Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries.
This paper explores the links between international trade theory and the practice of trade and industrial policy in open economies, with special attention to three areas where theoretical lessons have been misunderstood in policy debates. I argue that the 'concertina rule' for tariff refor...
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| Format: | Working paper |
| Language: | English |
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Centre for Economic Performance, LSE
1997
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| _version_ | 1826260577877491712 |
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| author | Neary, J |
| author_facet | Neary, J |
| author_sort | Neary, J |
| collection | OXFORD |
| description | This paper explores the links between international trade theory and the practice of trade and industrial policy in open economies, with special attention to three areas where theoretical lessons have been misunderstood in policy debates. I argue that the 'concertina rule' for tariff reform justifies reductions in high tariffs, but not moves towards uniformity, and particularly not increases in low tariffs. I show that the basic principles of tariff reform are the same in unilateral, multilateral and customs union contexts. Finally, I show that the theory of strategic trade policy does not justify export subsidies to high-technology industries. |
| first_indexed | 2024-03-06T19:07:52Z |
| format | Working paper |
| id | oxford-uuid:15c8febb-daab-4ab7-bfa0-b7ac8428e173 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:07:52Z |
| publishDate | 1997 |
| publisher | Centre for Economic Performance, LSE |
| record_format | dspace |
| spelling | oxford-uuid:15c8febb-daab-4ab7-bfa0-b7ac8428e1732022-03-26T10:27:21ZPitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:15c8febb-daab-4ab7-bfa0-b7ac8428e173EnglishDepartment of Economics - ePrintsCentre for Economic Performance, LSE1997Neary, JThis paper explores the links between international trade theory and the practice of trade and industrial policy in open economies, with special attention to three areas where theoretical lessons have been misunderstood in policy debates. I argue that the 'concertina rule' for tariff reform justifies reductions in high tariffs, but not moves towards uniformity, and particularly not increases in low tariffs. I show that the basic principles of tariff reform are the same in unilateral, multilateral and customs union contexts. Finally, I show that the theory of strategic trade policy does not justify export subsidies to high-technology industries. |
| spellingShingle | Neary, J Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title | Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title_full | Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title_fullStr | Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title_full_unstemmed | Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title_short | Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries. |
| title_sort | pitfalls in the theory of international trade policy concertina reforms of tariffs and subsidies to high technology industries |
| work_keys_str_mv | AT nearyj pitfallsinthetheoryofinternationaltradepolicyconcertinareformsoftariffsandsubsidiestohightechnologyindustries |