By Ronald W. Jones (auth.), Rajat Acharyya, Sugata Marjit (eds.)

This e-book used to be written in honour of Professor Kalyan okay. Sanyal, who was once a good educator and well known pupil within the box of foreign economics. one among his study papers co-authored with Ronald Jones, entitled “The idea of alternate in heart Products” and released in American fiscal Review in 1982, was once a seminal paintings within the box of foreign exchange thought. This paper could pass directly to encourage many next major works by way of researchers around the globe on alternate in intermediate items. the bigger impression of any paper, past the variety of citations, lies by way of the eagerness it sparks between more youthful researchers to pursue new questions. Measured by means of this yardstick, Sanyal’s contribution in exchange conception will surely be considered as historic.
After finishing his Ph.D. on the collage of Rochester he joined the dep. of Economics at Calcutta college within the early Nineteen Eighties and taught exchange concept there for nearly 3 many years. His insights, articulation and brilliance in educating overseas economics have stimulated and formed the highbrow improvement of a lot of his scholars.

After his surprising passing in February 2012, his scholars and co-workers equipped a symposium in his honour on the division of Economics, Jadavpur collage from April 19 to twenty, 2012. This e-book, a small tribute to his mind and contribution, has been a follow-up on that endeavour, and a collective attempt of many of us together with his academics, associates, colleagues and scholars. In a nutshell it discusses intermediation of assorted types with major implications for industry integration via exchange and finance. That exchange can generate many non-trade-service zone hyperlinks has lately emerged as a subject of turning out to be situation and will hint its lineage again to the belief of the center product, a ordinary inspiration in Prof. Sanyal’s work.

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5), Matsuyama (1991), Kemp and Schweinberger (1991), and Ethier and Ruffin (2009) all make the assumption of average-cost pricing. For yet another variation, see Grossman and Rossi-Hansberg (2010). 3 Protectionism and Increasing Returns 35 We argue that under this assumption the case for free trade is actually stronger with increasing returns. With identical cost conditions this is quite intuitive because if both countries produce the good the cost of production must be higher. In our case, with strong comparative cost advantage in one country, it is doubly cheaper to produce the good in the low cost country due to both scale and lower costs.

Competition policy or tariff policy: Which is more effective? Asia-Pacific Journal of Accounting and Economics, 13, 163–170. Part II Trade, Technology and Increasing Returns Chapter 3 Protectionism and Increasing Returns Roy Ruffin and Wilfred J. Ethier We reconsider the economics of protection with an industry subject to increasing returns. On the whole the case for free trade is actually greater than without increasing returns. Exceptionally high tariffs are required to protect a high-cost increasing-returns industry.

5), we have Bd ¼ aaÃ2 ð1 þ dà Þ2 ½að1 þ dÞ þ aà ð1 þ dà ފ2 : ðA:7Þ and Yd ¼ À ðb À hÞð1 þ kÞBd ½ð1 þ kÞB þ gkŠ2 : ðA:8Þ Because Bd [ 0; then Yd \0: This implies that dY ¼ Yd dd [ 0 when dd\0:  à 0 0 We know that q À c ðkYÞ ! 0 from (4), so that q À c ðkYÞ dY ! 6) and show that ðY À XÞdq ! 5) to have dq ¼ ÀBd ðb À hÞgk ½ð1 þ kÞB þ gkŠ2 dd: ðA:9Þ 26 M. Yano et al. This implies that dq [ 0 if k [ 0 and dd\0: If k ¼ 0; dq ¼ 0 because q is fixed at h: Since the home country is an exporting country, Y À X [ 0: Thus we have ðY À XÞdq !

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