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Реферат International Trade in the Natural Gas Industry

align="justify"> The essence of the neoclassical approach to international trade and specialization of individual countries is as follows: for historical reasons geographical distribution of materials and human resources are unequal that can explain the differences in prices for goods on which the national comparative advantage is highly dependent. This implies the law of proportionality factors. In an open economy each country tends to specialize in the manufacturing the goods which require more factors with which the country is better endowed (Leamer 1995). Considering gas industry it could be stated that those countries which possess large quantity of gas resources on their territories first of all have the comparative advantage compared to other countries and for such countries as Norway, Canada, Qatar, Algeria and Russia natural gas plays the role of factor that creates this comparative advantage. Further more the prices for gas in home-country will be relatively lower than in the countries which are forced to import it due to different costs they need to cover to satisfy their need. But what is better to be a reach natural resource country or it is better to import them to fulfill the internal needs? theorem of international trade of Heckscher-Ohlin was contributed by the theoretical study of Rybczybski which shows that the expansion of export production by using relative excess factors will lead to stagnation in production in other industries for which this factor is not relatively abundant. The theoretical conclusions of Rybczybski were repeatedly proved by cases nowadays known as Dutch disease . The manifestation of this disease was associated with an active development of Dutch natural gas fields in the North Sea, which was accompanied by overflowed resources into this sector. Rising world market prices for all fuels, including natural gas, increased the activity of the Netherlands in the development of new deposits but the new Dutch sector of the economy caused an outflow of resources from other sectors. There was a significant reduction in the output in manufacturing industry. Overflow of resources from the manufacturing sector contributed to a reduction in their volume of production and exports. Similar process has taken place in Great Britain, Norway, Saudi Arabia, Nigeria, Mexico and other countries where the intensive development of new natural deposits was conducted (Rybczynski 1955). As can be seen from the countries which suffered from the same problem not only developing countries can face it but every country if both of the two fallowing factors are fulfilled: first is - open economy, the second is - relatively high availability of the country s natural resources. There is a more general theory, concerning natural resources-the empirical investigation The curse of natural resources by Prebisch and Hirschman, in the presence of a significant number of control variables set a negative statistical relationship between the wealth of natural resources and the pace of economic growth. (Prebisch, 1950, Hirschman, 1958) Further empirical research on the problem of В«The curse of natural resourcesВ» was carried out by number of economists. Most important contribution in this research was made by Sachs and Warner. They have studied 97 developing countries in the period of 1970-1989 and concluded that the countries with a high ratio of natural resource exports had a much slower economic growth rate than countries with a relatively low ratio of natural resource exports to GDP (Sachs & Warner 1997). problem of В«The curse of natural resourcesВ» is very important not only for developing countries, as it is stated in the main stream of literature, but also for countries with transition economies that are rich in natural resources, in particular, Russia, Kazakhstan and Turkmenistan. The complexity of the analysis of economic processes in transition economies is that the "normal" processes of market economies, here are formed with the specific fundamental changes caused by the transition from a planned economy. As an example we can observe Russia as the richest natural resource country. In spite of uncountable natural deposits which Russia trade successfully internationally this country still can t exit from the category of developing countries and stabilize its economy.country in the world needs international trade in both economical and social aspects. Foreign trade contributes to more efficient use of both domestic resources and resources belonging to other countries, in order to better meet the unlimited needs of the population within the country and abroad. Each country is trying to get the maximum benefit from both exports and imports. But at the same time, all states must carry out certain tra...

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