Pitfalls in the theory of international trade policy : concertina reform of tariffs, and subsidies to high-technology industries

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Title: Pitfalls in the theory of international trade policy : concertina reform of tariffs, and subsidies to high-technology industries
Authors: Neary, J. Peter
Permanent link: http://hdl.handle.net/10197/2979
Date: 24-Sep-1997
Abstract: 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 suggest that the theory of strategic trade policy does not justify subsidies to high-technology industries.
Funding Details: Not applicable
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Keywords: Trade liberalisation;Tariff reform;Concertina rule;Customs unions;Strategic trade policy;Industrial policy
Subject LCSH: Free trade
Tariff
Customs unions
Commercial policy
Industrial policy
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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