Simulated optimum tariff policies to achieve plausible government targets show objective reasons for the failure of international trade cooperation during the Slump of 1929 to 1933. For the largest players, the US and UK, benefits from foreign cooperation were small or negative. France and Germany would have been the principal beneficiaries of international cooperative policies. Since cooperation on one issue, tariffs, was difficult, cooperation on many through the cross-issue bargaining attempted at the 1933 London Conference- was well nigh impossible. Optimum coordination across policy instruments within one country, on the other hand, would have yielded high returns for policy. A corollary is that lack of internal coordination (poor domestic policies) was a more important cause of the Great Depression than failure to harmonise policies internationally.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Volume (Year): 11 (2007) Issue (Month): 01 (April) Pages: 73-98 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF