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Explore the complexities of intraindustry trade, differentiated products, and economies of scale in modern trade theory. Understand the implications and processes associated with various trade patterns.
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Globalisering och utvecklingKarlstad Universitet, HT2010F4: Modern handelsteori Per-Åke Andersson 031-786 1353 per-ake.andersson@economics.gu.se
Modern handelsteori • Viktiga nyckelbegrepp är: • Inombranschhandel • Differentierade produkter och olika preferenser • Produktcykelteorin • Stordriftsfördelar • Monopolistisk konkurrens • Outsourcing
The intraindustry trade index is DEFINING INTRAINDUSTRY TRADE Where for a particular industry or product group X = the value of exports M = the value of imports
DEFINING INTRAINDUSTRY TRADE Table 5.1 Intraindustry Trade Examples: Selected U.S. Exports and Imports, 2006 ($ Millions)
INTRAINDUSTRY TRADE IN DIFFERENTIATED PRODUCTS • Most intraindustry trade is in differentiated goods • These goods have features that make them appear different from competing goods in the same market or industry • Goods can be differentiated in two ways • Horizontally differentiated goods differ in some slight way but are similarly priced • Vertically differentiated goods have different physical characteristics and different prices
Price M PM AC MC D MR QM Output INTRAINDUSTRY TRADE IN DIFFERENTIATED PRODUCTS Figure 5.1 Equilibrium with Monopolistic Competition
Average Cost A AC0 B AC1 C AC 0 50,000 200,000 250,000 Number of Cars INTRAINDUSTRY TRADE IN DIFFERENTIATED PRODUCTS Figure 5.2 Economies of Scale as a Basis for Trade
Produktionscykelteorin (Vernon, 1966) ’Alternativ’ till H-O teknologi ej samma i olika länder Betoning på innovationer och nya produkter (tex bilar). För länder med höga inkomster Produktcykelteorin
U.S. 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Imports Exports Production Consumption New Product Maturing Product Standardized Product Stages of Product Development INTRAINDUSTRY TRADE IN DIFFERENTIATED PRODUCTS Figure 5.4 The Product Cycle
Externa Stordriftsfördelar • Externa stordriftsfördelar: Styckkostnaden i individuella företag faller när branschens eller industrisektorns output ökar. Ju fler företag i industrin desto lägre kostnad. Regional koncentration av produktionen. Industrikluster. lägre faktorpriser på specifika produktionsfaktorer • bättre information och kunskap • ökat utbud av specialiserad och utbildad arbetskraft • bättre tillgång till konsultföretag och inputs
Intraindustry Trade Horizontally Differentiated Products Vertically Differentiated Products Homogeneous Products Same Price Identical Products (Wheat, Concrete, Petroleum) Similar Prices Slightly Different Product Characteristics (Gasoline, Chocolate, Perfume) Varying Prices Widely Different Product Characteristics (Automobiles, Watches) Associated Processes Associated Processes Reduction of Transportation Costs Economies of Scale Product Cycle Overlapping Demands Provision of Homogeneous Services (Insurance, Shipping, Finance Associated with International Trade Provision of Uninterrupted Flow of Seasonal Products (Tomatoes) THE WELFARE IMPLICATION OF INTRAINDUSTRY TRADE Figure 5.5 Types of Intraindustry Trade and Associated Processes
Sammanfattning, ”modern” handelsteori • Handel kan uppstå till följd av tilltagande skalavkastning • Stordriftsfördelar kan vara interna eller externa • Förekomsten av stordriftsfördelar leder till att det inte längre råder fullkomlig konkurrens • Handel i närvaro av skalfördelar måste därför analyseras i modeller med monopolistisk konkurrens, snarare än fullkomlig konkurrens är antagande i de ”traditionella” handelsteorierna.
