Efnisyfirlit

• Title Page
• Copyright
• Brief Contents
• Contents
• Preface
• Chapter 1. Introduction
  • What Is International Economics About?
    • The Gains from Trade
    • The Pattern of Trade
    • How Much Trade?
    • Balance of Payments
    • Exchange Rate Determination
    • International Policy Coordination
    • The International Capital Market
  • International Economics: Trade and Money
• Part 1: International Trade Theory
  • Chapter 2. World Trade: An Overview
    • Who Trades with Whom?
      • Size Matters: The Gravity Model
      • Using the Gravity Model: Looking for Anomalies
      • Impediments to Trade: Distance, Barriers, and Borders
    • The Changing Pattern of World Trade
      • Has the World Gotten Smaller?
      • What Do We Trade?
      • Service Offshoring
    • Do Old Rules Still Apply?
    • Summary
  • Chapter 3. Labor Productivity and Comparative Advantage: The Ricardian Model
    • The Concept of Comparative Advantage
    • A One-Factor Economy
      • Production Possibilities
      • Relative Prices and Supply
    • Trade in a One-Factor World
      • Determining the Relative Price after Trade
    • Box: Comparative Advantage in Practice: The Case of Usain Bolt
      • The Gains from Trade
      • A Note on Relative Wages
    • Box: Economic Isolation and Autarky Over Time and Over Space
    • Misconceptions about Comparative Advantage
      • Productivity and Competitiveness
    • Box: Do Wages Reflect Productivity?
      • The Pauper Labor Argument
      • Exploitation
    • Comparative Advantage with Many Goods
      • Setting Up the Model
      • Relative Wages and Specialization
      • Determining the Relative Wage in the Multigood Model
    • Adding Transport Costs and Nontraded Goods
    • Empirical Evidence on the Ricardian Model
    • Summary
  • Chapter 4. Specific Factors and Income Distribution
    • The Specific Factors Model
    • Box: What is a Specific Factor?
      • Assumptions of the Model
      • Production Possibilities
      • Prices, Wages, and Labor Allocation
      • Relative Prices and the Distribution of Income
    • International Trade in the Specific Factors Model
    • Income Distribution and the Gains from Trade
    • The Political Economy of Trade: A Preliminary View
      • The Politics of Trade Protection
      • Trade and Unemployment
    • Case Study: U.S. Manufacturing Employment and Chinese Import Competition
    • Box: The Trump Trade War
    • International Labor Mobility
    • Case Study: Wage and Social Benefits Convergence: Migrant Mobility in China
    • Case Study: Immigration and the U.S. Economy
    • Summary
    • Appendix to Chapter 4: Further Details on Specific Factors
      • Marginal and Total Product
      • Relative Prices and the Distribution of Income
  • Chapter 5. Resources and Trade: The Heckscher-Ohlin Model
    • Model of a Two-Factor Economy
      • Prices and Production
      • Choosing the Mix of Inputs
      • Factor Prices and Goods Prices
      • Resources and Output
    • Effects of International Trade between Two-Factor Economies
      • Relative Prices and the Pattern of Trade
      • Trade and the Distribution of Income
    • Case Study: North-South Trade and Income Inequality
      • Skill-Biased Technological Change and Income Inequality
    • Box: The Declining Labor Share of Income and Capital-Skill Complementarity
      • Factor-Price Equalization
    • Empirical Evidence on the Heckscher-Ohlin Model
      • Trade in Goods as a Substitute for Trade in Factors: Factor Content of Trade
      • Patterns of Exports between Developed and Developing Countries
      • Implications of the Tests
    • Summary
    • Appendix to Chapter 5: Factor Prices, Goods Prices, and Production Decisions
      • Choice of Technique
      • Goods Prices and Factor Prices
      • More on Resources and Output
  • Chapter 6. The Standard Trade Model
    • A Standard Model of a Trading Economy
      • Production Possibilities and Relative Supply
      • Relative Prices and Demand
      • The Welfare Effect of Changes in the Terms of Trade
    • Box: U.S. Consumer Gains from Chinese Imports
      • Determining Relative Prices
      • Economic Growth: A Shift of the RS Curve
      • Growth and the Production Possibility Frontier
      • World Relative Supply and the Terms of Trade
      • International Effects of Growth
    • Case Study: Has the Growth of Newly Industrialized Economies Hurt Advanced Nations?
