Just wondering what everyone felt the best international economics/trade textbook was? Any recommendations? Cheers.
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Best international economics/trade textbook? watch
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- Thread Starter
- 13-04-2011 15:12
- 13-04-2011 16:40
I would say the classic textbook for theory is "International Economics" by Alan Winters (he's Chief Economist at DfID). It is a 1991 book so not the best for reading up on recent developments/discussions, but for a good comprehensive treatment of trade theory it is good.
For trade specifically, "International Trade" by James Markusen (and a few other authors) is a good smaller volume. This just looks at trade, whereas the Winters book covers trade, open economy macroeconomics, some international finance and development
Krugman and Obstfeld have a book on International Economics which is updated regularly so you can get a more up to date text with one of these, than Winters. However (maybe personal preference) I find Winters a bit more thorough.
Debraj Ray's "Development Economics" book has a fair bit on international trade from a development perspective, eg the stuff about import subsitution/export promotion/protectionism and so on.
I think you can use mainly Winters for core theories, Ricardo, Heckscher-Ohlin, specific factors model, stuff to do with trade and growth, strategic trade policy, optimum tariffs and so on. But if you are looking at things to do with regional integration, then you need to be reading more recent articles because the stuff in Winters on things like the EU or other RTAs is out of date.