INTERNATIONAL TRADE THEORY AND POLICY: Selected Essays of W. Max Corden (Economists of the Twentieth Century series)

'This book, by collecting together Corden's considerable contributions to international economics, will provide a valuable addition to bookshelves and libraries and will be a useful source of reference for undergraduate teaching.'- Paul Brenton, The Economic Journal'Max Corden has been the leading light of trade theory and trade policy for the last 20 years. Under his influence the theory has constantly developed, and has addressed the current and latest issues of policy. With Corden theory is closely in touch with policy, and policy is always considered from a strong theoretical perspective. The essays address every aspect of trade theory and trade policy, the determinants of real trade, trade policy and protection, adjustment to shocks and monetary influences. They are the perfect tour of modern international trade ideas, a resource and education in themselves.'- Christopher Bliss, Nuffield College, Oxford, UK'Max Corden is one of a relatively small number of international economists with instant name recognition world-wide. Over a long career he has pioneered a number of key developments. His talent for clear exposition has always guaranteed him a wide audience. This collection brings together 24 of his best known papers, covering trade theory, trade and growth, Dutch Disease, balance of payments and monetary integration. A splendid collection in one volume which will be extensively used and widely cited - a must for the bookshelf.'- David Greenaway, University of Nottingham, UK'Max Corden is one of the leading international economists of his generation. His work combines rigour with insight, intuition and accessibility; by bringing complex problems down to earth he has contributed more to the understanding of international economics than most theorists. This book, which collects together his major contributions, is a pleasure as well as an instruction to read.'- L. Alan Winters, University of Birmingham, UK Max Corden has during the course of a long and distinguished career become established as one of the world's leading authorities on international trade theory. This selection of some of his most important articles and papers - many of which are considered classics - demonstrates his distinctive style, favouring words and diagrams over mathematics and aiming always for clear and simple exposition. Part I consists of three surveys: the first covers the period from 1949 to 1964, the second reviews empirical work on protection and the third provides a long review of the normative theory of international trade. Part II deals with the theory of trade policy and includes a critical essay on strategic trade policy, as well as articles on effective protection, foreign investment and protection, and customs union theory. Other topics covered include trade and growth, balance-of-payments theory, booming sector and Dutch disease economics, and international macroeconomic policy interaction and transmission. In an introduction Max Corden gives a fascinating account of how he came to write these papers. The book will be an essential reference companion for both students and researchers concerned with international trade theory.