Fragmentation, Imperfect Competition and Heterogeneous Firms

Sven W. Arndt

Chapter 14 in Evolving Patterns in Global Trade and Finance, 2014, pp 197-203 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The earlier chapters utilize traditional trade theory models of perfect competition, constant costs, homogeneous goods, services and factors of production and an emphasis on trade at the sectoral or industry level. It is, of course, well-known that much of international trade takes place under conditions of imperfect competition, distorted markets and variable returns to scale, as well as heterogeneity of goods, services and factors of production. When these conditions prevail, the so-called new trade theory with its focus on imperfect competition, economies of scale, and product diversification provides a more appropriate analytical approach…

Keywords: Preferential Trade Areas; Fragmentation; Cross-Border Production Networks; Off-Shoring; Currency Areas and Monetary Union; Single vs. Dual-Exchange Rate Regimes; Stabilization Policy in Open Economies; International Monetary Relations (search for similar items in EconPapers)
Date: 2014
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