The Theory of Trade in Middle Products

Kalyan K. Sanyal and Ronald Jones

Chapter 13 in International Trade Theory and Competitive Models:Features, Values, and Criticisms, 2018, pp 203-231 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The bulk of international trade consists of the exchange of intermediate products, raw materials, and goods which require further local processing before reaching the final consumer. Furthermore, few items in international commerce are pure raw materials or primary factors which have not received any value-added from other local inputs. If production is viewed as a spectrum of activities whereby local primary resources help produce and transform commodities into the final state required by consumers, these observations suggest that international trade takes place in “middle products”…

Keywords: International Trade Theory; Models; Competitive Markets (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Date: 2018
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Journal Article: The Theory of Trade in Middle Products (1982)
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