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An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. If a quota is put on a good, less of it is imported.  Quotas, like other trade restrictions, are used to benefit the producers of a good in a domestic economy at the expense of all consumers of the good in that economy. Goals The primary goal of import quotas is to reduce imports and increase domestic production of a good, service, or activity, thus "protect" domestic production by restricting foreign competition. Import quota
International Trade in Agricultural Products: A Research Guide For more information see: United Nations Documentation: Research Guide, accessible at: http://www.un.org/Depts/dhl/resguide/ Jeanne Rehberg, United Nations: Lawmaking Activities and Documentation, in ACCIDENTAL TOURIST ON THE NEW FRONTIER: AN INTRODUCTORY GUIDE TO GLOBAL LEGAL RESEARCH 157-165 (Jeanne Rehberg and Radu D. Popa, eds., Littleton, CO: Rothman, 1998) 2.
The classical theory of comparative advantage has driven US trade policy for the past fifty years. That policy, in combination with technical innovations that have lowered costs of transportation and communication, has opened the global economy. Yet paradoxically, this opening has rendered classical trade theory obsolete. That in turn has left the US economically vulnerable because its trade policy remains stuck in the past and based on ideas that no longer hold. Thomas Palley » Blog Archive » Jack Welchâ€™s Barge: The New Economics of Trade
International Economics Questions? TA: Deung-Yong Heo, firstname.lastname@example.org Office: 170A Heady Office Hours: 11:00 am -12:30 pm, TW (Questions on homework, exam, etc.) or contact email@example.com Room: Atanasoff B029
Heckscher-Ohlin Theorem The original HO Theorem, however, was expressed in terms of relative abundance. An economy's offer curve depends on both production and consumption conditions in that country. In the Ricardian trade model, it is easy to derive offer curves because each country specializes in the production of one commodity. This means that as the price of good changes production remains unchanged.
Heckscher–Ohlin model The Heckscher–Ohlin model (H–O model) is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the factor endowments of a trading region. The model essentially says that countries will export products that use their abundant and cheap factor(s) of production and import products that use the countries' scarce factor(s).
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