Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization
Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization:

The proliferation of preferential trade liberalization over the last 20 years has raised the question of whether it slows down multilateral trade liberalization. Recent theoretical and empirical evidence indicates this is the case even for unilateral preferences that developed countries provide to s...

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Bibliographische Detailangaben
1. Verfasser: Limao, Nuno (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2005
Schlagworte:
Balance of Payments
Competitive Position
Currencies and Exchange Rates
Debt Markets
Economic Theory and Research
Emerging Markets
Export Markets
Finance and Financial Sector Development
Free Trade
International Economics & Trade
International Trade and Trade Rules
Law and Development
Macroeconomics and Economic Growth
Market Access
Multilateral Liberalization
Multilateral Trade Liberalization
Political Economy
Preferential Access
Preferential Tariff
Preferential Trade
Private Sector Development
Public Sector Development
Trade Policy
Trade and Region
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Zusammenfassung:The proliferation of preferential trade liberalization over the last 20 years has raised the question of whether it slows down multilateral trade liberalization. Recent theoretical and empirical evidence indicates this is the case even for unilateral preferences that developed countries provide to small and poor countries but there is no estimate of the resulting welfare costs. To avoid this stumbling block effect we suggest replacing unilateral preferences by a fixed import subsidy. We argue that this scheme would reduce the drag of preferences on multilateral liberalization and generate a Pareto improvement. More importantly, we provide the first estimates of the welfare cost of preferential liberalization as a stumbling block to multilateral liberalization. By combining recent estimates of the stumbling block effect of preferences with data for 170 countries and over 5,000 products we calculate the welfare effects of the United States, European Union and Japan switching from unilateral preferences to Least Developed Countries to the import subsidy scheme. Even in a model with no dynamic gains to trade we find that the switch produces an annual net welfare gain for the 170 countries (
Beschreibung:1 Online-Ressource (1 online resource (34 p.))
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