Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion

Darren Hudson, Don E. Ethridge and Maria Erlinda M. Mutuc

Estey Centre Journal of International Law and Trade Policy, 2011, vol. 12, issue 01, 15

Abstract: While the elimination of the Multifibre Arrangement (MFA) was presumed to be a net global benefit because it represented an elimination of a distortionary set of trade agreements, it was based on the assumption that the underlying global trading regime was based on free trade principles. However, due to the trading pattern that has emerged after the MFA and its unintended consequences – with production infrastructure and trading rules based on distortionary incentives so entrenched into the system – the global trading regime after the elimination of quotas is still far short of free.

Keywords: Demand and Price Analysis; Industrial Organization; Institutional and Behavioral Economics; International Relations/Trade; Production Economics (search for similar items in EconPapers)
Date: 2011
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https://ageconsearch.umn.edu/record/104063/files/hudsonethridgemutuc12-1.pdf (application/pdf)

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Working Paper: LESSONS LEARNED FROM THE PHASE-OUT OF THE MFAs: MOVING FROM MANAGED DISTORTION TO MANAGED DISTORTION (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ecjilt:104063

DOI: 10.22004/ag.econ.104063

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