Theory of Commercial Policy: Trade and Protection

Business & Money

Michaely, Michael

Economics

Univ of Chicago Pr

The proposition that liberalized trade is superior to a regime of controls and protection is a "comparative statics" statement. Both a priori analysis and past empirical research provide only little understanding of the process of trade liberalization, or guidance for the design of policy implementation. The study "Liberalizing Foreign Trade" is designed to fulfill this role. Starting from a regime of protection, alternative paths of policy change towards a liberalized regime may be conceived. Some of these are preferable to others: they lead to lower transition costs, and to a higher probability of accident if the most promising path is identical in any two cases. Yet, crucial elements determining it may be expected to be common to a sufficiently large number of countries to make feasible the identification of general principles governing such a path. The present comparative study aims to do that through the investigation of almost all liberalization experiences in the developing world from the early 1950s to the mid 1980s. A set of crucial issues is posed, such as: what is the appropriate speed and intensity of liberalization? Is it tariffs? Should a liberalization start with export promotion? What are the appropriate circumstances for the introduction of liberalization? On what pattern of performance of the economy is the fate of liberalization likely to hinge? Or, what is the role of accompanying policies? The analysis of each individual country experience often yields useful insights and clues for these and similar issues. It is self-contained, and serves as a contribution to the study of an important policy area in the country concerned. Beyond that, an overall synthesis volume utilizes the evidence which emerges from the variety of country experiences to reveal the attributes of a successful liberalization and suggest guide-lines for the design of a trade liberalization.

Liberalizing Foreign Trade: The Experience of Argentina, Chile and Uruguay: Volume 1

Choksi, Armeane M.

Blackwell Pub.

This work consists of the results of a detailed analysis undertaken by the World Bank in order to find out how to achieve the benefits of open trading through liberalization policies. The results of the work are published in eight volumes, two each for each of the three major regions, (Latin America, Asia and Pacific and Mediterranean) plus a volume synthesising the results and acting as a manual of trade liberalization.

Liberalizing Foreign Trade: The Experience of Korea, the Philippines and Singapore (Liberalizing Foreign Trade Series)

Book by Choksi, Armeane M., Michaely, Michael

Liberalizing Foreign Trade: The Experience of Israel and Yugoslavia (Liberalizing Foreign Trade Series): Volume 3

Liberalizing Foreign Trade: The Experience of Brazil, Columbia and Peru (Liberalizing Foreign Trade Series): Volume 4

Papageorgiou, Demetris

This work consists of the results of a detailed analysis undertaken by the World Bank in order to find out how to achieve the benefits of open trading through liberalization policies. The results of the work are published in eight volumes.

Liberalizing Foreign Trade: The Experience of Indonesia, Pakistan, and Sri Lanka: Volume 5

Over the past five years, the World Bank has undertaken a major project looking at how to achieve the benefits of open trading through liberalization policies. This has involved very detailed analysis of the experience of nineteen countries to uncover the fundamental principles by which governments can achieve neutrality in their countries' trading systems and the demonstrable advantages of an international free market economy. The results of the work are published in seven volumes, two each for each of the three major regions (Latin America, Asia and Pacific and Mediterranean) plus a volume synthesising the results and acting as a manual of trade liberalization.

Liberalizing Foreign Trade: The Experience of Spain, New Zealand and Turkey: 006

Liberalizing Foreign Trade: Lessons of Experience in the Developing World (Liberalizing Foreign Trade Series): Volume 7

This text addresses two major issues of international trade policy: trade liberalization and preferential trade agreements - paying particular attention to the inter-relationships of the two. In doing so, Michaely raises timely new questions which he believes to date have been neglected or insufficiently analysed. The work combines a theoretical analysis, a development of instruments for both ex-ante and ex-post assessment of the impact of the policies under review, and an application to particular experiences in the less-developed world over two decades.

Trade Liberalization and Trade Preferences

Ashgate Pub Ltd

Theory of commercial policy: Trade and protection

P.Allan

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