    • Box: The Exposure of Developing Countries to Terms of Trade Shocks and the COVID-19 Pandemic
    • Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD
      • Relative Demand and Supply Effects of a Tariff
      • Effects of an Export Subsidy
      • Implications of Terms of Trade Effects: Who Gains and Who Loses?
    • International Borrowing and Lending
      • Intertemporal Production Possibilities and Trade
      • The Real Interest Rate
      • Intertemporal Comparative Advantage
    • Summary
    • Appendix to Chapter 6: More on Intertemporal Trade
  • Chapter 7. External Economies of Scale and the International Location of Production
    • Economies of Scale and International Trade: An Overview
    • Economies of Scale and Market Structure
    • The Theory of External Economies
    • Specialized Suppliers
    • Labor Market Pooling
    • Knowledge Spillovers
      • External Economies and Market Equilibrium
    • External Economies and International Trade
      • External Economies, Output, and Prices
      • External Economies and the Pattern of Trade
      • Trade and Welfare with External Economies
    • Box: Holding the World Together
      • Dynamic Increasing Returns
    • Interregional Trade and Economic Geography
    • Box: The City and the Street
    • Summary
  • Chapter 8. Firms in the Global Economy: Export and Foreign Sourcing Decisions and Multinational Ente
    • The Theory of Imperfect Competition
      • Monopoly: A Brief Review
      • Monopolistic Competition
    • Monopolistic Competition and Trade
      • The Effects of Increased Market Size
      • Gains from an Integrated Market: A Numerical Example
      • The Significance of Intra-Industry Trade
    • Case Study: Automobile Intra-Industry Trade within ASEAN-4: 1998–2002
    • Firm Responses to Trade: Winners, Losers, and Industry Performance
      • Performance Differences across Producers
      • The Effects of Increased Market Size
    • Trade Costs and Export Decisions
    • Dumping
    • Case Study: Antidumping as Protectionism
    • Multinationals and Foreign Direct Investment
      • Patterns of Foreign Direct Investment Flows around the World
    • Case Study: COVID-19 and Foreign Direct Investment Flows around the World
    • Foreign Direct Investment and Foreign Sourcing Decisions
      • The Horizontal FDI Decision
      • The Foreign Sourcing Decision
      • The Outsourcing Decision: Make or Buy
    • Box: Whose Trade Is It?
    • Case Study: Shipping Jobs Overseas? Offshoring and Labor Market Outcomes in Germany
      • Consequences of Multinationals and Foreign Outsourcing
    • Summary
    • Appendix to chapter 8: Determining Marginal Revenue
• Part 2: International Trade Policy
  • Chapter 9. The Instruments of Trade Policy
    • Basic Tariff Analysis
      • Supply, Demand, and Trade in a Single Industry
      • Effects of a Tariff
      • Measuring the Amount of Protection
    • Costs and Benefits of a Tariff
      • Consumer and Producer Surplus
      • Measuring the Costs and Benefits
    • Case Study: Winners and Losers of the Trump Trade War
    • Box: Tariffs and Retaliation
    • Other Instruments of Trade Policy
      • Export Subsidies: Theory
    • Box: The Unfriendly Skies: Settling the Longest Running Trade Dispute
      • Import Quotas: Theory
    • Case Study: Tariff-Rate Quota Origin and its Application in Practice with Oilseeds
      • Voluntary Export Restraints
      • Local Content Requirements
    • Box: Healthcare Protection with Local Content Requirements
      • Other Trade Policy Instruments
    • The Effects of Trade Policy: A Summary
    • Summary
    • Appendix to Chapter 9: Tariffs and Import Quotas in the Presence of Monopoly
      • The Model with Free Trade
      • The Model with a Tariff
      • The Model with an Import Quota
      • Comparing a Tariff and a Quota
  • Chapter 10. The Political Economy of Trade Policy
    • The Case for Free Trade
      • Free Trade and Efficiency
      • Additional Gains from Free Trade
      • Rent Seeking
      • Political Argument for Free Trade
    • National Welfare Arguments against Free Trade
      • The Terms of Trade Argument for a Tariff
      • The Domestic Market Failure Argument against Free Trade
      • How Convincing Is the Market Failure Argument?
