Now available directly from: IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000 Subsidies raise some of the most important and difficult issues of contemporary international economic relations. They are increasingly viewed as a key source of distortions to trade and investment flows and, while important initial steps have been made to bring them under international control, most governments view these efforts as an intrusion into their national sovereignty, and sharp differences remain concerning the nature and legitimacy of various subsidy practices. This book seeks to explain and analyze both the concepts underlying the subsidy problem and the most important of the issues involved. It discusses the various standards used to determine the existence and impact of subsidies in both agricultural and industrial trade, focusing in particular on the highly contentious problems of export credits, tax incentives, and the treatment of developing countries. One section of the book covers domestic subsidies, defining and relating them to international trade and offering proposals on how to deal with them constructively. The book concludes with a series of proposals for improving the ability of the international trading system to deal with problems posed by subsidies. These include more extensive (and perhaps altered) use of countervailing duties, the new concept of countervailing subsidies, and other possible means of handling third country markets. Changes in the existing international regime and in domestic legal structures are recommended to limit the adverse economic and political effects of subsidy practices.

Subsidies in International Trade

Business & Money

Hufbauer, Gary Clyde

Shelton-Erb, Joanna

Economics

Mit Pr

Now available directly from:  IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000  Economic sanctions have become an increasingly central tool of United States foreign policy. Recently, doubts have been raised-both at home and abroad-as to whether sanctions are effective in meeting their avowed foreign policy objectives, or even their domestic policy goals. These concerns, influenced primarily by recent experience with the Soviet grain embargo and pipeline sanctions, have rekindled congressional debate on the use of economic sanctions and have spawned legislative proposals to constrict recourse to such measures in the future.  To address these proposals, this book examines almost a hundred cases where sanctions have been used since World War I, Among them are the League of Nations against Italy in 1935, the Western Alliance against Germany and Japan in the Second World War, the USSR against Yugoslavia in 1948-1955, the United Nations, against Rhodesia and South Africa, the United States against Britain and France over the Suez Canal crisis in 1956, the Arab nations of the Organization of Petroleum Exporting Countries against the United States in 1973, and the recent round of cases mounted by the United States against the Soviet Union.  The book analyzes why sanctions are deployed, what sanctions can achieve, and the costs to both target and sender countries. It then applies lessons from historical experience to the current policy debate, and recommends guidelines for the future use of economic sanctions in pursuit of foreign policy objectives.

Economic Sanctions Reconsidered: History and Current Policy

Schott, Jeffrey J.

Now available directly from:  IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000  Eighty sanctions cases since World War I are reviewed in this monograph. These include Cuba, Rhodesia, Iran, and the recent grain and pipeline cases. Lessons are drawn concerning the limitations and costs of economic and financial sanctions, and the circumstances in which sanctions are likely to achieve the goals of the imposing country. Guidelines are suggested for the future use of sanctions.

Economic Sanctions in Support of Foreign Policy Goals

The open world trading system, which has buttressed postwar prosperity and promoted harmony among nations, is under severe strain. Protectionist pressures and actions are rising in most countries, including the United States, and are eroding support for the trade rules embodied in the General Agreement on Tariffs and Trade (GATT). Some trading nations are beginning to explore the prospects for major new negotiations to deal with these problems and to counter the trend toward further controls. This study explores the substantive issues that should be addressed in the new trade talks, and discusses how those issues could best facilitate successful negotiations. It reviews basic conceptual issues that underlie the GATT system, and includes a strategy for dealing with specific trade problems as well as procedural reforms necessary to make the GATT work better. Particular attention is paid to the structural adjustment needs of industry and agriculture, and to integrating new areas such as services and investment more fully into the GATT system. Now available directly from: IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000

The Next International Trade Negotiations

Schott, Jeffrey

Drawing on rigorous research, this book summarizes the payoffs from globalization past, and presents a roadmap for the future of globalization. History has declared globalization the winner of the 20th century. Globalization connected the world and created wealth unimaginable in the wake of the Second World War. But the financial crisis of 2008-09 has now placed at risk the liberal economic policies behind globalization. Engulfing the entire world, the crisis gave new fuel to the skeptics of the benefits of economic integration. Policy responses seem to favor anti-globalizers. New regulations could balkanize the global financial system, while widespread protectionist impulses might undo the Doha Round. Issues from climate change to national security may be used as convenient excuses to keep imports out, keep jobs at home, and to clamp down on global capital. Will globalization triumph or perish in the 21st century? What reforms make sense in the post-crisis world?
International economists Gary Clyde Hufbauer and Kati Suominen argue that globalization has been a force of great good, one that needs to be actively advanced and honed. Drawing on the latest economic analyses, they reveal the drivers and effects of global finance and trade, lay out the key risks to globalization, and offer a practical policy roadmap for managing the challenges while increasing the gains. Vital reading for anyone in business, finance, foreign affairs, or economics, Globalization at Risk is sure to advance public debate on this defining issue of the 21st century.

