Current Trends in Foreign Trade Theory and Policy

What is it about?

In this research work, Author focus on the analysis current trends in foreign trade theory and policy. Accordance to the foreign trade policy theory further trade liberalization and improved framework policies would increase trade and promote growth. It must be emphasized that openness to trade is associated with higher incomes and growth and there are the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business.

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Photo by Sean Pollock on Unsplash

Photo by Sean Pollock on Unsplash

Why is it important?

What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests. First of all it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region’s economy. On the other hand some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region’s economy, but are industry specific.

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