Publication Date: December 22, 2003 | ISBN-10: 0691114102 | ISBN-13: 978-0691114101
Advanced International Trade is the first major graduate textbook in international trade in a generation. Trade is a cornerstone concept in economics, taught in all departments both in the United States and abroad. The past twenty years have seen a number of new theoretical approaches that are essential to any graduate international trade course, and will be of interest in development economics and other fields. Here, Robert Feenstra steps beyond theory to consider empirical evidence as well. He covers all the basic material including the Ricardian and Hecksher-Ohlin models, extension to many goods and factors, and the role of tariffs, quotas, and other trade policies; recent material including imperfect competition, outsourcing, political economy, multinationals, and endogenous growth; and new material including the gravity equation and the organization of the firm in international trade.
Throughout the book, special emphasis is placed on integrating the theoretical models with empirical evidence, and this is supplemented by theoretical and empirical exercises that appear with each chapter. Advanced International Trade is intended to bring readers to the forefront of knowledge in international trade and prepare them to undertake their own research. Both graduate students and faculty will find a wealth of topics that have previously only been covered in journal articles, and are dealt with here in a common and simple notation. In addition to known results, the book includes some particularly important unpublished results by various authors. Two appendices describe empirical methods applicable to research problems in international trade, methods that draw on (i) index numbers and (ii) discrete choice models. Thoroughly up-to-date and marked by clear, straightforward prose, this book will be used widely--and enthusiastically.
"This book is a tremendous contribution. It will quickly become the main textbook in graduate international trade classes, and will be a useful reference for many others interested in the field. It is very up-to-date and is unique in emphasizing empirical testing and results, precisely what most trade economists are doing these days."
From the Inside Flap
"No other book in advanced international trade matches this one in providing a clear, complete, up-to-date, balanced, and systematic summary of international trade theory and evidence. Its impact on the graduate education and scholarly research of international trade will be felt for years to come."--Bin Xu, University of Florida
"In fifteen years of teaching this material I have never used a textbook. Thanks to Robert Feenstra, my students are about to experience a dramatic change for the better. When I have a question about international trade I immediately turn to Rob Feenstra for answers and insights. He is the most distinguished empirical researcher in the field today. Not surprisingly, this book reflects both his awesome scholarship and his ability to communicate ideas simply."--Daniel Trefler, University of Toronto
"This book is a tremendous contribution. It will quickly become 'the' main textbook in graduate international trade classes, and will be a useful reference for many others interested in the field. It is very up-to-date and is unique in emphasizing empirical testing and results, precisely what most trade economists are doing these days."--Douglas Irwin, Dartmouth College, author of Free Trade Under Fire
"Feenstra covers his topics fabulously. I hope--for the sake of our field--that this book will help to complete a revolution already underway in turning the study of international trade from speculation into a science."--Donald Davis, Columbia University
Most Helpful Customer Reviews
34 of 35 people found the following review helpful
By A Customer
In my opinion this is the best book currently available for a graduate course in real-trade theory. I have already used it twice in class and my students have invariably preferred it to other recent works available, e.g., K.Y. Wong or Bhagwati et al. Compared to these, this book is better written and focuses judiciously on the models that yield the sharpest conclusions and most relevant insights. Discussions of the significance of gravity models, foreign investments, political economy, free trade areas, and institutional factors in trade (e.g., ethnic networks) are particularly clear and up to date compared with other texts.
The required mathematical apparatus (e.g., envelope and duality results) is introduced naturally, intuitively, and only as and when it is needed. The English flows easily, and the interweaving of theoretical and empirical material is especially novel and welcome.
This book should set the standard for writing graduate texts.
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2 of 3 people found the following review helpful
Up to date and very clear presentation of the mainstream theory of international trade.
Its main strength is in the union of theoretical and empirical issues, all treated really carefully.
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7 of 24 people found the following review helpful
I really expected far more from this textbook. It adds very little to already existing graduate textbooks on trade. It is not useful for graduate students that want to understand the literature of the 2000s. It assumes you already know the material. It debotes a lot of space to the old literature at the expense of the new one. This is a field that has changed significantly. Frankly, I find hard to see its value added.
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