Home Biased Effect in the International Trade Problems

Student: Muradova Malika

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

The paper analyses a model of monopolistic competition, which includes both consumer’s attraction to diversity and product quality. Therefore, a utility function with these properties is proposed and equilibrium conditions in the long as well as short periods are considered. Moreover, the problem of interregional trade is approached in a prospective when consumer preferences regarding product quality are heterogeneous. There are many key determinants of the level of economic growth: 1) the growth of product quality and competitiveness; 2) problems of standardization and certification; 3) the stage of development of quality management systems; 4) the overall quality culture in each country. The quality of a product in this context means the degree of its complexity and functionality, which is indirectly related to the number of components, intermediate goods included in the final product.

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