Title :
Theoretical Analysis on the Determinate Factors of Terms of Trade
Author :
Yun-qi, WANG ; Zhi-hong, TIAN
Author_Institution :
China Agric. Univ., Harbin
Abstract :
As an important indicator measuring gains from trade, a country´s terms of trade (TOT) and its variation have significant welfare implications. Literature review finds that most studies on TOT are of empirical nature while theoretical analysis especially systematic ones on TOT´s determinate factors are not commonly found. Different scholars have made efforts to expand neoclassical models of TOT from different perspectives, but the choices of neoclassical premises given up have been made according to their specific academic interests while other premises are held constant. Expanded theoretical models thus derived are in no sense of general equilibrium nature. Started with the illustration of neoclassical model, the paper gives up neoclassical premises systematically and takes three steps to further theoretical analysis and expand TOT models accordingly.
Keywords :
trade agreements; neoclassical models; neoclassical premises; terms of trade; Agricultural engineering; Agriculture; Conference management; Degradation; Economic indicators; Engineering management; Environmental economics; Gain measurement; Regression analysis; Supply and demand; determinate factors; expanded models; terms of trade; theoretical analysis;
Conference_Titel :
Management Science and Engineering, 2007. ICMSE 2007. International Conference on
Conference_Location :
Harbin
Print_ISBN :
978-7-88358-080-5
Electronic_ISBN :
978-7-88358-080-5
DOI :
10.1109/ICMSE.2007.4422031