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This volume examines important topical issues in normative trade theory and welfare economics. In particular, it seeks to investigate how far the potential gainfulness of international trade can be extended in an increasingly globalized world. The first section focuses on the gains from trade in the presence of time-consuming consumption and external increasing returns to scale, which are often neglected in traditional trade theory. The next section considers a range of issues that have practical and policy relevance, including trade liberalization, tax reform, tourism, and international migration. The last section examines the impact of income transfers, both from domestic and international perspectives, and of economic policy making. All chapters of the book are contributed by internationally well-known researchers, including Murray Kemp, Henry Wan, Ngo Van Long and some of Murray Kemp's many colleagues and former students around the world. This book, with its up-to-date information and analysis, will be essential to academics and graduate students in the field of international economics. Trade theorists in research institutions and practicing economists in governmental departments will also find this book of great interest. .

Trade. --- Business. --- Commerce. --- Welfare economics. --- International economics. --- Regional economics. --- Spatial economics. --- Economics. --- Regional/Spatial Science. --- Social Choice/Welfare Economics/Public Choice. --- International Economics. --- Spatial economics --- Economics --- Regional economics --- Regional planning --- Regionalism --- Space in economics --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions --- Social policy --- Trade --- Business --- Transportation --- Management --- Commerce --- Industrial management --- Consumption (Economics) --- Consumer demand --- Consumer spending --- Consumerism --- Spending, Consumer --- Demand (Economic theory) --- Social Choice/Welfare Economics/Public Choice/Political Economy. --- Traffic (Commerce) --- Merchants

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This edited volume is a collection of latest research findings on topical issues in international trade theory and policy. The chapters are contributed by well known academic economists around the globe as a tribute to Professor Murray Kemp's 80th birthday. They cover three broad areas of globalization and emerging issues in international trade. The first part of the volume, containing five chapters, deals with trade liberalization and outsourcing. These chapters examine the role of the WTO, trade liberalization as a game under uncertainty, a Chamberlinian-Ricardian model, liberalization of government procurements, and outsourcing and import restriction policies. The second part of the volume, also containing five chapters, examines trading clubs and preferential trading agreements. These chapters extend the original Kemp-Wan proposition concerning customs unions in various directions.The final part of this book consists of six chapters on various aspects of trade and aid. These include a review of Kemp's contributions to trade and welfare economics, gains from trade and refusal to trade, increasing returns and oligopoly, tariff policy and foreign economic aid, infrastructure aid and deindustrialization, and environmental regulation and tourism.

International trade --- Commercial policy --- Globalization --- International economic relations --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Commerce --- Non-traded goods --- Mathematical models --- Economic aspects --- E-books --- Business & Economics --- International trade. --- Globalization. --- International economic relations. --- International --- Economics. --- Economics --- Theory. --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions