PROTECTION AND REAL REWARDS: SOME ANTINOMIES

Brati Sankar Chakraborty

Pacific Economic Review, 2009, vol. 14, issue 1, 56-70

Abstract: Abstract. This paper develops a model with an increasing returns to scale sector and complementarities in production. It is shown that under a particular protectionist regime, the factor specific to the unprotected sector(s) might gain, along with the factor specific to the protected sector. Under such a regime the mobile factor is most severely hurt. Under another protectionist regime, it is shown that both the specific factors (even the factor specific to the protected sector(s)) might lose and the mobile factor gains unambiguously. Both these cases are in stark conflict with the conventional wisdom associated with the specific factors model.

Date: 2009
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https://doi.org/10.1111/j.1468-0106.2009.00435.x

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