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Theoretical Framework of International Finance

Theoretical Framework of International Finance

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Published by Pankaj Dogra

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Published by: Pankaj Dogra on Aug 11, 2010
Copyright:Attribution Non-commercial

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10/25/2012

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Theoretical Framework of International Finance
³International trade is treated as a differentsubject because of tradition, because of urgent and important problems presented byinternational economic questions in the realworld, because it follows different laws fromdomestic trade and because it studies ,illuminates and enriches our understanding of economics as a whole.´-KINDLEBERGER
 
R
easons for the increasing importanceof International Finance
T
here are broadly six aspects of world economywhich have provided importance to internationalfinance, viz.
1)
Specialization of nation and trade
2)
Opening of economies
3)
Globalization of firms
4)
Emergence of new forms of businessorganizations
5)
Growth of world trade
6)
Need of development process of nations.
 
1).
Specializations of nation and trade
a)
Mercantilist¶s view
b)
 Absolute advantage theory
c)
Comparative advantage theory
d)
Hecksher-ohlin-samuelson model/Factor endowment
e)
Newer explanations of comparativeadvantages
f)
Strategic trade theories.

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