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The Economics of Barter and Countertrade

'Countertrade is a more common phenomenon than many people realise, especially in East-West and North-South trade. Yet, superficially, countertrade is inefficient in comparison to monetary trade. the paradox of how an apparently inefficient trading mechanism can become so dominant attracted increasing theoretical interest in the 1970s and 1980s. the editors of this volume were amongst the intellectual leaders in the field. the literature on countertrade is quite diffuse, and the editors have performed a major service by bringing together the important contribution in a single volume. This will be an important source of reference for many years to come.' - Mark Casson, University of Reading, UK

This authoritative collection presents the most important published articles on barter and countertrade from early scepticism to the recent sophisticated theoretical models and empirical evidence.The papers selected focus upon the policy ...