Readings
Per-lecture reading lists for Econ 2203. Each list combines the relevant textbook chapters with key journal papers. Papers marked ★ are considered essential reading.
Lecture 1: Introduction to International Trade
Textbook: Salvatore Ch. 1; Appleyard & Field Ch. 1
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Frankel & Romer (1999) | “Does Trade Cause Growth?” | AER 89(3) |
| Krugman (1995) | “Growing World Trade: Causes and Consequences” | Brookings Papers 26(1) |
| Sachs & Warner (1995) | “Economic Reform and the Process of Global Integration” | Brookings Papers 1995(1) |
| WTO (2024) | World Trade Statistical Review 2024 | WTO, Geneva |
Lecture 2: Features of International Trade
Textbook: Salvatore Ch. 2; Appleyard & Field Ch. 2
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Hummels & Klenow (2005) | “The Variety and Quality of a Nation’s Exports” | AER 95(3) |
| Helpman (1987) | “Imperfect Competition and International Trade” | J. Japanese & Int’l Econ. 1(1) |
| Lall (2000) | “The Technological Structure and Performance of Developing Country Manufactured Exports” | Oxford Dev. Studies 28(3) |
| DGCI&S (2024) | Foreign Trade Statistics of India | Ministry of Commerce |
Lecture 3: Classical Theories — Mercantilism to Smith
Textbook: Salvatore Ch. 2 §2.1–2.3; Appleyard & Field Ch. 3
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Smith, A. (1776) | Wealth of Nations, Book IV, Ch. 1–2 | Cannan Edition |
| Viner, J. (1937) | Studies in the Theory of International Trade, Ch. 1 | Harper |
| Irwin, D. A. (1996) | Against the Tide: An Intellectual History of Free Trade, Ch. 2 | Princeton UP |
| Magnusson, L. (1994) | Mercantilism: The Shaping of an Economic Language | Routledge |
Lecture 4: Comparative Advantage — Ricardo & Opportunity Cost
Textbook: Salvatore Ch. 2 §2.4–2.6; Appleyard & Field Ch. 3–4
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Ricardo, D. (1817) | Principles of Political Economy, Ch. 7 | John Murray |
| ★ MacDougall, G. D. A. (1951) | “British and American Exports: A Study Suggested by the Theory of Comparative Costs” | Economic Journal 61(244) |
| MacDougall, G. D. A. (1952) | “British and American Exports: Part II” | Economic Journal 62(247) |
| Balassa, B. (1963) | “An Empirical Demonstration of Classical Comparative Cost Theory” | Rev. Economics & Statistics 45(3) |
| Dornbusch, Fischer & Samuelson (1977) | “Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods” | AER 67(5) |
| Stern, R. M. (1962) | “British and American Productivity and Comparative Costs in International Trade” | Oxford Economic Papers 14(3) |
Lecture 5: Modern Trade Theory — Heckscher–Ohlin & Lewis
Textbook: Salvatore Ch. 5; Appleyard & Field Ch. 7–8
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Stolper & Samuelson (1941) | “Protection and Real Wages” | Review of Economic Studies 9(1) |
| ★ Leontief, W. (1953) | “Domestic Production and Foreign Trade: The American Capital Position Re-Examined” | Proc. Am. Philosophical Society 97(4) |
| Heckscher, E. F. (1919) | “The Effect of Foreign Trade on the Distribution of Income” | Ekonomisk Tidskrift 21 |
| Samuelson, P. A. (1948) | “International Trade and the Equalisation of Factor Prices” | Economic Journal 58(230) |
| Rybczynski, T. M. (1955) | “Factor Endowment and Relative Commodity Prices” | Economica 22(88) |
| Bowen, Leamer & Sveikauskas (1987) | “Multicountry, Multifactor Tests of the Factor Abundance Theory” | AER 77(5) |
| Davis & Weinstein (2001) | “An Account of Global Factor Trade” | AER 91(5) |
Lecture 6: Terms of Trade, Free Trade & FTAs
Textbook: Salvatore Ch. 6, Ch. 10; Appleyard & Field Ch. 12
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Bhagwati, J. N. (1958) | “Immiserizing Growth: A Geometrical Note” | Review of Economic Studies 25(3) |
| ★ Singer, H. W. (1950) | “The Distribution of Gains between Investing and Borrowing Countries” | AER 40(2) |
| Prebisch, R. (1950) | The Economic Development of Latin America and Its Principal Problems | ECLA |
| Viner, J. (1950) | The Customs Union Issue, Ch. 4–5 | Carnegie Endowment |
