Evaluation of the Adequacy of the Trade Theories' Assumptions to Explain the Impact of NICs/Regions on International Trade

Year 2013, Volume: 20 Issue: 20, - , 01.09.2013

Levent Vurgun , Furkan Metin

Abstract

International trade patterns and importance of trade regions changes in the course of time according to changing needs of humankind and entrepreneurial interest in increasing return hence looking for ways to accomplish it. Several numbers of trade theories have been developed to date to explain international trade. In this paper, classical trade theories, modern trade theory, new trade theory and a number of other contemporary approaches will be evaluated in terms of their validity and ability to explain international trade, particularly the impact of NICs on international trade.

Keywords

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