Theoretical and Natural Science
- The Open Access Proceedings Series for Conferences
Theoretical and Natural Science
Vol. 36, 28 May 2024
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Economic diplomacy: Analyzing theories and models for informed policy
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Abstract
This paper examines the intricate relationship between economic theories, trade policies, and diplomatic engagements in the context of international relations. Utilizing theoretical frameworks such as the theory of comparative advantage and the Heckscher-Ohlin model, we analyze the foundational principles guiding global trade and policy-making. We explore the role of probabilistic models, including Bayesian statistics and regression analysis, in forecasting economic trends and their implications for international relations. Furthermore, we investigate the impact of trade policies, including tariffs, non-tariff barriers, and global trade agreements, on economic dynamics and diplomatic interactions. Through case studies of economic sanctions, we assess the effectiveness of sanctions as a diplomatic tool and propose policy recommendations for their optimal implementation. Our analysis highlights the complexity of economic diplomacy and underscores the importance of quantitative analysis in informing policy decisions and fostering international cooperation.
Keywords
Economic theories, International relations, Trade policies, Diplomacy, Economic sanctions
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Mathematical Physics and Computational Simulation
- ISBN (Print)
- 978-1-83558-441-5
- ISBN (Online)
- 978-1-83558-442-2
- Published Date
- 28 May 2024
- Series
- Theoretical and Natural Science
- ISSN (Print)
- 2753-8818
- ISSN (Online)
- 2753-8826
- DOI
- 10.54254/2753-8818/36/20240510
- Copyright
- 28 May 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited