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Essay / Research Paper Abstract
This 5 page paper looks at economic theory in order to explain why there is more trade moving from Sri Lanka to India compared to the movement of goods from India to Sri Lanka. International trade theory is used as an explanation. The bibliography cites 7 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEsriindia.rtf
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Unformatted sample text from the term paper:
this is not always the case as seen with India and Sri Lanka, where container ships travel form Sri Lanka to India, but on the return journey they are only
half full, indicating that there is far more trade moving from Sri Lanka into India that out if India into Sri Lanka. To consider how and why this may occur,
the concept of comparative advantage needs to be considered and applied to the real world. This consideration needs to start with the ideas
of Adam Smith, Smith stipulates that each nation should concentrate on producing goods where they have the absolute advantage (Thompson, 2007, Smith 1994). This means that they should produces the
goods that they can produce in a more effective manner than any other nation. Conversely, in international trade they should also import
any commodity where they have the absolute disadvantage, in this way resources are maximized through the comparative advantages. However, this model is very simple, and in reality there are many
nations trading many goods, and the development of trade, has not followed this model (Seyoum, 1999). Adams model has been popular and
it is a good starting point with specialization leading to more effective use of resources. It is also possible, in limited models to see this applied, especially with primary industries,
but the application is very limited when looking for supporting cases or example. The application to India and Sri Lanka would indicate that there are goods which Sri Lanka are
producing at a lower cost than India, and as such are exporting more, However., it is not as simple as this, as in order to import more India has to
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