COMPETITION IN INTEGRATED MARKETS The traditional trade theory argues that if countries export the products they have comparative advantage in production of, both of the countries gain from trade since their welfare increase through the trade. The theory basically based on the assumptions of perfectly competitive markets. However, the number of analyses have been shown that most of the countries trade similar products and a large part of markets have features of imperfect competition. The new trade theory argues that the strategic policies implemented in imperfectly...
INTERNATIONAL TRADE AND COMPETITION IN INTEGRATED MARKETS The traditional trade theory argues that if countries export the products they have comparat...
