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Synopsis International trade theory explains the patterns of specialization like cross-country differences in tastes, technology and factor endowments. Traditional trade theory emphasizes comparative advantage as a source of trade. The Ricardian theory predicts that a country will export the products in which it has a comparative advantage. The Ricardian model was very helpful for several issues such as the effects of technological progress on the patterns of specialization and the distribution of gains from trade. During last two decades, lot of emphasis has been put on the resources of trade deriving from increasing returns to scale, product differentiation and monopolistic competition. In new trade theory, imperfect competition and scale economies featured prominently. The static models of intra-industry trade suggested a new explanation for dynamic relationships between technology and trade. The focus in recent research has been on endogenous evolution of technology in response to various market incentives. In these studies, several insights have been borrowed from recent studies on endogenous growth. This volume brings together recent work relating to the following issues of trade and growth controversies: 1. Adam Smith and Trade Theory; 2. Gains from Trade; 3. Trade, Specialization and Endogenous Growth; 4. Economic Geography and Trade; 5. Trade as Engine of Growth; 6. Exports and Human Capital; 7. Trade Patterns and Technical Change; 8. Trade and Inequality; 9. Trade, Geography and Division of Labour. This series is dedicated to Rural Prebisch who underlined the dynamics of the world economy and the interdependence between the industrial countries of the North and the LDCs of the South.