    • Income Distribution and Trade Policy
      • Electoral Competition
      • Collective Action
    • Box: Politicians for Sale: Evidence from the 1990s
      • Modeling the Political Process
      • Who Gets Protected?
    • International Negotiations and Trade Policy
      • The Advantages of Negotiation
      • International Trade Agreements: A Brief History
      • The Uruguay Round
      • Trade Liberalization
      • Administrative Reforms: From the GATT to the WTO
      • Benefits and Costs
    • Box: Settling a Dispute—and Creating One
    • Case Study: Testing the WTO’s Metal
    • The End of Trade Agreements?
    • Box: Do Agricultural Subsidies Hurt the Third World?
      • Preferential Trading Agreements
    • Box: Free Trade Area Versus Customs Union
    • Box: Brexit
    • Case Study: Trade Diversion in South America
      • The Trans-Pacific Partnership
    • Summary
    • Appendix to Chapter 10: Proving That the Optimum Tariff Is Positive
      • Demand and Supply
      • The Tariff and Prices
      • The Tariff and Domestic Welfare
  • Chapter 11. Trade Policy in Developing Countries
    • Import-Substituting Industrialization
      • The Infant Industry Argument
      • Promoting Manufacturing through Protection
    • Case Study: Export-Led Strategy
    • Results of Favoring Manufacturing: Problems of Import-Substituting Industrialization
    • Trade Liberalization since 1985
    • Trade and Growth: Takeoff in Asia
    • Box: India’s Boom
    • Summary
  • Chapter 12. Controversies in Trade Policy
    • Sophisticated Arguments for Activist Trade Policy
      • Technology and Externalities
      • Imperfect Competition and Strategic Trade Policy
    • Box: A Warning From Intel’s Founder
    • Case Study: When the Chips Were Up
    • Globalization and Low-Wage Labor
      • The Anti-Globalization Movement
      • Trade and Wages Revisited
      • Labor Standards and Trade Negotiations
      • Environmental and Cultural Issues
      • The WTO and National Independence
    • Case Study: A Tragedy in Bangladesh
    • Globalization and the Environment
      • Globalization, Growth, and Pollution
      • The Problem of “Pollution Havens”
      • The Carbon Tariff Dispute
    • Trade Shocks and Their Impact on Communities
    • Summary
• Part 3: Exchange Rates and Open-Economy Macroeconomics
  • Chapter 13. National Income Accounting and the Balance of Payments
    • The National Income Accounts
      • National Product and National Income
      • Capital Depreciation and International Transfers
      • Gross Domestic Product
    • National Income Accounting for an Open Economy
      • Consumption
      • Investment
      • Government Purchases
      • The National Income Identity for an Open Economy
      • An Imaginary Open Economy
      • The Current Account and Foreign Indebtedness
      • Saving and the Current Account
      • Private and Government Saving
    • Box: The Mystery of the Missing Deficit
    • The Balance of Payments Accounts
      • Examples of Paired Transactions
      • The Fundamental Balance of Payments Identity
      • The Current Account, Once Again
      • The Capital Account
      • The Financial Account
      • Statistical Discrepancy
    • Box: Multinationals’ Profit Shifting and Ireland’s Volatile GDP
      • Official Reserve Transactions
    • Case Study: The Assets and Liabilities of the World’s Biggest Debtor
    • Summary
  • Chapter 14. Exchange Rates and the Foreign Exchange Market: An Asset Approach
    • Exchange Rates and International Transactions
      • Domestic and Foreign Prices
      • Exchange Rates and Relative Prices
    • The Foreign Exchange Market
      • The Actors
      • Characteristics of the Market
      • Spot Rates and Forward Rates
      • Foreign Exchange Swaps
      • Futures and Options
    • The Demand for Foreign Currency Assets
      • Assets and Asset Returns
      • Risk and Liquidity
      • Interest Rates
      • Exchange Rates and Asset Returns
      • A Simple Rule
      • Return, Risk, and Liquidity in the Foreign Exchange Market
    • Equilibrium in the Foreign Exchange Market
      • Interest Parity: The Basic Equilibrium Condition
      • How Changes in the Current Exchange Rate Affect Expected Returns
      • The Equilibrium Exchange Rate
      • Interest Rates, Expectations, and Equilibrium
      • The Effect of Changing Interest Rates on the Current Exchange Rate
      • The Effect of Changing Expectations on the Current Exchange Rate
    • Case Study: What Explains the Carry Trade?
