Market Disturbances and the Multifibre Arrangement

Gary P. Sampson

Chapter 4 in Issues in World Trade Policy, 1986, pp 61-92 from Palgrave Macmillan

Abstract: Abstract In any economy, during the normal process of economic growth and structural change, markets are continually disturbed. When disturbances occur, however, specific production units within the economy will be affected — probably ‘damaged’ or ‘injured’. In national and international rules and procedures, there is no shortage of provisions to protect producer interests. In these provisions, however, there is very rarely any recognition that protection of producers imposes costs on other groups, nor is there an apparent awareness that such intervention may serve to unduly retard the process of structural adjustment and impose long-term costs on the economy.1 In many of the arrangements there is a lack of respect for simple economic principles, with a very narrow perception of who is to be protected from injury.

Keywords: Textile Product; Trade Liberalisation; Structural Adjustment; Small Supplier; Clothing Product (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08636-8_4

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DOI: 10.1007/978-1-349-08636-8_4

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