| Baier & Bergstrand (2007) | “Do Free Trade Agreements Actually Increase Members’ International Trade?” | J. Int’l Economics 71(1) |
Lecture 7: Protectionism I — Tariffs & Quotas
Textbook: Salvatore Ch. 8; Appleyard & Field Ch. 14
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Corden, W. M. (1966) | “The Structure of a Tariff System and the Effective Protective Rate” | Journal of Political Economy 74(3) |
| Bhagwati & Ramaswami (1963) | “Domestic Distortions, Tariffs and the Theory of Optimum Subsidy” | Journal of Political Economy 71(1) |
| Feenstra, R. C. (1992) | “How Costly Is Protectionism?” | Journal of Economic Perspectives 6(3) |
| Irwin, D. A. (2010) | “Does Trade Reform Promote Economic Growth? A Review of Recent Evidence” | Cato Journal 30(2) |
Lecture 8: Protectionism II — Subsidies, Dumping & Cartels
Textbook: Salvatore Ch. 9; Appleyard & Field Ch. 15
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Brander & Spencer (1985) | “Export Subsidies and International Market Share Rivalry” | J. Int’l Economics 18(1–2) |
| ★ Krugman, P. R. (1987) | “Is Free Trade Passe?” | J. Economic Perspectives 1(2) |
| Dixit, A. (1988) | “Anti-Dumping and Countervailing Duties under Oligopoly” | European Economic Review 32(1) |
| Eaton & Grossman (1986) | “Optimal Trade and Industrial Policy under Oligopoly” | Quarterly Journal of Economics 101(2) |
Lecture 9: Balance of Trade & Balance of Payments
Textbook: Salvatore Ch. 13; Appleyard & Field Ch. 17–18
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Alexander, S. S. (1952) | “Effects of a Devaluation on a Trade Balance” | IMF Staff Papers 2(2) |
| Harberger, A. C. (1950) | “Currency Depreciation, Income, and the Balance of Trade” | Journal of Political Economy 58(1) |
| Johnson, H. G. (1958) | “Towards a General Theory of the Balance of Payments” | in Int’l Trade and Economic Growth |
| Obstfeld & Rogoff (1995) | “The Intertemporal Approach to the Current Account” | Handbook of International Economics Vol. 3 |
| RBI (2024) | Annual Report and Balance of Payments Data | Reserve Bank of India |
Lecture 10: India’s External Sector
Textbook: Ministry of Commerce, Annual Report 2023–24; RBI Handbook of Statistics
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Panagariya, A. (2004) | “India’s Trade Reform” | India Policy Forum 1(1) |
| Rodrik & Subramanian (2005) | “From ‘Hindu Growth’ to Productivity Surge: The Mystery of the Indian Growth Transition” | IMF Staff Papers 52(2) |
| Hasan, Mitra & Ramaswamy (2007) | “Trade Reforms, Labor Regulations and Labor-Demand Elasticities” | Review of Economics & Statistics 89(3) |
| DGCI&S (2024) | Foreign Trade Statistics — FY2024 | Ministry of Commerce |
| RBI (2024) | Balance of Payments — FY2024 | Reserve Bank of India |
Lecture 11: Foreign Exchange — Rates and Determination
Textbook: Salvatore Ch. 14; Appleyard & Field Ch. 19
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Dornbusch, R. (1976) | “Expectations and Exchange Rate Dynamics” | Journal of Political Economy 84(6) |
| ★ Meese & Rogoff (1983) | “Empirical Exchange Rate Models of the Seventies: Do They Fit out of Sample?” | J. Int’l Economics 14(1–2) |
| Cassel, G. (1918) | “Abnormal Deviations in International Exchanges” | Economic Journal 28(112) |
| Rogoff, K. (1996) | “The Purchasing Power Parity Puzzle” | J. Economic Literature 34(2) |
| Frankel, J. A. (1979) | “On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials” | AER 69(4) |
Lecture 12: Forex Market — Instruments and Policy
Textbook: Salvatore Ch. 14–15; Appleyard & Field Ch. 20
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Obstfeld & Rogoff (1995) | “Exchange Rate Dynamics Redux” | Journal of Political Economy 103(3) |
| Mussa, M. (1986) | “Nominal Exchange Rate Regimes and the Behavior of Real Exchange Rates” | Carnegie-Rochester Conference Series 25 |
| Calvo & Reinhart (2002) | “Fear of Floating” | Quarterly Journal of Economics 117(2) |
| RBI (2024) | Report on Management of Foreign Exchange Reserves | Reserve Bank of India |
Lecture 13: WTO — Origin, Structure and Functions
Textbook: Salvatore Ch. 9 §9.7; WTO, Understanding the WTO (2023)
