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The challenge of Reducing Subsidies and Trade Barriers

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  • Kym Anderson

    ()
    (World Bank)

Abstract

Phasing out distortionary government subsidies and barriers to international trade will yield extraordinarily high benefits relative to any adjustment costs, notwithstanding the considerable reforms that have already taken place over the past two decades. This paper surveys recent estimates, using global economy-wide simulation models, of the benefits of reducing remaining distortions via unilateral reform, multilateral trade negotiations, and preferential trading arrangements. Distortionary trade policies harm most the economies imposing them, but the worst of them (in agriculture and clothing) are particularly harmful to the worldÂ’s poorest people. Opportunities to reduce remaining distortions, including via the WTOÂ’s Doha Development Agenda as compared with sub-global preferential reform, are examined, before drawing out the implications of liberalization for poverty and the environment.

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File URL: http://www.adelaide.edu.au/cies/papers/0412.pdf
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Bibliographic Info

Paper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2004-12.

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Length: 42 pages
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:adl:cieswp:2004-12

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Keywords: Trade policy reform; subsidy reduction; Doha Development Agenda.;

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References

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  1. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  2. John Whalley, 2003. "Assessing the Benefits to Developing Countries of Liberalization in Services Trade," NBER Working Papers 10181, National Bureau of Economic Research, Inc.
  3. Daniel Trefler, 2001. "The Long and Short of the Canada-U.S. Free Trade Agreement," NBER Working Papers 8293, National Bureau of Economic Research, Inc.
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  8. Lionel Fontagné & Jean-Louis Guérin & Sébastien Jean, 2005. "Market Access Liberalisation in the Doha Round: Scenarios and Assessment," The World Economy, Wiley Blackwell, vol. 28(8), pages 1073-1094, 08.
  9. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
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  13. Rae, Allan N. & Strutt, Anna, 2003. "The Current Round of Agricultural Trade Negotiations: Should We Bother About Domestic Support?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 4(2).
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Cited by:
  1. Alvarez, Fernando & Lucas, Robert Jr., 2007. "General equilibrium analysis of the Eaton-Kortum model of international trade," Journal of Monetary Economics, Elsevier, vol. 54(6), pages 1726-1768, September.
  2. Moshirian, Fariborz, 2005. "Global financial markets integration and Millennium Goals," Journal of Multinational Financial Management, Elsevier, vol. 15(4-5), pages 302-313, October.
  3. Jayatilleke S. Bandara, 2007. "The Effects of Agricultural Trade Liberalisation under the Doha Development Agenda with Special Reference to the Asia Pacific Region: A Brief Survey," Working Papers 3107, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
  4. Gawel, Erik & Bernsen, Kristina, 2011. "What is wrong with virtual water trading?," UFZ Discussion Papers 1/2011, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  5. Konov, Joshua Ioji / JK, 2013. "Enhancing Markets (i.e. Economies) Transmissionability to Optimize Monetary Policies’ Effect," MPRA Paper 46950, University Library of Munich, Germany.
  6. Tony Addison, 2010. "Agricultural Development for Peace," Working Papers id:2551, eSocialSciences.
  7. Tony Addison, 2009. "Post-Conflict Recovery: Does the Global Economy Work for Peace?," Working Papers id:2299, eSocialSciences.

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