Globalization at Risk: Challenges to Finance and Trade

Suominen, Kati

Yale University Press

Now available directly from:  IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000  Subsidies raise some of the most important and difficult issues of contemporary international economic relations. They are increasingly viewed as a key source of distortions to trade and investment flows and, while important initial steps have been made to bring them under international control, most governments view these efforts as an intrusion into their national sovereignty, and sharp differences remain concerning the nature and legitimacy of various subsidy practices.  This book seeks to explain and analyze both the concepts underlying the subsidy problem and the most important of the issues involved. It discusses the various standards used to determine the existence and impact of subsidies in both agricultural and industrial trade, focusing in particular on the highly contentious problems of export credits, tax incentives, and the treatment of developing countries. One section of the book covers domestic subsidies, defining and relating them to international trade and offering proposals on how to deal with them constructively.  The book concludes with a series of proposals for improving the ability of the international trading system to deal with problems posed by subsidies. These include more extensive (and perhaps altered) use of countervailing duties, the new concept of countervailing subsidies, and other possible means of handling third country markets. Changes in the existing international regime and in domestic legal structures are recommended to limit the adverse economic and political effects of subsidy practices.

Shelton, J. R.

International

Peterson Inst for Intl Economics

Economic Sanctions in Support of Foreign Policy Goals (POLICY ANALYSES IN INTERNATIONAL ECONOMICS)

Trade Policy for Troubled Industries (Policy Analyses in International Economics)

Industries

Economic sanctions continue to play an important role in the response to terrorism, nuclear proliferation, military conflicts, and other foreign policy crises. But poor design and implementation of sanctions policies often mean they fall short of their desired effects. This landmark study, first published in 1985, delves into the rich experience of sanctions in the 20th century to harvest lessons on how to use sanctions more effectively. This volume - now conveniently available in a paperback format - is the third and expanded edition of this widely cited study. The authors' unique database on sanctions now covers almost 200 case studies. The analysis is substantially revised to take account of the new challenges facing policymakers since the end of the Cold War and the acceleration of globalization of trade and financial markets. This study is offered in two parts: Economic Sanctions Reconsidered, which summarizes the analysis and outlines the policy recommendations, and Economic Sanctions Reconsidered: Case Histories and Data, a supplemental CD-ROM containing the case studies and new database.

Economic Sanctions Reconsidered

Elliott, Kimberly Ann

This comprehensive study finds that tariffs and quantitative import restrictions in place in 1990 cost American consumers about $70 billion, more than 1 percent of GDP. The net national welfare loss, after deducting tariff revenues and transfers to domestic producers, was $11 billion, of which perhaps 70 percent was captured by foreign producers as quota rents. Nearly half of the consumer costs are accounted for by 21 highly protected sectors, and more than a third, $24 billion, are attributable to textiles and apparel alone. The cost to consumers of "special" protection aside from textiles and apparel dropped sharply in the 1980s, from $15 billion in 1984 to $6 billion in 1990. If it is ratified, the Uruguay Round will result in a further large reduction in these costs, particularly in textiles and apparel. Still, the annual consumer costs per American job "saved" by "special" protection range from $100,000 to over $1 million and average $170,000. Consumers thus pay over six times the average annual compensation of manufacturing workers to preserve each job. In terms of net national welfare, the cost per protected job is about $54,000. This figure far exceeds the cost per worker of the most generous adjustment program entailing income support, retraining, and relocation. This study will be indispensable to public and private sector decision makers and analysts concerned about the very high costs and small benefits of US import barriers. Teachers will find this book an engrossing way to introduce students to the cost of protection calculations that government economists and trade negotiators frequently make.

Measuring the Costs of Protection in the United States

Peterson Institute for International Economics

See the best price to sell, buy, or rent books by Hufbauer, Gary Clyde. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Hufbauer, Gary Clyde

See the best price to sell, buy, or rent books by Hufbauer, Gary Clyde. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Subsidies in International Trade

Economic Sanctions Reconsidered: History and Current Policy

Economic Sanctions in Support of Foreign Policy Goals

The Next International Trade Negotiations

Globalization at Risk: Challenges to Finance and Trade

Subsidies in International Trade

Economic Sanctions in Support of Foreign Policy Goals (POLICY ANALYSES IN INTERNATIONAL ECONOMICS)

Trade Policy for Troubled Industries (Policy Analyses in International Economics)

Economic Sanctions Reconsidered

Measuring the Costs of Protection in the United States