In this article we will discuss about Classical Theory of International Trade:- 1. Introduction to International Trade 2. Need for a Separate Theory of International Trade 3. Problems 4. Assumptions 5. Summary 6. Critical Evaluation 7. Modifications 8. Theory of Comparative Cost and Underdeveloped Countries. Introduction to International Trade: Internal or inter-regional trade means trade […]
Classical Theory of International Trade: Need, Problems, Assumptions & Summary
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Modern Theory of International Trade: Features, Assumptions & Criticisms
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In this article we will discuss about:- 1. General Features of Modern Theory 2. Assumptions of the Theory 3. Explanation 4. Factor-Price Equalisation Theorem 5. Criticisms 6. Empirical Evidence. General Features of Modern Theory: Heckscher-Ohlin theory is known as modern theory of international trade. It was first formulated by Swedish economist Heckscher in 1919 and […]
Essay on World Trade Organization (WTO) and India
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Essay on World Trade Organization (WTO) and India! It was in 1995 that a World Trade Organization (WTO) could be set up following one of the agreements of the Uruguay round of the multilateral trade negotiations (MTNs) of GATT. India was one of the founding members of the WTO. It started with 128 Member States […]