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Series:   Cambridge Elements in International Economics

Virtual Trade in a Changing World

Comparative Advantage, Growth and Inequality

Published online by Cambridge University Press:  14 August 2023

Sugata Marjit ,
Gouranga G. Das  and
Biswajit Mandal
Sugata Marjit
Affiliation:
Indian Institute of Foreign Trade (IIFT), India
Gouranga G. Das
Affiliation:
Hanyang University, South Korea
Biswajit Mandal
Affiliation:
Visva-Bharati University, India

Summary

Virtual economic transactions have radically transformed the way we think about trade and markets in closed and open economies. Continuous decline in costs of information and communications and setting up of phenomenally large number of virtual platforms have brought in 'Time' as an essential element in the discourse on international trade. This work delves deep into the issue of how Time enters as a major catalyst of international trade and virtual transactions. This changes the way we look at ideas of comparative advantage, factor mobility, growth, income distribution, and allied concepts. A key result is that greater physical distance might encourage trade contrary to what we are accustomed to accept.
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Keywords

tradetime zone differencestrade in business servicesskilled and unskilled laborday-shift and night-shift work
Type
Element
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Series: Cambridge Elements in International Economics
Online ISBN: 9781009105743
Publisher: Cambridge University Press
Print publication: 28 September 2023

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