International Trade Theory and Development Policy

Ragnar Nurkse
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Ragnar Nurkse: Columbia University

Chapter Chapter 9 in Economic Development for Latin America, 1961, pp 234-274 from Palgrave Macmillan

Abstract: Abstract The case for international specialization is firmly based on considerations of economic efficiency. The world is not rich enough to be able to despise efficiency. The optimum pattern of specialization is governed by the principle of comparative advantage. This principle remains as valid today as it was in Ricardo’s time. And yet there is some question whether it alone can give all the guidance needed by countries whose dominant and deliberate aim is economic development (that is, increasing real income per capita).

Keywords: International Trade; Comparative Advantage; Foreign Trade; Price Mechanism; Balance Growth (search for similar items in EconPapers)
Date: 1961
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DOI: 10.1007/978-1-349-08449-4_9

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