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Tariffs, quotas and voluntary export restraints with and without internationally mobile capital

Abstract:

This paper presents a general framework for comparing the effects of tariffs, quotas and VERS (voluntary export restraints) both with and without international capital mobility. Expressions for the shadow price of foreign exchange and the shadow price of capital under each type of trade restriction are derived, and it is shown that, although international capital mobility raises the welfare cost of tariff protection, it lowers the welfare cost of quantitative restrictions. In most cases the e...

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Publication status:
Published
Peer review status:
Peer reviewed

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Institution:
University of Oxford
Research group:
Industrial Economics
Oxford college:
Merton College
Department:
Social Sciences Division - Economics
Publisher:
Blackwell Publishing Publisher's website
Journal:
Canadian Journal of Economics
Volume:
21
Issue:
4
Pages:
571-585
Publication date:
1988-11-05
ISSN:
0008-4085
URN:
uuid:2533780a-0d73-42c3-84b1-72a28057b52c
Local pid:
ora:2203

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