Trade and Growth in the Presence of Distortions:
Tariffs and other policy distortions typically lower real national income relative to what it otherwise would have been for any given rate of factor accumulation. Even while lowering real income, however, policy distortions may raise an economy''s real measured growth rate and so, somewhat...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 05/12 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Tariffs and other policy distortions typically lower real national income relative to what it otherwise would have been for any given rate of factor accumulation. Even while lowering real income, however, policy distortions may raise an economy''s real measured growth rate and so, somewhat deceivingly, give the impression that national welfare has benefited from things like tariff protection. This would be an incorrect conclusion. This paper discusses the issue of how protection can affect the rate of growth for a small, open economy. As shown by Johnson (1970), in the presence of exogenously given factor accumulation, tariffs either raise or lower an economy''s growth rate (measured by the change in the value of output at world prices), relative to the no-distortion growth rate. We also discuss the relevance of this result for tariff uniformity, ""tariff jumping"" foreign direct investment, and the empirical literature on trade and growth. Finally we use a numerical simulation model of Egypt to assess whether the costs of its tax distortions have increased or declined over time |
| Beschreibung: | 1 Online-Ressource (32 p) |
| ISBN: | 1451860315 9781451860313 |
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| index_date | 2024-07-03T20:13:23Z |
| indexdate | 2024-07-10T09:35:32Z |
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| series2 | IMF Working Papers |
| spelling | Tokarick, Stephen Verfasser aut Trade and Growth in the Presence of Distortions Tokarick, Stephen Washington, D.C International Monetary Fund 2005 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/12 Tariffs and other policy distortions typically lower real national income relative to what it otherwise would have been for any given rate of factor accumulation. Even while lowering real income, however, policy distortions may raise an economy''s real measured growth rate and so, somewhat deceivingly, give the impression that national welfare has benefited from things like tariff protection. This would be an incorrect conclusion. This paper discusses the issue of how protection can affect the rate of growth for a small, open economy. As shown by Johnson (1970), in the presence of exogenously given factor accumulation, tariffs either raise or lower an economy''s growth rate (measured by the change in the value of output at world prices), relative to the no-distortion growth rate. We also discuss the relevance of this result for tariff uniformity, ""tariff jumping"" foreign direct investment, and the empirical literature on trade and growth. Finally we use a numerical simulation model of Egypt to assess whether the costs of its tax distortions have increased or declined over time Online-Ausg Cassing, James Sonstige oth http://elibrary.imf.org/view/IMF001/07443-9781451860313/07443-9781451860313/07443-9781451860313.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Tokarick, Stephen Trade and Growth in the Presence of Distortions |
| title | Trade and Growth in the Presence of Distortions |
| title_auth | Trade and Growth in the Presence of Distortions |
| title_exact_search | Trade and Growth in the Presence of Distortions |
| title_exact_search_txtP | Trade and Growth in the Presence of Distortions |
| title_full | Trade and Growth in the Presence of Distortions Tokarick, Stephen |
| title_fullStr | Trade and Growth in the Presence of Distortions Tokarick, Stephen |
| title_full_unstemmed | Trade and Growth in the Presence of Distortions Tokarick, Stephen |
| title_short | Trade and Growth in the Presence of Distortions |
| title_sort | trade and growth in the presence of distortions |
| url | http://elibrary.imf.org/view/IMF001/07443-9781451860313/07443-9781451860313/07443-9781451860313.xml |
| work_keys_str_mv | AT tokarickstephen tradeandgrowthinthepresenceofdistortions AT cassingjames tradeandgrowthinthepresenceofdistortions |