Trade Policy and Economic WelfareThis book expounds the normative theory of trade policy, and is especially concerned with economic politicies in developing countries. The exposition is non-mathematical, with liberal use of clear diagrams. |
Contents
Introduction | 1 |
The Theory of Domestic Divergences | 9 |
The SecondBest Optimum Tariff | 18 |
Copyright | |
51 other sections not shown
Common terms and phrases
advanced sector agriculture analysis argument for protection assumed assumption balance of payments benefits by-product distortion capital accumulation capital market capital-goods cent Chapter collection costs consumers consumption cost curve cost of production cost-benefit analysis demand curve devaluation Developing Countries distortion costs domestic divergences domestic price domestic production dumping effective protection effective rates employment equilibrium exchange rate external economies factor fall Figure finance firms first-best policy foreign capital free trade gain given hence import price imposed income distribution effects increase infant industry argument inputs International Trade labour less-developed countries made-to-measure manufacturing marginal cost marginal divergence marginal product monopoly profits optimal optimum export tax optimum tax orthodox optimum tariff output Pareto-efficiency pecuniary external possible rate of growth ratio real income real wage redistribution reduce relevant rent-seeking restrictions result rise savings second-best optimum social cost social welfare function subsistence sector supply curve tax rate terms of trade Theory X-efficiency