ISBN: 9780262012201 - Measuring the Restrictiveness of International Trade Policy (3 results)

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Hardcover. Condition: Very Good. Dust Jacket Condition: Good. 1st Edition. Cloth hardcover, xvii + 320 pages, NOT ex-library. Gentle handling wear, some very minor sparse residue of erased pencil marks. Book is clean and bright, untanned, with unmarked text, free of inscriptions and stamps, firmly bound. Good, little-worn dust jacket shows with a couple of edge-nicks and impression marks/indentations. -- This book provides a rigorous theoretical foundation and a practical framework for quantifying the overall restrictiveness of a country's trade policy, moving beyond the flawed, a-theoretical measures commonly used in empirical research. The central contribution is the development of theoretically consistent index numbers that aggregate a complex array of tariffs, quotas, and other barriers into a single, meaningful metric. The authors formulate two primary indexes based on different economic benchmarks: the Trade Restrictiveness Index (TRI), which is the uniform tariff equivalent that would deliver the same level of national welfare (real income) as the actual differentiated trade barriers, and the Mercantilist Trade Restrictiveness Index (MTRI), which is the uniform tariff equivalent that would generate the same total import volume. The analysis is built upon sophisticated dual techniques within a general equilibrium structure, systematically exploring the indexes' properties under various assumptions, including imperfect competition and the presence of non-tariff barriers. The second half of the book is dedicated to demonstrating the practical implementation of these concepts. It presents empirical applications, including calculations of the TRI and MTRI for numerous countries, and examines their use within Computable General Equilibrium (CGE) models. A key finding is the significant divergence, and at times opposite sign, between these theoretically sound indexes and conventional measures like the trade-weighted average tariff, fundamentally challenging the validity of conclusions drawn from using the latter.…

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