Immiserizing Growth for a Quota-Distorted Small Economy under Variable Returns to Scale
AbstractThe authors demonstrate that growth of a small open economy distorted by import quotas, in contrast to the case of tariffs, improves welfare when the industries display identical variable (or constant) returns to scale. Furthermore, growth cannot reduce welfare if the industry that experiences technical progress exhibits a greater returns to scale than the static industry. Conversely, if the dynamic sector displays a smaller returns to scale than the static sector, growth of a quota-distorted small economy can be immiserizing. The authors' results are independent of whether Hicks-neutral technical progress occurs in the importable or the exportable sector.
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Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 24 (1991)
Issue (Month): 3 (August)
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Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
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- Beladi, Hamid & Kwan Choi, E., 1995.
"On the emergence of multinational corporations in developing economies: A note,"
Regional Science and Urban Economics,
Elsevier, vol. 25(5), pages 675-684, October.
- Beladi, Hamid & Choi, E. Kwan, 1995. "On the Emergence of Multinational Corporations in Developing Economies: A Note," Staff General Research Papers 5232, Iowa State University, Department of Economics.
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