The Economics of Trade Protection

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Cambridge University Press, Aug 31, 1990 - Business & Economics - 305 pages
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Over the past two decades there has been a gradual but fundamental change in the nature of trade protection. Even as international negotiation has succeeded in reducing tariffs to low levels, national governments have resorted to a range of increasingly intricate policies to protect their domestic industries from foreign competition. Direct quantitative restrictions on international trade have become particularly widespread. Such nontariff barriers often have very different effects from tariffs and require careful analysis in their own right. This book presents a systematic overview of the modern theory of trade protection. The material in the book divides naturally into four sections. The first section covers trade restrictions in competitive markets, the second trade restrictions and imperfect competition, the third the political economy of trade protection, and the fourth the theory of policy reform. The presentation makes extensive use of diagrams, with the more difficult mathematics included in six appendixes.
 

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Contents

Basic international trade theory
3
12 Factor intensities factor prices and product prices
9
13 Factor endowments and the Rybczynski theorem
13
14 Specific factors and income distribution in the short run
15
15 Determination of world prices
18
16 Summary
24
Protection for a small country
25
22 Tariffs and noneconomic objectives
30
64 Free entry and integrated markets
143
65 Empirical studies
146
66 Summary
149
Monopolistic competition and product differentiation
151
71 Types of product differentiation
152
72 International trade with SDS product differentiation
153
73 The Lancaster model
161
74 The composition of trade
167

23 Quantitative restrictions
38
24 Local content schemes
40
25 Export subsidies
43
26 Export taxes and the Lerner symmetry theorem
45
27 Preferential government procurement policies
47
28 Measuring the costs of a tariff
48
29 Effective protection
53
210 Summary
58
Import quotas and tariffs Some other issues
60
31 Quotas and heterogeneous product categories
61
32 Dynamic nonequivalence of tariffs and quotas
64
33 Tariffs and quotas under uncertainty
66
34 The rentseeking costs of tariffs and quotas
74
35 Summary
83
Protection for a large country
84
42 Tariffs and retaliation
89
43 Quotas and retaliation
93
44 Voluntary export restraints
96
45 Variable import levies and export subsidies
100
46 Summary
103
Protection and imperfect competition
105
Monopoly
107
51 Increasing costs
108
52 Economies of scale
116
53 The optimal tariff for extracting foreign rents
122
54 Summary
125
Oligopoly
127
61 Tariffs and rent shifting
128
62 Exporting by the domestic firm
133
63 Trade restrictions as facilitating practices
140
75 Falvey model of product differentiation
168
76 Summary
172
The political economy of protection
175
Endogenous protection
177
81 Direct majority voting
178
82 Pressure groups
181
83 Lobbies and political parties
189
84 The choice of protective instrument
192
85 Summary
198
Reducing protection
201
Approaches to reducing protection I Unilateral reform
203
92 Tariff reform in the presence of adjustment costs
218
93 Measurement of the gains from reduced protection
223
94 Summary
227
Approaches to reducing protection II Multilateral reform
230
101 Welfareimproving tariffcutting formulae
232
102 Preferential tariff reduction
234
103 Negotiated tariff reductions
246
104 Summary
250
Appendices
253
The twosector trade model
255
Optimal policies in the presence of noneconomic objectives
262
The CournotNash model of Sections 61 and 62
267
Derivation of results in Section 82
270
Derivation of results in Section 92
273
Derivation of equations 5 and 6 in Chapter 10
276
Notes
278
References
289
Index
299
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