Tariffs, quotas and VER's when capital is internationally mobile

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Title: Tariffs, quotas and VER's when capital is internationally mobile
Authors: Neary, J. Peter
Permanent link: http://hdl.handle.net/10197/1433
Date: Mar-1987
Abstract: This paper begins by reexamining the equivalence of tariffs and quantitative trade restrictions. It is argued that equivalence holds in extremely general circumstances but that this fact must be interpreted with care, since the tariff rates equivalent to a given set of quantitative restrictions are themselves functions of all the exogenous variables characterising equilibrium. A general framework for comparing the effects of tariffs, quotas and VER's is then presented. Among the results, it is shown that, although international capital mobility raises the welfare cost of tariff protection, it lowers the welfare cost of protection by means of quantitative restrications.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Subject LCSH: Tariff
Restraint of trade
Export controls
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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