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A new approach to evaluating trade policy.

Abstract:

The authors introduce a new measure, the Trade Restrictiveness Index, to measure the restrictiveness of a system of trade protection. They propose an alternative to the commonly used ad hoc indexes of trade restrictiveness, such as the trade-weighted average tariff. That measure has no welfare-theoretic basis and can be highly misleading, in practice. For example, the complete exclusion of trade in a commodity would usually lower the index, because its trade weight would fall to zero. The aut...

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Authors


J. Peter Neary More by this author
James E Anderson More by this author
Volume:
1022
Series:
Policy Research Working Paper Series
Publication date:
1992
URN:
uuid:7b5658c5-27d3-43e9-84f8-9be525ae2c14
Local pid:
oai:economics.ouls.ox.ac.uk:12071
Language:
English

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