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| Author: | Wu, Hanhong |
| Title: | New growth theory and development of international trade theory (original in Chinese) |
| Journal: | Journal of People's University of China (c)
1999 : 4, p.1-6 |
| Index terms: | ECONOMIC GROWTH INTERNATIONAL TRADE ECONOMIES OF SCALE |
| Language: | chn |
| Abstract: | As a new branch of Western economics, new growth theory tries to prove that economic growth is the result of the effect of internal factors in the economic system. Having failed to explain some new trends of modern trade, the traditional theory of international trade has faced with a challenge. The new development of international trade theory emphasizes that economies of scale and externalities should be introduced into trade theory. This, the author believes, will promote the development of trade theory to a certain degree. |
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