国际经济学 课件chap005.pptVIP

CHAPTER 5 ALTERNATIVE THEORIES OF TRADE Intra-industry trade One major set of facts about actual trade that may require theory beyond comparative advantage is the substantial trade among industrialized countries, much of which involves exchanges of very similar products. Intra-industry trade Inter-industry trade ─ a country’s exports and imports are in different product classification categories. Traditional trade theory dealt only with inter-industry trade, but intra-industry trade clearly constitutes an important segment of international trade. Countries that export and import items in the same product classification are engaging in intra-industry trade. Intra-industry trade A country’s trade can be divided into the part that is net trade (or inter-industry trade) and the part that is intra-industry trade. Net trade is the value of the difference between exports and imports for the product. Intra-industry trade Intra-industry trade is the part of total trade that is not net trade ─ the part that is matched exports and imports. Intra-industry trade If all trade is inter-industry, the IIT share is 0. If all trade involves matched exports and imports (X=M) for each industry, the IIT share is 1. If some trade is net trade and some trade is intra-industry trade, the IIT share will have a value between 0 and 1. The size of IIT share indicates the importance of the intra-industry trade. The Significance of Intra-industry Trade About one-fourth of world trade consists of intra-industry trade. Intra-industry trade plays a particularly large role in the trade in manufactured goods among advanced industrial nations, which accounts for most of world trade. Intra-industry trade Intra-industry trade The major explanation for intra-industry trade is product differentiation. Product differentiation refers to products that are seemingly the same good but which are perceived by the consumer to have real or imagined differences. Inter-industry trade intra-industry trade Mai