State Trading and the Theory of International Trade

P. J. Lloyd

Chapter 6 in State Trading in International Markets, 1982, pp 117-141 from Palgrave Macmillan

Abstract: Abstract Direct participation by the state in international trading activities is only one of very many forms of state intervention in the flow of commodities across national borders. All forms of intervention distort the pattern of trade from what it would have been in the absence of intervention. There is a well-developed theory of intervention which quantifies the magnitude of government interventions and predicts their effects on the quantities traded, consumed and produced of commodities. Somewhat surprisingly, in view of its significant share of total global commodity trade,l state trading has not been widely analysed in the terms of international trade theory. The only extensive analyses of state trading, as far as I am aware, are those of Meade (1955) and Humphrey (1959).2 Most of the literature on state trading has been concerned with trade in which either the Soviet Union and other centrally-planned economies or the developing countries provide at least one of the trading partners. This seems to have promoted a tendency to regard state trading as a problem in compara­tive systems, even though state trading is widespread (see Kostecki, 1978, 1979).3

Keywords: Price Discrimination; Price Function; State Trading; Price Rule; Domestic Price (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-05887-7_7

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