World Trade and Balance of Payments (9th Edition)

Author: C. K. Cheever (USA), Frankel (USA) et al.
Publisher:
Publish Date: 2005-12-01
Features: This book's features include: Comprehensive integration of new data and news reports, including new developments in the World Trade Organization and globalization. A new Chapter 24 has been added on "Emerging Market Crises." Major revisions have been made to the discussion of economic interdependence in previous editions, forming a new Chapter 25, "Economic Interdependence and Coordination." The new Chapter 26, "Supply and Inflation," not only includes new data on inflation and the corner solution hypothesis but also discusses aggregate supply. World Trade and International Finance has been widely praised for its new comprehensive coverage, intuitive organization, and rigorous yet accessible analysis. In addition to these significant features, the ninth edition not only discusses globalization, immigration, and attractive issues such as 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 of 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 World Trade and International Finance provides students with the theoretical and practical benefits needed for future studies in international trade and finance. This book elaborates on the basic 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 analysis of the causes, methods, and consequences of exchange rate fluctuations and international capital flows, it 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 explanation of the causes and consequences of financial crises.