    • Forward Exchange Rates and Covered Interest Parity
    • Summary
  • Chapter 15. Money, Interest Rates, and Exchange Rates
    • Money Defined: A Brief Review
      • Money as a Medium of Exchange
      • Money as a Unit of Account
      • Money as a Store of Value
      • What Is Money?
      • How the Money Supply Is Determined
    • The Demand for Money by Individuals
      • Expected Return
      • Risk
      • Liquidity
    • Aggregate Money Demand
    • The Equilibrium Interest Rate: The Interaction of Money Supply and Demand
      • Equilibrium in the Money Market
      • Interest Rates and the Money Supply
      • Output and the Interest Rate
    • The Money Supply and the Exchange Rate in the Short Run
      • Linking Money, the Interest Rate, and the Exchange Rate
      • U.S. Money Supply and the Dollar/Euro Exchange Rate
      • Europe’s Money Supply and the Dollar/Euro Exchange Rate
    • Money, the Price Level, and the Exchange Rate in the Long Run
      • Money and Money Prices
      • The Long-Run Effects of Money Supply Changes
      • Empirical Evidence on Money Supplies and Price Levels
      • Money and the Exchange Rate in the Long Run
    • Inflation and Exchange Rate Dynamics
      • Short-Run Price Rigidity versus Long-Run Price Flexibility
    • Box: Money Supply Growth and Hyperinflation in Zimbabwe
    • Permanent Money Supply Changes and the Exchange Rate
      • Exchange Rate Overshooting
    • Case Study: Inflation Targeting and Exchange Rate in Emerging Countries
    • Summary
  • Chapter 16. Price Levels and the Exchange Rate in the Long Run
    • The Law of One Price
    • Purchasing Power Parity
      • The Relationship between PPP and the Law of One Price
      • Absolute PPP and Relative PPP
    • A Long-Run Exchange Rate Model Based on PPP
      • The Fundamental Equation of the Monetary Approach
      • Ongoing Inflation, Interest Parity, and PPP
      • The Fisher Effect
    • Empirical Evidence on PPP and the Law of One Price
    • Explaining the Problems with PPP
      • Trade Barriers and Nontradables
      • Departures from Free Competition
      • Differences in Consumption Patterns and Price Level Measurement
    • Box: Measuring And Comparing Countries’ Wealth Worldwide: The International Comparison Program (IC
      • PPP in the Short Run and in the Long Run
    • Case Study: Why Price Levels Are Lower in Poorer Countries
    • Beyond Purchasing Power Parity: A General Model of Long-Run Exchange Rates
      • The Real Exchange Rate
      • Demand, Supply, and the Long-Run Real Exchange Rate
    • Box: Sticky Prices and the Law of One Price: Evidence from Scandinavian Duty-Free Shops
      • Nominal and Real Exchange Rates in Long-Run Equilibrium
    • International Interest Rate Differences and the Real Exchange Rate
    • Real Interest Parity
    • Summary
    • Appendix to Chapter 16: The Fisher Effect, the Interest Rate, and the Exchange Rate under the Flexib
  • Chapter 17. Output and the Exchange Rate in the Short Run
    • Determinants of Aggregate Demand in an Open Economy
      • Determinants of Consumption Demand
      • Determinants of the Current Account
      • How Real Exchange Rate Changes Affect the Current Account
      • How Disposable Income Changes Affect the Current Account
    • The Equation of Aggregate Demand
      • The Real Exchange Rate and Aggregate Demand
      • Real Income and Aggregate Demand
    • How Output Is Determined in the Short Run
