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Author: Davide Furceri Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 46
Book Description
Are Temporary Trade Barriers (TTBs) introduced for strategic reasons? To answer this question, we construct a novel sectoral measure of retaliation using daily bilateral data on TTB responses in 1220 subsectors across a panel of 25 advanced and emerging market economies over 1989-2019. Stylized facts and econometric analysis suggest that within-year responses are more important in terms of intensity and frequency than commonly understood from the existing literature, which has tended to ignore them. We find that retaliation often consists of responses across many sectors and that same-sector retaliation is far from being the norm. In addition, we find that larger countries tend to retaliate more, and that retaliation is larger during periods of higher unemployment and when the trading partner targeted a domestic comparative advantage sector.
Author: Davide Furceri Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 46
Book Description
Are Temporary Trade Barriers (TTBs) introduced for strategic reasons? To answer this question, we construct a novel sectoral measure of retaliation using daily bilateral data on TTB responses in 1220 subsectors across a panel of 25 advanced and emerging market economies over 1989-2019. Stylized facts and econometric analysis suggest that within-year responses are more important in terms of intensity and frequency than commonly understood from the existing literature, which has tended to ignore them. We find that retaliation often consists of responses across many sectors and that same-sector retaliation is far from being the norm. In addition, we find that larger countries tend to retaliate more, and that retaliation is larger during periods of higher unemployment and when the trading partner targeted a domestic comparative advantage sector.
Author: Publisher: ISBN: Category : Languages : en Pages :
Book Description
With accelerating globalization, many industries have faced continuous pressure from rising importation. In the forest products industry, international trade has been intervened by either a tariff on roundwood or a temporary trade barrier on wood and paper products. In this dissertation, three studies are conducted to examine the patterns and impacts of these tariffs and trade barriers. In the first study, the adoption of antidumping and countervailing duty as a temporary trade barrier on forest products trade is examined. Initially, a two-step sample selection model is employed to identify determinants of trade barrier imposition by all the countries, and additionally, by developing countries as a group. Furthermore, the effects in paper and non-paper products are separately assessed by a probit regression. The results reveal that countries with high gross domestic products per capita can file more investigations than others. For these countries with petitions, they are found to be cautious to employ temporary trade barriers, as their attention shifts from the inefficiencies of domestic firms to unfair trade actions of foreign exporters. In the second study, outcomes of antidumping and countervailing petitions and their determinants are analyzed. The outcomes from preliminary and final investigations are separately evaluated by either a binary logistic model or a multinomial logistic model. The results reveal that more affirmative injury decisions exist if petitions initiated after 2000. Since the U.S. has announced the Byrd Amendment in 2000 to protect domestic firms, the trade environment is competitive. In addition, higher-income countries are associated with less affirmative decisions on petitions because of cooperation and retaliation. In the third study, the interaction between tariffs on roundwood and temporary trade barriers on forest products is assessed. A two-stage partial equilibrium displacement model is applied to measure the vertical linkage between
Author: Xufang Zhang Publisher: ISBN: Category : Languages : en Pages : 131
Book Description
With accelerating globalization, many industries have faced continuous pressure from rising importation. In the forest products industry, international trade has been intervened by either a tariff on roundwood or a temporary trade barrier on wood and paper products. In this dissertation, three studies are conducted to examine the patterns and impacts of these tariffs and trade barriers. In the first study, the adoption of antidumping and countervailing duty as a temporary trade barrier on forest products trade is examined. Initially, a two-step sample selection model is employed to identify determinants of trade barrier imposition by all the countries, and additionally, by developing countries as a group. Furthermore, the effects in paper and non-paper products are separately assessed by a probit regression. The results reveal that countries with high gross domestic products per capita can file more investigations than others. For these countries with petitions, they are found to be cautious to employ temporary trade barriers, as their attention shifts from the inefficiencies of domestic firms to unfair trade actions of foreign exporters. In the second study, outcomes of antidumping and countervailing petitions and their determinants are analyzed. The outcomes from preliminary and final investigations are separately evaluated by either a binary logistic model or a multinomial logistic model. The results reveal that more affirmative injury decisions exist if petitions initiated after 2000. Since the U.S. has announced the Byrd Amendment in 2000 to protect domestic firms, the trade environment is competitive. In addition, higher-income countries are associated with less affirmative decisions on petitions because of cooperation and retaliation. In the third study, the interaction between tariffs on roundwood and temporary trade barriers on forest products is assessed. A two-stage partial equilibrium displacement model is applied to measure the vertical linkage between roundwood and wood/paper products by estimating endogenous prices, quantities, and the change of welfare after imposing trade barriers. Tariffs on roundwood and temporary trade barriers on forest products are found to have a positive total welfare impact. The implementation of temporary trade barriers on forest products brings a higher welfare change than imposing tariffs on roundwood. As joint manufacturing products from the forest products industry, paper and wood products show some degree of substitution.
