"New" Trade Theory and Policy a Decade Old: Assessment in a Pacific Context

J. David Richardson

No 4042, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper characterizes and evaluates what has been called variously the new, new-view, strategic or industrial organization approach to international trade and trade policy. This approach analyzes trade in strategic environments,' those in which small numbers of large, self-consciously independent agents interact, and in which their activities themselves are interdependently (strategically) linked. The new view's perspectives have been controversial but often because they have been misunderstood. Many of its subtler strengths have remained hidden. The misunderstandings and subtler strengths of the approach are the main themes of the paper. Its secondary emphasis is on applied and empirical work in the new tradition and its policy implications, with special regard to Pacific trade and investment.

Date: 1992-04
Note: ITI
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Published as Higgott, R., R. Leaver, and J. Ravenhill (eds.) Pacific Economic Relations in the 1990s: Cooperation or Conflict? Lynne Rinner Publishers, 1993.

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