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Modeling trade policies under alternative market structures

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  • Anania, Giovanni
  • Scoppola, Margherita

Abstract

The paper focuses on the importance of assumptions made about market structure and firm behavior in empirical trade policy analysis. The contribution to the relevant literature is 3-fold: first the paper develops two original models which incorporate imperfectly competitive market structures in a spatial modeling framework; then it proposes a procedure to identify the degree of market power in international trading which is consistent with observed prices and traded quantities, and applies it to the banana market; finally, it assesses how analysis of the implications of recent changes in the EU import regimes for bananas (the Economic Partnership Agreements and the December 2009 WTO agreement) is affected by the assumptions made on the prevailing market structure.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 36 (2014)
Issue (Month): 1 ()
Pages: 185-206

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Handle: RePEc:eee:jpolmo:v:36:y:2014:i:1:p:185-206

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Web page: http://www.elsevier.com/locate/inca/505735

Related research

Keywords: Spatial models; Imperfect competition; Bananas; Economic Partnership Agreements; WTO;

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References

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  1. Bernardo S. Blum & Sebastian Claro & Ignatius Horstmann, 2010. "Facts and Figures on Intermediated Trade," American Economic Review, American Economic Association, vol. 100(2), pages 419-23, May.
  2. Richard J. Sexton & Ian Sheldon & Steve McCorriston & Humei Wang, 2007. "Agricultural trade liberalization and economic development: the role of downstream market power," Agricultural Economics, International Association of Agricultural Economists, vol. 36(2), pages 253-270, 03.
  3. Perloff,Jeffrey M. & Karp,Larry S. & Golan,Amos, 2007. "Estimating Market Power and Strategies," Cambridge Books, Cambridge University Press, number 9780521011143, April.
  4. Soregaroli, Claudio & Sckokai, Paolo & Moro, Daniele, 2011. "Agricultural policy modelling under imperfect competition," Journal of Policy Modeling, Elsevier, vol. 33(2), pages 195-212, March.
  5. Yang, Chin W. & Hwang, Ming J. & Sohng, Soong N., 2002. "The Cournot competition in the spatial equilibrium model," Energy Economics, Elsevier, vol. 24(2), pages 139-154, March.
  6. Steve McCorriston, 2002. "Why should imperfect competition matter to agricultural economists?," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 29(3), pages 349-371, July.
  7. Satish Y. Deodhar & Ian M. Sheldon, 1995. "Is Foreign Trade (Im)Perfectly Competitive?: An Analysis Of The German Market For Banana Imports," Journal of Agricultural Economics, Wiley Blackwell, vol. 46(3), pages 336-348.
  8. Anania, Giovanni, 2010. "EU Economic Partnership Agreements and WTO negotiations. A quantitative assessment of trade preference granting and erosion in the banana market," Food Policy, Elsevier, vol. 35(2), pages 140-153, April.
  9. Andrew B. Bernard & J. Bradford Jensen & Stephen Redding & Peter K. Schott, 2010. "Wholesalers and Retailers in U.S. Trade (Long Version)," CEP Discussion Papers dp0968, Centre for Economic Performance, LSE.
  10. Guyomard, Herve & Laroche, Catherine & Le Mouel, Chantal, 1999. "An economic assessment of the Common Market Organization for bananas in the European Union," Agricultural Economics, Blackwell, vol. 20(2), pages 105-120, March.
  11. Steve McCorriston, 2000. "Market Structure Issues and the Evaluation of the Reform of the EU Banana Regime," The World Economy, Wiley Blackwell, vol. 23(7), pages 923-937, 07.
  12. Andrew B. Bernard & J. Bradford Jensen & Stephen Redding & Peter K. Schott, 2010. "Wholesalers and retailers in US Trade," LSE Research Online Documents on Economics 28614, London School of Economics and Political Science, LSE Library.
  13. McCorriston, Steve & Sheldon, Ian M, 1996. "The Effects of Vertical Markets on Trade Policy Reform," Oxford Economic Papers, Oxford University Press, vol. 48(4), pages 664-72, October.
  14. Paris, Quirino & Drogué, Sophie & Anania, Giovanni, 2011. "Calibrating spatial models of trade," Economic Modelling, Elsevier, vol. 28(6), pages 2509-2516.
  15. Giovanni Anania, 2006. "The 2005 WTO arbitration and the new EU import regime for bananas: a cut too far?," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 33(4), pages 449-484, December.
  16. Shang-Jin Wei & Jaebin Ahn & Amit K. Khandelwal, 2010. "The Role of Intermediaries in Facilitating Trade," Working Papers id:2557, eSocialSciences.
  17. Hoque, Mohammad Mainul & Schroeter, John R., 2010. "Agricultural Trade Liberalization and Downstream Market Power: The Ad Valorem Case," Staff General Research Papers 32163, Iowa State University, Department of Economics.
  18. Deodhar, Satish Y. & Sheldon, Ian M., 1996. "Estimation Of Imperfect Competition In Food Marketing: A Dynamic Analysis Of The German Banana Market," Journal of Food Distribution Research, Food Distribution Research Society, vol. 27(3), October.
  19. Xavier Vives, 2001. "Oligopoly Pricing: Old Ideas and New Tools," MIT Press Books, The MIT Press, edition 1, volume 1, number 026272040x, December.
  20. Kersten, Lutz, 1995. "Impacts of the EU Banana Market Regulation on International Competition, Trade and Welfare," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 22(3), pages 321-35.
  21. Tsunemasa Kawaguchi & Nobuhiro Suzuki & Harry M. Kaiser, 1997. "A Spatial Equilibrium Model for Imperfectly Competitive Milk Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 851-859.
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