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International Trade and Economic Development$
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Rajat Acharyya and Saibal Kar

Print publication date: 2014

Print ISBN-13: 9780199672851

Published to Oxford Scholarship Online: September 2014

DOI: 10.1093/acprof:oso/9780199672851.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 30 November 2020

: The Scope and Coverage of Trade and Development

: The Scope and Coverage of Trade and Development

(p.1) Introduction: The Scope and Coverage of Trade and Development
International Trade and Economic Development

Rajat Acharyya

Saibal Kar

Oxford University Press

International trade in goods dates back to the dawn of human civilizations. Trade between the East and the West has strongly influenced the consumption and income patterns that we observe in today’s world. Strange as it might seem in view of the escalating costs—transaction, monetary, and environmental costs—associated with international trade in goods and services in recent times, autarky was not the natural choice for traders in 10,000 BCE. This book, however, is a journey of the well-known implications of trade on various indicators of economic and social development around the world from the Mercantilist period to its modern patterns. In this regard, the chapter discusses the reversal of fortunes between countries, as well as the compelling theories and evidence on trade and economic development, in the following twelve chapters of this book.

Keywords:   international trade, historical artefacts, economic development, fortune reversal, developed countries, developing countries

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