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Swan’s Model of Internal and External Stability | Economics

In this article we will discuss about the Swan’s model of internal and external stability of a country. Harry G. Johnson has advocated the policies of expenditure changing and expenditure-switching for adjusting the internal demand and to affect a balance in external account. The impact of such policies on the balance of payments and the […]

Oligopolistic Models of Intra-Industry Trade | Economics

In case of intra-industry trade models, it was assumed that the number of firms in the manufacturing sector in each country was large. There is another group of models in which the number of firms in the manufacturing sector is supposed to be small. Such models are termed as the oligopolistic models. The most significant […]

The Specific Factor Model of Trade | International Economics

In this article we will discuss about the specific factor model of trade. Single Specific Factor Case: The Heckscher-Ohlin factor endowment theory was put into doubt by the Leontief Paradox. Another objection against the validity of the H-O theory was raised by Stephen Magee. An assumption has been taken in the H-O theory that the […]

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