International Trade and Economic Integration as a Means of Over-Coming the Disadvantages of a Small Nation

Abstract

I propose in this paper to attempt a theoretical discussion, first of some of the factors that inhibit efficiency and growth in too small an economy, and second of the influence international trade and economic integration are likely to exert on these factors. Strictly speaking, the task I have been asked to undertake comprises only the second of these two. But to discuss the influence of trade and integration on the inhibiting factors, these latter must first be analysed; also, the discussion of these factors and their influencing must be closely co-ordinated; and at the time of writing I have no way of knowing the coverage and approach of the other papers. I can only hope, therefore, that this paper will not repeat too much of what has already been said and discussed at an earlier stage, and that whatever repetition it contains may not be too boring.