International Capital Mobility and the Costs of U.S. Import Restraints
AbstractThis paper evaluates general equilibrium welfare effects of tariffs, quotas, and voluntary export restraints under different assumptions about international capital mobility. We show analytically that, when induced terms-of-trade and rental-rate effects are considered, the qualitative influence of capital mobility on the costs of protection cannot be ascertained unambiguously. simulation estimates for the U.S. indicate the practical importance of capital mobility, as well as of terms-of-trade and rental-rate adjustments, in determining the ultimate welfare effects on import restraints. Copyright 1993 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of International Economics.
Volume (Year): 1 (1993)
Issue (Month): 3 (October)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0965-7576
Other versions of this item:
- de Melo, Jaime & Roland-Holst, David, 1990. "International capital mobility and the costs of U.S. import restraints," Policy Research Working Paper Series 516, The World Bank.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Neary, J Peter, 1985. "International Factor Mobility, Minimum Wage Rates, and Factor-Price Equalization: A Synthesis," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 100(3), pages 551-70, August.
- Jones, Ronald W., 1984. "Protection and the harmful effects of endogenous capital flows," Economics Letters, Elsevier, Elsevier, vol. 15(3-4), pages 325-330.
- Brecher, Richard A. & Diaz Alejandro, Carlos F., 1977. "Tariffs, foreign capital and immiserizing growth," Journal of International Economics, Elsevier, Elsevier, vol. 7(4), pages 317-322, November.
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