文档介绍：TradeTrade andand thethe BalanceBalance ofof
PaymentsPayments
II.. SignificanceSignificance ofof TradeTrade
. WhyWhy Trade?Trade?
. TheThe ChangingChanging TradingTrading SystemSystem
. BrettonBretton Woods,Woods, GATTGATT andand thethe WTOWTO
. RegionalRegional TradingTrading BlocsBlocs (EU,(EU, NAFTA)NAFTA)
. TheThe FutureFuture ofof TradeTrade
. BalanceBalance ofof PaymentsPayments
. ponents andand ImbalancesImbalances
. RelevanceRelevance
GrowthGrowth inin WorldWorld TradeTrade
World GDP and World Trade Volume, 1950 - 2001
2500
2000
1500
1000
Index: 1950 = 100 1950 = Index:
500
0
1950 1960 1970 1980 1990 2000
World GDP, Constant Terms World Trade Volume
SignificanceSignificance ofof TradeTrade acrossacross CountriesCountries
Trade in Goods (% of GDP)
1990 2001
US
Japan
France
Canada
Germany
United Kingdom
Netherlands
South Korea
Poland
Mexico
India
Nigeria
WORLD
Source: World Bank, 2003 Development Indicators
ProductivityProductivity andand FactorsFactors ofof
ProductionProduction
PRODUCTIVITYPRODUCTIVITY
Literally:Literally: RatioRatio ofof inputsinputs toto outputsoutputs
Generally:Generally: HowHow muchmuch ofof somethingsomething youyou cancan
produceproduce withwith aa givengiven amountamount ofof resourcesresources
BasicBasic inputsinputs oror FACTORSFACTORS OFOF
PRODUCTIONPRODUCTION
LandLand
LaborLabor
CapitalCapital [Machinery[Machinery andand Materials]Materials]
AbsoluteAbsolute . parative
AdvantageAdvantage
AbsoluteAbsolute Advantage:Advantage: HHavingaving higherhigher
productivityproductivity inin thethe productionproduction ofof aa
productproduct thanthan anyany otherother .
parative Advantage:Advantage: TheThe abilityability ofof
oneone economiceconomic actor