    • Output Market Equilibrium in the Short Run: The DD Schedule
      • Output, the Exchange Rate, and Output Market Equilibrium
      • Deriving the DD Schedule
      • Factors That Shift the DD Schedule
    • Asset Market Equilibrium in the Short Run: The AA Schedule
      • Output, the Exchange Rate, and Asset Market Equilibrium
      • Deriving the AA Schedule
      • Factors That Shift the AA Schedule
    • Short-Run Equilibrium for an Open Economy: Putting the DD and AA Schedules Together
    • Temporary Changes in Monetary and Fiscal Policy
      • Monetary Policy
      • Fiscal Policy
      • Policies to Maintain Full Employment
    • Inflation Bias and Other Problems of Policy Formulation
    • Permanent Shifts in Monetary and Fiscal Policy
      • A Permanent Increase in the Money Supply
      • Adjustment to a Permanent Increase in the Money Supply
      • A Permanent Fiscal Expansion
    • Macroeconomic Policies and the Current Account
    • Gradual Trade Flow Adjustment and Current Account Dynamics
      • The J-Curve
      • Exchange Rate Pass-Through and Inflation
      • Global Value Chains and Exchange Rate Effects on Export and Import Prices
      • The Current Account, Wealth, and Exchange Rate Dynamics
    • Box: Understanding Pass-Through to Import and Export Prices
    • The Liquidity Trap
    • Case Study: How Big Is the Government Spending Multiplier?
    • Summary
    • Appendix 1 to Chapter 17: Intertemporal Trade and Consumption Demand
    • Appendix 2 to Chapter 17: The Marshall-Lerner Condition and Empirical Estimates of Trade Elasticitie
    • Appendix 3 to Chapter 17: The IS-LM Model and the DD-AA Model
  • Chapter 18. Fixed Exchange Rates and Foreign Exchange Intervention
    • Why Study Fixed Exchange Rates?
    • Central Bank Intervention and the Money Supply
      • The Central Bank Balance Sheet and the Money Supply
      • Foreign Exchange Intervention and the Money Supply
      • Sterilization
      • The Balance of Payments and the Money Supply
    • How the Central Bank Fixes the Exchange Rate
      • Foreign Exchange Market Equilibrium under a Fixed Exchange Rate
      • Money Market Equilibrium under a Fixed Exchange Rate
      • A Diagrammatic Analysis
    • Stabilization Policies with a Fixed Exchange Rate
      • Monetary Policy
      • Fiscal Policy
      • Changes in the Exchange Rate
      • Adjustment to Fiscal Policy and Exchange Rate Changes
    • Balance of Payments Crises and Capital Flight
    • Managed Floating and Sterilized Intervention
      • Perfect Asset Substitutability and the Ineffectiveness of Sterilized Intervention
    • Case Study: Can Markets Attack a Strong Currency? The Case of Switzerland, 2011–2015
      • Foreign Exchange Market Equilibrium under Imperfect Asset Substitutability
      • The Effects of Sterilized Intervention with Imperfect Asset Substitutability
      • Evidence on the Effects of Sterilized Intervention
    • Reserve Currencies in the World Monetary System
      • The Mechanics of a Reserve Currency Standard
      • The Asymmetric Position of the Reserve Center
    • The Gold Standard
      • The Mechanics of a Gold Standard
      • Symmetric Monetary Adjustment under a Gold Standard
      • Benefits and Drawbacks of the Gold Standard
      • The Bimetallic Standard
      • The Gold Exchange Standard
    • Case Study: The Demand for International Reserves
    • Summary
    • Appendix 1 to Chapter 18: Equilibrium in the Foreign Exchange Market with Imperfect Asset Substituta
      • Demand
