Trade Policy and Economic Welfare / Edition 2

Trade Policy and Economic Welfare / Edition 2

by W. Max Corden
     
 

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ISBN-10: 0198775342

ISBN-13: 9780198775348

Pub. Date: 06/26/1997

Publisher: Oxford University Press

The second edition of this classic text on international economics has been substantially revised and updated to take account of the considerable activity in this field over the last two decades. Three new chapters discuss trade policy and the environment, stategic trade policy, and trade policy and the exchange rate; and the many arguments for protection are analysed

Overview

The second edition of this classic text on international economics has been substantially revised and updated to take account of the considerable activity in this field over the last two decades. Three new chapters discuss trade policy and the environment, stategic trade policy, and trade policy and the exchange rate; and the many arguments for protection are analysed in detail.

Product Details

ISBN-13:
9780198775348
Publisher:
Oxford University Press
Publication date:
06/26/1997
Edition description:
REV
Pages:
320
Product dimensions:
6.06(w) x 9.13(h) x 0.67(d)

Table of Contents

Introduction
1(6)
Three Stages of Thought
2(2)
The Scope of the Book
4(2)
Readers' Guide
6(1)
The Theory of Domestic Divergences
7(26)
A Simple Model: Marginal Divergence and the Optimum Subsidy
7(2)
By-product Distortion Effect of Tariff
9(2)
Elaborations of the Simple Analysis
11(3)
The Second-best Optimum Tariff
14(1)
Marginal Divergence in Factor Cost
15(2)
General Equilibrium and Many Commodities
17(1)
Home-market Bias
18(3)
The Hierarchy of Policies
21(2)
Trade Divergences
23(10)
Appendix 2.1: The Theory of Domestic Divergences in Two-product Geometry
26(6)
Appendix 2.2: The Theory of Domestic Divergences: Notes on the Literature
32(1)
The Four Assumptions of the Theory of Domestic Divergences
33(12)
By-product Distortion Costs of Revenue-raising: Subsidies Remain First-best
34(1)
Collection Costs
35(1)
By-product Costs of Revenue-raising: The Need for Trading-off
36(1)
Subsidy Disbursement Costs
37(2)
Income Distribution Effects and the Theory of Domestic Divergences
39(1)
Income Redistribution Not Costless
40(2)
Illusions and an Imperfect World
42(3)
Trade Taxes as Sources of Government Revenue
45(16)
Some Simple Principles of Optimum Taxation
46(3)
The Importance of Collection Costs
49(2)
Smuggling and Underinvoicing
51(2)
The Optimum Tariff Structure: The Marginal Cost of Raising Revenue
53(4)
Export Taxes
57(1)
The Declining Importance of Trade-Tax Revenue in the Process of Economic Development
58(3)
Protection and Income Distribution
61(20)
The Effects of Protection on Income Distribution
61(3)
The Stolper-Samuelson Model
64(8)
The Conservative Social Welfare Function
72(4)
Senescent Industry Protection and Adjustment Assistance
76(2)
Interregional Income Distribution
78(3)
The Terms of Trade Argument For Taxes On Trade
81(24)
The Optimum Trade Tax in the Two-sector Model
82(6)
Multicommodity Model
88(1)
Private Monopoly
89(1)
Foreign Reaction and Retaliation
90(3)
Growth and the Terms of Trade
93(2)
Practical Significance of the Terms-of-trade Argument
95(10)
Appendix 6.1: The Optimum Export Tax and Optimum Tariff
100(5)
Monopoly, Market Structure and Economies of Scale
105(34)
The Effects of Protection on Monopoly Profits
105(6)
Fragmentation of Production
111(3)
Tariffs and Market Structure
114(3)
Made-to-measure Tariffs
117(3)
The X-efficiency Effects of Protection and Monopoly
120(6)
The Rent-seeking Society
126(2)
Dumping
128(11)
The Infant Industry Argument
139(23)
Dynamic Internal Economies
140(6)
Dynamic External Economies
146(5)
The Mill-Bastable Test
151(2)
Wide Application of the Infant Industry Argument
153(1)
The Problem of Investment Coordination
154(2)
Economies of Scale and the Pseudo-Infant Industry Argument
156(2)
Research and Development, and the Protection of Advanced Technology Industries
158(4)
Protection And Capital Accumulation
162(19)
The Real Income Effect of Protection on Savings and Investment
162(3)
Savings and the Income Distribution Effects of Protection
165(2)
Cheap Imported Capital Goods, Investment and Employment
167(7)
Consumption Postponement and the Demonstration Effect
174(1)
The Inducement to Invest and Backward Linkage
175(4)
Learning and the Rate of Growth
179(2)
Some Dynamic Aspects of Trade Policy
181(12)
The Anticipation of Price Changes
182(1)
Fluctuations in Export Earnings
183(2)
Risk Avoidance
185(3)
The Cost of Protection and the Rate of Grwoth
188(2)
The 'Dynamic' Effects of Trade on Knowledge
190(3)
Protection and Foreign Investment
193(22)
The Effect of Protection on Foreign Capital Inflow
194(1)
Taxation of Foreign Investment
195(10)
Tariffs as Second-best Taxes or Subsidies on Foreign Capital
205(2)
The Effects of a Given Tariff System on the Gains or Losses from Foreign Investment
207(1)
Multinational Corporations
208(7)
Optimal Tariff Dismantling
215(7)
Some Tariffs are not Alterable
216(1)
Concertina Method
217(1)
Across-the-Board Reduction
218(1)
Tariff Dismantling and the Exchange Rate
219(3)
The Environment and Trade Policy
222(22)
Trade Liberalization and the Environment: Small Country Case
222(9)
Environmental Policy Interaction: Multicountry Case but no Transborder Pollution
231(5)
Transborder Externalities and Global Public Goods
236(4)
Capital Mobility and Capital Controls
240(2)
Summary: The Role of Trade Policy
242(2)
Strategic Trade Policy
244(18)
Oligopoly and Strategic Trade Policy
244(11)
Industrial Policy
255(3)
Japanese Industrial Policy: What Difference Did It Make?
258(4)
The Exchange Rate, Trade Policy, and the Current Account
262(16)
Trade Liberalization Requires Depreciation
262(1)
The Basic Theory
263(4)
Exchange Rate Protection
267(1)
Capital Inflow and the Real Appreaciation Problem
268(3)
Real Wage Rigidity and a Balance-of-payments Problem
271(2)
How Protection Affects the Current Account
273(2)
The Fixed Exchange Rate Regime: What Role for Protection?
275(2)
Summary
277(1)
Conclusion
278(7)
Bibliography 285(12)
Index of Names 297(2)
Index of Subjects 299

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