Munich Personal RePEc Archive

A critique of modern theories of trade

Uddin, Godwin (2021): A critique of modern theories of trade.

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Abstract

This article recapitulates some of the trade theories reputed to be of the twentieth century. Here, the Heckscher-Ohlin theory (with some of its variants), endogenous growth theory, product cycle theory, and new trade theory were considered. This review thereof, amidst others, highlight some of the assumptions of these theories and thus present some critique of the same theories.

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