      • Supply
      • Equilibrium
    • Appendix 2 to Chapter 18: The Timing of Balance of Payments Crises
    • Appendix 3 to Chapter 18: The Monetary Approach to the Balance of Payments
• Part 4: International Macroeconomic Policy
  • Chapter 19. International Monetary Systems: A Historical Overview
    • Macroeconomic Policy Goals in an Open Economy
      • Internal Balance: Full Employment and Price Level Stability
      • External Balance: The Optimal Level of the Current Account
    • Box: Can a Country Borrow Forever? The Case of New Zealand
    • Classifying Monetary Systems: The Open-Economy Monetary Trilemma
    • International Macroeconomic Policy under the Gold Standard, 1870–1914
      • Origins of the Gold Standard
      • External Balance under the Gold Standard
      • The Price-Specie-Flow Mechanism
      • The Gold Standard “Rules of the Game”: Myth and Reality
      • Internal Balance under the Gold Standard
    • Case Study: The Political Economy of Exchange Rate Regimes: Conflict over America’s Monetary Stand
    • The Interwar Years, 1918–1939
      • The Fleeting Return to Gold
      • International Economic Disintegration
    • Case Study: The International Gold Standard and the Great Depression
    • The Bretton Woods System and the International Monetary Fund
      • Goals and Structure of the IMF
      • Convertibility and the Expansion of Private Financial Flows
      • Speculative Capital Flows and Crises
    • Analyzing Policy Options for Reaching Internal and External Balance
      • Maintaining Internal Balance
      • Maintaining External Balance
      • Expenditure-Changing and Expenditure-Switching Policies
    • The External Balance Problem of the United States under Bretton Woods
    • Case Study: The End of Bretton Woods, Worldwide Inflation, and the Transition to Floating Rates
      • The Mechanics of Imported Inflation
      • Assessment
    • The Case for Floating Exchange Rates
      • Monetary Policy Autonomy
      • Symmetry
      • Exchange Rates as Automatic Stabilizers
      • Exchange Rates and External Balance
    • case study: The First Years of Floating Rates, 1973–1990
    • Macroeconomic Interdependence under a Floating Rate
    • Case Study: Transformation and Crisis in the World Economy
    • Box: The Thorny Problem of Currency Manipulation
    • Case Study: The Dangers of Deflation
    • What Has Been Learned Since 1973?
      • Monetary Policy Autonomy
      • Symmetry
      • The Exchange Rate as an Automatic Stabilizer
      • External Balance
      • The Problem of Policy Coordination
    • Are Fixed Exchange Rates Even an Option for Most Countries?
    • Summary
    • Appendix to Chapter 19: International Policy Coordination Failures
  • Chapter 20. Financial Globalization: Opportunity and Crisis
    • The International Capital Market and the Gains from Trade
      • Three Types of Gain from Trade
      • Risk Aversion
      • Portfolio Diversification as a Motive for International Asset Trade
      • The Menu of International Assets: Debt versus Equity
    • International Banking and the International Capital Market
      • The Structure of the International Capital Market
      • Offshore Banking and Offshore Currency Trading
      • The Shadow Banking System
    • Banking and Financial Fragility
      • The Problem of Bank Failure
      • Government Safeguards against Financial Instability
      • Moral Hazard and the Problem of “Too Big to Fail”
    • Box: Does the IMF Create Moral Hazard?
