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【正文】 the important input factors in highly innovative industries. ? The specialized knowledge that is crucial to success in innovative industries es from: – Research and development efforts – Reverse engineering – Informal exchange of information and ideas The Theory of External Economies 49 ? External Economies and Increasing Returns ? External economies can give rise to increasing returns to scale at the level of the national industry. ? Forwardfalling supply curve –The larger the industry’s output, the lower the price at which firms are willing to sell their output. The Theory of External Economies 50 ? External Economies and the Patter of Trade ? A country that has large production in some industry will tend to have low costs of producing that good. ? Countries that start out as large producers in certain industries tend to remain large producers even if some other country could potentially produce the goods more cheaply. – Figure 69 illustrates a case where a pattern of specialization established by historical accident is persistent. External Economies and International Trade 51 Figure 69: External Economies and Specialization External Economies and International Trade ACSWISS Q1 P1 Price, cost (per watch) Quantity of watches produced and demanded ACTHAI 2 1 C0 D 52 ? Trade and Welfare with External Economies ? Trade based on external economies has more ambiguous effects on national welfare than either trade based on parative advantage or trade based on economies of scale at the level of the firm. – An example of how a country can actually be worse off with trade than without is shown in Figure 610. External Economies and International Trade 53 Figure 610: External Economies and Losses from Trade External Economies and International Trade ACSWISS P1 Price, cost (per watch) Quantity of watches produced and demanded ACTHAI 2 1 C0 DTHAI DWORLD P2 54 ? Dynamic Increasing Returns ? Learning curve – It relates unit cost to cumulative output. – It is downward sloping because of the effect of the experience gained though production on costs. ? Dynamic increasing returns – A case when costs fall with cumulative production over time, rather than with the current rate of production. ? Dynamic scale economies justify protectionism. – Temporary protection of industries enables them to gain experience (infant industry argument). External Economies and International Trade 55 Figure 611: The Learning Curve External Economies and International Trade L Unit cost Cumulative output L* C*0 C1 QL 56 Summary ? Trade can result from increasing returns or economies of scale, that is, from a tendency of unit costs to be lower at larger levels of output. ? Economies of scale can be internal or external. ? The presence of scale economies leads to a breakdown of perfect petition. ? Trade in the presence of economies of scale must be analyzed using models of imperfect petition. 57 Summary ? In monopolistic petition, an industry contains a number of firms producing differentiated products. ? Intraindustry trade benefits consumers through greater product variety and lower prices. ? In general, trade may be divided into two kinds: ? Twoway trade in differentiated products within an industry (intraindustry trade). ? Trade in which the products of one industry are exchanged for products of another (interindustry trade). 58 Summary ? Dumping occurs when a firm charges a lower price abroad than it charges domestically. ? Dumping can occur only if two conditions are met: ? The industry must be imperfectly petitive. ? Markets must be geographically segmented. ? External economies give an important role to history and accident in determining the pattern of international trade. ? When external economies are important, countries can conceivably lose from trade. 59 演講完畢，謝謝觀看！
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