LESSONS LEARNED FROM THE PHASE-OUT OF THE MFAs: MOVING FROM MANAGED DISTORTION TO MANAGED DISTORTION

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

No 96674, Conference Papers from Texas Tech University, Department of Agricultural and Applied Economics

Abstract: The establishment and the eventual phase-out of the Multi-Fiber Arrangements (MFAs) have the potential to offer lessons about managed trade. While many factors have influenced the market outcomes in textiles and clothing (T&C), this paper attempts to distill key elements that can form the foundation of a better understanding of changes in managed trade systems for the future. Filtering past history can be difficult because of the myriad of confounding causal factors that result in observed behavior. Nevertheless, a retrospective can be useful because it passes observations through a prism that can delineate some root causes and consequences. This paper proceeds as follows. First, a brief history of textile and clothing MFAs is presented. Next, some of the unintended consequences of textile trade policy are discussed. Third, the pre-MFA phase-out estimates of impacts and compare those with actual outcomes are summarized. Fourth, an overview of the MFA phase-out and some of the policy responses in the wake (or in conjunction with) the phase-out is provided. Finally, we offer some lessons learned from the MFA removal process and some questions for the future.

Keywords: Agricultural and Food Policy; International Relations/Trade (search for similar items in EconPapers)
Date: 2010-09
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Journal Article: Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ttudco:96674

DOI: 10.22004/ag.econ.96674

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