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Bagwell & Staiger (1999) | “An Economic Theory of GATT” | AER 89(1) |
| ★ Rose, A. K. (2004) | “Do We Really Know That the WTO Increases Trade?” | AER 94(1) |
| Subramanian & Wei (2007) | “The WTO Promotes Trade, Strongly but Unevenly” | J. Int’l Economics 72(1) |
| Broda, Limao & Weinstein (2008) | “Optimal Tariffs and Market Power: The Evidence” | AER 98(5) |
| WTO (2024) | World Trade Statistical Review 2024 | WTO, Geneva |
Lecture 14: Agreement on Agriculture
Textbook: WTO, Agreement on Agriculture (1994); OECD, Agricultural Outlook 2024
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Anderson & Martin (2005) | “Agricultural Trade Reform and the Doha Development Agenda” | World Economy 28(9) |
| Hoekman & Anderson (1999) | “Developing Country Agriculture and the New Trade Agenda” | Econ. Dev. & Cultural Change 47(1) |
| Orden, Chemnitz & Brockmeier (2011) | “WTO Blue Box Agricultural Subsidy Disciplines” | World Trade Review 10(4) |
| Bouet & Laborde (2010) | “The Potential Cost of a Failed Doha Round” | World Trade Review 9(2) |
Lecture 15: SPS Measures and Codex Alimentarius
Textbook: WTO, Understanding the SPS Agreement (2011)
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Henson & Caswell (1999) | “Food Safety Regulation: An Overview of Contemporary Issues” | Food Policy 24(6) |
| ★ Otsuki, Wilson & Sewadeh (2001) | “Saving Two in a Billion: Quantifying the Trade Effect of European Food Safety Standards on African Exports” | Food Policy 26(5) |
| Wilson & Otsuki (2004) | “Standards and Technical Regulations and Firms in Developing Countries” | World Bank Policy Research WP 3256 |
| Jaffee & Henson (2004) | Standards and Agro-Food Exports from Developing Countries | World Bank Policy Research WP 3348 |
| Codex Alimentarius Commission (2023) | Procedural Manual, 27th Edition | FAO/WHO |
Lecture 16: Export Procedures and Documentation
Textbook: DGFT, Foreign Trade Policy 2023–28; APEDA Export Manual
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Djankov, Freund & Pham (2010) | “Trading on Time” | Review of Economics & Statistics 92(1) |
| Hummels, D. (2007) | “Transportation Costs and International Trade in the Second Era of Globalization” | J. Economic Perspectives 21(3) |
| Portugal-Perez & Wilson (2012) | “Export Performance and Trade Facilitation Reform” | World Development 40(7) |
| WTO (2017) | Trade Facilitation Agreement: A Business Guide for Developing Countries | WTO, Geneva |
Lecture 17: Agricultural Export Promotion Organizations
Textbook: APEDA Annual Report 2023–24; MPEDA Annual Report 2023–24
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Roberts & Tybout (1997) | “The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs” | AER 87(4) |
| ★ Melitz, M. J. (2003) | “The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity” | Econometrica 71(6) |
| Cadot, Carrere & Strauss-Kahn (2011) | “Export Diversification: What’s Behind the Hump?” | Review of Economics & Statistics 93(2) |
| Haidar, J. I. (2012) | “Trade and Productivity: Self-Selection or Learning-by-Exporting in India” | Economic Modelling 29(5) |
| APEDA (2024) | Agricultural and Processed Food Products Export Development Authority Annual Report 2023–24 | Ministry of Commerce |
Lecture 18: India’s Agricultural Trade & Foreign Trade Policy
Textbook: Ministry of Commerce, Foreign Trade Policy 2023–28; APEDA Trade Data FY2024
| Author(s) | Paper | Journal / Source |
|---|---|---|
| ★ Gulati & Narayanan (2003) | “Subsidy Syndrome in Indian Agriculture” | Economic & Political Weekly 38(27) |
| Pursell & Gulati (1995) | “Liberalizing Indian Agriculture” | in Agriculture and the State (World Bank) |
| Anderson & Martin (2009) | Distortions to Agricultural Incentives in Asia — India chapter | World Bank |
| Sharma, R. (2011) | “Food Export Restrictions: Review of the 2007–2010 Experience” | FAO Commodity & Trade Policy WP 32 |
| Narayanan & Sharma (2001) | “Impact of Trade Liberalization on Indian Agriculture” | Agro-Economic Research Centres |
| DGFT (2023) | Foreign Trade Policy 2023–28 | Ministry of Commerce, India |