The aim of the article is to explore relations between new trade theories and economic theory of small states. The article primarily deals with the question of capacity of new trade theories to explain small states in international trade and economic relations. The second focus of the article is the acceptance of the new trade theories, which we measure through their inclusion into renowned textbooks. We conclude that neither classical nor new trade theories (can) incorporate small states. The analysis on the acceptance of the new trade theories shows that textbooks rarely include new theories of international trade, whereas their inclusion is subject to the arbitrary decision of the author.
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