Abstract
This paper is the outcome of a project to review the literature on comparative advantage. A good understanding of the literature on comparative advantage is seen as a precursor to increasing cooperation between stakeholders, especially in industries linked to international trade. Increased cooperation between stakeholders is seen as one of the early stages in the development process that might lead in the medium term to the establishment of a formal cooperation agreement or to an industrial cluster. It is widely believed by economists that comparative advantage is a key determinant of international production and trade patterns. Gaining a deeper understanding of the concept of comparative advantage enables countries to increase their welfare by exporting in those goods in which they know they have a comparative advantage. In Section II we review the evolution of trade theory from Classical to neo-classical and then to Modern theory. Section III is an application of comparative advantage. The outcomes, learning experiences, planned future directions and actions and potential spillovers identified from the Project were better than was expected in the planning stages of the Project because the paper turned out to be useful across a wider range of disciplines than was expected in the planning stages of the project.
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SEGRA 2006 Tenth National Conference: sustainable economic growth for regional Australia
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978-0-9802833-1-0
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10
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Launceston, TAS, Australia
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Management Solutions
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