Determinants of Specialization and Main Trends in International Trade

Abstract

This chapter presents a review of the determinants of specialization and the main trends in international trade. Globalization, trade agreements, new economic poles, and regional integration represent the most influential trends in international trade. Research in this field shows that the main determinants of specialization are demographic change; advances in technology, investment, and energy; and natural resources. Each of the mentioned determinants of specialization and trends will be discussed and constitute a separate section with relevant research and key findings.