Hillman, Arye L. - In: Globalization and emerging issues in trade theory and policy, (pp. 193-208). 2008
Purpose − Instances of refusal to trade stand in contrast to the theorems on the gains from trade. Two paradigms, second-best and political economy, have been used to explain refusal to trade. Murray Kemp (1962) provided a foundation for the political economy paradigm when he noted that, in...