Author: Thomas O. Bayard Publisher: Peterson Institute for International Economics ISBN: Category : Business & Economics Languages : en Pages : 538
Book Description
Should the United States use retaliatory threats to open foreign markets or deter unfair trading practices? This study reexamines the arguments for and against reciprocity and retaliatory threats in light of actual experience since early 1975, especially the United States' aggressive use of the section 301, special 301, and super 301 provisions of US trade law, which gives the president broad authority to retaliate against "unjustifiable, unreasonable, or discriminatory" foreign trade practices. It analyzes the advantages and disadvantages of these policies and the circumstances under which they are likely to succeed or fail. The study contains an empirical assessment of all section 301 cases concluded between 1975 and 1993. It also provides detailed case studies of various trade conflicts, including the super 301 negotiations involving Japan, Brazil, India, Taiwan, and Korea, financial services disputes with Japan and the European Union, the US-EU conflict over oilseeds, and the US-Japan beef and citrus negotiations. It concludes with an assessment of how the world trading system will change in the aftermath of the Uruguay Round of multilateral negotiations and why it is necessary and desirable for US policy to move from aggressive unilateralism to a strategy of aggressive multilateralism.
Author: Nuno Lim??o Publisher: ISBN: Category : Languages : en Pages :
Book Description
The authors analyze whether financial compensation is preferable to the current system of dispute settlement in the World Trade Organization that permits member countries to impose retaliatory tariffs in response to trade violations committed by other members. They show that monetary fines are more efficient than tariffs in terms of granting compensation to injured parties when there are violations in equilibrium. However, fines suffer from an enforcement problem since they must be paid by the violating country. If fines must ultimately be supported by the threat of retaliatory tariffs, they fail to yield a more cooperative outcome than the current system. The authors also consider the use of bonds as a means of settling disputes. If bonds can be posted with a third party, they do not have to be supported by retaliatory tariffs and can improve the negotiating position of countries that are too small to threaten tariff retaliation.
Author: Chad P. Bown Publisher: Centre for Economic Policy Research ISBN: 9781907142383 Category : Business & Economics Languages : en Pages : 469
Book Description
This volume provides empirical details of how the import protection landscape changed alongside the events of the 2008-9 economic crisis.
Author: E. Kwan Choi Publisher: Wiley-Blackwell ISBN: 1405142421 Category : Business & Economics Languages : en Pages : 576
Book Description
This handbook is a detailed exploration of the theories, policies, and issues stemming from the field of International Trade. Written by specialists in the field, the chapters focus on four important areas: factor proportions theory, trade policy, investment, and new trade theory. The extensive analysis covers such topics as the Heckscher-Ohlin Trade Model and the Stolper-Samuelson Price Link, as well as wages, antidumping, and political economics. Explores the theories, policies and issues stemming from the field of International Trade. Focuses on factor proportions theory, trade policy, investment, and new trade theory. Includes analyses of the Heckscher-Ohlin Trade Model and the Stolper-Samuelson Price link.
Author: William Phelan Publisher: ISBN: 0198712790 Category : Business & Economics Languages : en Pages : 225
Book Description
Unlike many other trade regimes, the European Union forbids the use of inter-state retaliation to enforce its obligations, and rules out the use of common 'escape' mechanisms such as anti-dumping between the EU member states. How does the EU do without these mechanisms that appear so vital to the political viability of other international trade regimes, including the World Trade Organization? How, therefore, is the European legal order, with the European Court of Justice at its centre, able to be so much more binding and intrusive than the legal obligations of many other trade regimes? This book puts forward a new explanation of a key part of the European Union's legal system, emphasising its break with the inter-state retaliation mechanisms and how Europe's special form of legal integration is facilitated by intra-industry trade, parliamentary forms of national government, and European welfare states. It argues first that the EU member states have allowed the enforcement of EU obligations by domestic courts in order to avoid the problems associated with enforcing trade obligations by constant threats of trade retaliation. It argues second that the EU member states have been able to accept such a binding form of dispute settlement and treaty obligation because the policy adjustments required by the European legal order were politically acceptable. High levels of intra-industry trade reduced the severity of the economic adjustments required by the expansion of the European market, and inclusive and authoritative democratic institutions in the member states allowed policy-makers to prioritise a general interest in reliable trading relationships even when policy changes affected significant domestic lobbies. Furthermore, generous national social security arrangements protected national constituents against any adverse consequences arising from the expansion of European law and the intensification of the European market. The European legal order should therefore be understood as a legalized dispute resolution institution well suited to an international trade and integration regime made up of highly interdependent parliamentary welfare states.
Author: Richard E. Baldwin Publisher: ISBN: 9781907142239 Category : Business & Economics Languages : en Pages : 112
Book Description
The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.
Author: Douglas A. Irwin Publisher: University of Chicago Press ISBN: 022639901X Category : Political Science Languages : en Pages : 873
Book Description
A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Author: Davide Furceri
Author: Davide Furceri
Author: 
Author: Xufang Zhang
Author: Thomas O. Bayard
Author: Nuno Lim??o
Author: Chad P. Bown
Author: E. Kwan Choi
Author: William Phelan
Author: Richard E. Baldwin
Author: Douglas A. Irwin