Trade theories

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Trade theories

  1. 1. 1960 1970 1980 1990 2000 1914-1918 1939-1945 WW1 WW2 Industrial revolution Mercantilism Absolute advantage Comparative advantage New Trade Theory National competitive advantage Get a copy of this slide at: www.smartstudentsok.com Product life cycle
  2. 2. Summary of theories Nokia <ul><li>Porter’s Diamond </li></ul><ul><li>Factor endowments </li></ul><ul><li>Demand conditions </li></ul><ul><li>Related & supporting industries </li></ul><ul><li>Firm strategy, structure & rivalry </li></ul>National competitive advantage Paul Krugman Microsoft Raymond Vernon Xerox copier Heckscher-Ohlin Export from China David Ricardo Cocoa & rice Adam Smith Cocoa & rice Trade surplus Economies of scale First mover advantage Stages of country development Factor endowments Productivity Specialization Zero-sum New trade theory Product life cycle Comparative advantage Absolute advantage Mercantilsm

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