World Trade and Balance of Payments (9th Edition)

Author: Kefus
Publisher:
Publish Date: 2005-12-01
Features: World Trade and International has been widely praised for its new comprehensive coverage, intuitive organization, and rigorous yet accessible analysis. In addition to these notable features, the ninth edition not only discusses attractive issues such as globalization, immigration, and intellectual property but also provides new reports on the World Trade Organization, Japan's economic stagnation, and the euro. The new chapter on "emerging market crises" briefly explains the financial crises in East Asia and other developing countries in the late 1990s. The discussion on economic interdependence and aggregate supply has been updated and expanded into two chapters: "Economic Interdependence and Coordination" and "Supply and Inflation." In summary, the new edition of World Trade and International offers students the theoretical and practical insights needed for future studies in international trade and finance. The book elaborates on the fundamental theories and applications of world trade, international finance, and open macroeconomics. It not only provides a detailed explanation of the patterns and causes of international trade and its evolution but also offers a brilliant analysis of trade policies—trade protection and trade liberalization. Based on an examination of the causes, methods, and consequences of exchange rate fluctuations and international capital flows, the book discusses the impact of exchange rates on trade, the choice of exchange rate regimes, and the management of open macroeconomies. The newly added Chapter 24 provides a concise theoretical overview of the causes and consequences of financial crises.