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...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2005
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| 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 (34 Seiten)) |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:47Z |
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| institution | BVB |
| language | English |
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| spelling | Limao, Nuno Verfasser aut Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization Limao, Nuno Washington, D.C The World Bank 2005 1 Online-Ressource (34 Seiten)) txt rdacontent c rdamedia cr rdacarrier 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 ( Online-Ausg 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 Olarreaga, Marcelo Sonstige oth Limao, Nuno Sonstige oth Limao, Nuno Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3565 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Limao, Nuno Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization 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 |
| title | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization |
| title_auth | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization |
| title_exact_search | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization |
| title_exact_search_txtP | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization |
| title_full | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization Limao, Nuno |
| title_fullStr | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization Limao, Nuno |
| title_full_unstemmed | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization Limao, Nuno |
| title_short | Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization |
| title_sort | trade preferences to small developing countries and the welfare costs of lost multilateral liberalization |
| topic | 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 |
| topic_facet | 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 |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3565 |
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