Assessing the Effects of the MFA/ATC from US and World Trade Data after Its Removal

Daqing Yao and John Whalley

No 21299, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this paper we assess the effects of the MFA/ATC using both world trade and US data after its removal. Previous literature assesses its effects while in operation. The trade data we analyze are consistent with theoretical predictions of more trade volumes, lower product prices, smaller effect of RTA on trade, less transshipment and quota hopping investment, and higher country concentration of exporters. We also find the effects of the MFA on clothing trade were more significant than for textiles trade. The benefits from freer trade in textiles and clothing shed light on other sectors that are still under trade protection.

JEL-codes: F13 F14 F68 (search for similar items in EconPapers)
Date: 2015-06
New Economics Papers: this item is included in nep-int
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