Tariffication of a Distorted Economy: A CGE Analysis
William Kaempfer (),
Martin T Ross and
Thomas Rutherford ()
Review of Development Economics, 1997, vol. 1, issue 2, 207-18
This paper examines the consequences of the tariffication of a quota when there are several potential distortions present in a country, including domestic monopoly and wage rigidities. it is generally presumed that tariffs are superior to quotas because of their transparency and revenue-raising attributes. However, in the presence of multiple distortions, liberalization of a single policy instrument may result in net welfare losses. The findings suggest that, in a general equilibrium context, such a liberalization policy will have ambiguous effects upon aggregate domestic welfare in the country undertaking the tariffication. Copyright 1997 by Blackwell Publishing Ltd
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