Trade policies in developing countries have been a focal point of analysis for international economists in the past several decades. A desire for rapid economic growth in developing countries raised many questions about the relationship between trade and growth. This chapter discusses that the...

Normative economics is concerned with making welfare judgments about policies and economic events. This chapter discusses government policies. In the case of trade theory, commercial policy-normative economics embraces the study of the welfare consequences of various events when policies are...