International Trade Theory

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Presentation transcript:

International Trade Theory

Mercantilism

Mercantilism Pillage the lands - do whatever it takes to increase your trade surplus.

Mercantilism Used high import barriers and export subsidies.

Mercantilism Increased national wealth but decreased consumer satisfaction

Mercantilism Neomercantilism the more recent strategy of countries that use protectionist trade policies in an attempt to run favourable balances of trade and/or accomplish particular social or political objectives

Adam Smith 1776

Absolute Advantage

Comparative Advantage

Competitive Advantage

Competitive Advantage Four Determinants Factor Endowments

Competitive Advantage Four Determinants Demand Conditions

Competitive Advantage Four Determinants Related and Supporting Industries

Competitive Advantage Four Determinants Firm Strategy, Structure and Rivalry

Global Strategic Rivalry Theory Firms struggle to gain sustainable competitive advantage through:

Global Strategic Rivalry Theory Gain Competitive Advantage Through: Owning intellectual property rights

Global Strategic Rivalry Theory Investing in research and development

Global Strategic Rivalry Theory Achieving economies of scale or scope

Global Strategic Rivalry Theory Exploiting the experience curve

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