This new edition of World Trade and Payments retains those features that have made it such a highly respected and successful text. Once again it offers clear coverage of sophisticated models supported by the latest empirical research, all made easily understandable by a wealth of issues and applications. In addition, new theoretical developments have been incorporated to keep the text up-to-date. The balanced coverage of trade and finance features updated material on the multinational enterprise, the political economy of trade controls, the outcome of the Uruguay Round of international tariff negotiations, and the new World Trade Organization. Also, there are entirely new discussions on the Eastern European economies in transition, trade policies, and the development of newly industrialized countries
• Clear, analytical writing that patiently introduces students to economic theory, and then applies the theory to the latest policy issues and empirical research.
• Greater emphasis on microeconomic analysis of macroeconomic topics, such as outsourcing, and the effects of the immigration and emigration on labor.
• Supplementary chapters at the end of the book that offer extensions of the major economic models and theories, allowing professors the option of going into more depth.
• Developing countries discussed regularly throughout the text, rather than in a single isolated chapter, so that they are integrated within the relevant theoretical and policy discussions.
Richard E. Caves
Richard E. Caves is Nathaniel Ropes Research Professor of Political Economy at Harvard University.
Richard Caves primary fields of interest are competition policy and regulation, international competition and multi-national enterprise, economics and the arts.
Recent research topics include turnover of business units in national and international markets, competition within industries to install "sunk" investments, economic organization of "creative" activities.
Ronald W. Jones
Ronald Winthrop "Ron" Jones (born 1931) is an influential international trade economist and Xerox Professor of Economics at the University of Rochester. His recent highly acclaimed book Globalization and the Theory of Input Trade(2000) summarizes much of his past work and also discusses the recent market trend toward fragmentation and outsourcing of the production process.
Professor Jones also is an author of World Trade and Payments (with Richard E. Caves and Jeffrey Frankel), an upper-level college textbook which focuses on international economics.
He earned an A.B. from Swarthmore College in 1952 and a Ph.D. from the Massachusetts Institute of Technology in 1956
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