    • The Challenge of Regulating International Banking
      • The Financial Trilemma
      • International Regulatory Cooperation through 2007
    • Case Study: The Global Financial Crisis of 2007–2009
    • Box: Foreign Exchange Instability and Central Bank Swap Lines
      • International Regulatory Initiatives after the Global Financial Crisis
    • Metrics for International Capital Market Performance
      • The Extent of International Portfolio Equity Diversification
      • The Extent of Intertemporal Trade
      • The Efficiency of International Asset-Price Arbitrage
      • The Efficiency of the Foreign Exchange Market
    • Summary
  • Chapter 21. Optimum Currency Areas and the Euro
    • How the European Single Currency Evolved
      • What Has Driven European Monetary Cooperation?
    • Box: Brexit
      • The European Monetary System, 1979–1998
      • German Monetary Dominance and the Credibility Theory of the EMS
      • Market Integration Initiatives
      • European Economic and Monetary Union
    • The Euro and Economic Policy in the Euro Zone
      • The Maastricht Convergence Criteria and the Stability and Growth Pact
      • The European Central Bank and the Eurosystem
      • The Revised Exchange Rate Mechanism
    • The Theory of Optimum Currency Areas
      • Economic Integration and the Benefits of a Fixed Exchange Rate Area: The GG Schedule
      • Economic Integration and the Costs of a Fixed Exchange Rate Area: The LL Schedule
      • The Decision to Join a Currency Area: Putting the GG and LL Schedules Together
      • What Is an Optimum Currency Area?
      • Other Important Considerations
    • Case Study: Is Europe an Optimum Currency Area?
    • The Euro Crisis and the Future of EMU
      • Origins of the Crisis
      • Self-Fulfilling Government Default and the “Doom Loop”
      • A Broader Crisis and Policy Responses
      • ECB Outright Monetary Transactions
      • Response to the COVID-19 Pandemic
      • The Future of EMU
    • Summary
  • Chapter 22. Developing Countries: Growth, Crisis, and Reform
    • Income, Wealth, and Growth in the World Economy
      • The Gap between Rich and Poor
      • Has the World Income Gap Narrowed Over Time?
      • The Importance of Developing Countries for Global Growth
    • Structural Features of Developing Countries
    • Box: The Commodity Super Cycle
    • Developing-Country Borrowing and Debt
      • The Economics of Financial Inflows to Developing Countries
      • The Problem of Default
      • Alternative Forms of Financial Inflow
      • The Problem of “Original Sin”
      • The Debt Crisis of the 1980s
      • Reforms, Capital Inflows, and the Return of Crisis
    • East Asia: Success and Crisis
      • The East Asian Economic Miracle
    • Box: Why Have Developing Countries Accumulated High Levels of International Reserves?
      • Asian Weaknesses
    • Box: What Did East Asia Do Right?
      • The Asian Financial Crisis
    • Lessons of Developing-Country Crises
    • Reforming the World’s Financial “Architecture”
      • Capital Mobility and the Trilemma of the Exchange Rate Regime
      • “Prophylactic” Measures
      • Coping with Crisis
    • Box: Emerging Markets and Global Financial Cycles
    • Understanding Global Capital Flows and the Global Distribution of Income: Is Geography Destiny?
    • Box: Capital Paradoxes
    • Summary
  • Mathematical Postscripts
    • Postscript to Chapter 5: The Factor-Proportions Model
      • Factor Prices and Costs
      • Goods Prices and Factor Prices
      • Factor Supplies and Outputs
    • Postscript to Chapter 6: The Trading World Economy
      • Supply, Demand, and Equilibrium
      • Supply, Demand, and the Stability of Equilibrium
      • Effects of Changes in Supply and Demand
      • Economic Growth
      • A Transfer of Income
      • A Tariff
    • Postscript to Chapter 8: The Monopolistic Competition Model
    • Postscript to Chapter 20: Risk Aversion and International Portfolio Diversification
      • An Analytical Derivation of the Optimal Portfolio
      • A Diagrammatic Derivation of the Optimal Portfolio
      • The Effects of Changing Rates of Return
    • Merchandise Trade Flows with the United States (in 2018 U.S. dollars)
    • Gross National Product per Capita (in 2019 U.S. dollars)
• Index
  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z

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