This volume mainly focuses on the relevance and application of Heckscher-Ohlin Model and Specific Factors Model of trade, while also addressing other latest global issues which are connected with two most celebrated structures of trade models developed by the legendary trade theorist Prof. Ronald Winthrop Jones. The two models were published as 'The Structure of Simple General Equilibrium Models' (1965) and 'A Three Factor Model in Theory, Trade and History' (1971). Both the structures are used extensively by trade economists and development economists to decipher a bunch of interesting and intertwined ideas. The models being easy to follow, are capable of explaining some contemporary global concerns if modified judiciously. This includes both theory and policy in both competitive and imperfectly competitive markets. It also has some empirical dimensions.
This book is a must read for those who want to keep abreast of latest frontiers in the domain of research on internationaltrade theory and policy, especially advanced graduate students, researchers, and policy makers in general. It exposes its readers to methodological techniques and contemporary research issues so that one can easily draw clues, in terms of both relevant techniques and future research directions, to carry on their own research; policy makers can understand the channels of possible welfare improvement owing to new policy changes.