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Policy externalities: how U.S. antidumping affects Japanese exports to the EU

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Author Info
Chad P. Bown
Meredith Crowley

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Abstract

This paper investigates the international externalities associated with US use of antidumping (AD) measures by examining the relationship between US AD duties (ADDs) and Japanese exports to the US and EU over the 1992-2001 period. We first examine the trade destruction and trade diversion associated with Japanese exports to the US market resulting from US AD duties. We then investigate whether US ADDs impose externalities on a non- targeted third country by examining the effect of these US policies on Japanese exports to the EU. We document sizable trade deflection and trade depression in the EU market resulting from US ADDs. Model estimates indicate that, on average, roughly one quarter to one third of the value of Japanese exports to the US thought to be destroyed by a US ADD is actually deflected to the EU in the form of a contemporaneous increase in exports. Finally, we present evidence that US ADDs impose terms-of-trade externalities on non-targeted markets. We find that US duties on Japanese exports are associated with substantially lower Japanese export prices in the EU market.

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Paper provided by Federal Reserve Bank of Chicago in its series Working Paper Series with number WP-04-12.

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Date of creation: 2004
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Handle: RePEc:fip:fedhwp:wp-04-12

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Keywords: Antidumping duties Exports Trade

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  2. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  3. Petros C. Mavroidis & Kyle Bagwell & Robert W. Staiger, 2004. "The case for tradable remedies in WTO dispute settlement," Discussion Papers 0405-05, Columbia University, Department of Economics. [Downloadable!]
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  4. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-50, September. [Downloadable!] (restricted)
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  5. Pinelopi Koujianou Goldberg & Giovanni Maggi, 1999. "Protection for Sale: An Empirical Investigation," American Economic Review, American Economic Association, vol. 89(5), pages 1135-1155, December. [Downloadable!] (restricted)
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  6. Messerlin, Patrick A & Reed, Geoffrey, 1995. "Antidumping Policies in the United States and the European Community," Economic Journal, Royal Economic Society, vol. 105(433), pages 1565-75, November. [Downloadable!] (restricted)
  7. Blonigen, Bruce A. & Bown, Chad P., 2003. "Antidumping and retaliation threats," Journal of International Economics, Elsevier, vol. 60(2), pages 249-273, August. [Downloadable!] (restricted)
  8. Thomas J. Prusa, 2001. "On the spread and impact of anti-dumping," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 591-611, August. [Downloadable!] (restricted)
  9. Kyle Bagwell & Petros C. Mavroidis & Robert W. Staiger, 2003. "The Case for Auctioning Countermeasures in the WTO," NBER Working Papers 9920, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Chad P. Bown, 2004. "On the Economic Success of GATT/WTO Dispute Settlement," The Review of Economics and Statistics, MIT Press, vol. 86(3), pages 811-823, 05. [Downloadable!] (restricted)
  11. Bagwell, Kyle & Staiger, Robert W, 1990. "A Theory of Managed Trade," American Economic Review, American Economic Association, vol. 80(4), pages 779-95, September. [Downloadable!] (restricted)
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  12. Choi, E Kwan & Harrigan, James, 2004. "Handbook of International Trade," Staff General Research Papers 11375, Iowa State University, Department of Economics.
  13. Kyle Bagwell & Robert W. Staiger, 1999. "An Economic Theory of GATT," American Economic Review, American Economic Association, vol. 89(1), pages 215-248, March. [Downloadable!] (restricted)
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  14. Davis, Steven J & Haltiwanger, John C, 1992. "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 819-63, August. [Downloadable!] (restricted)
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  15. Chad P. Bown, 2004. "Developing Countries as Plaintiffs and Defendants in GATT/WTO Trade Disputes," The World Economy, Blackwell Publishing, vol. 27(1), pages 59-80, 01. [Downloadable!] (restricted)
  16. repec:att:wimass:1920314 is not listed on IDEAS
  17. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January. [Downloadable!] (restricted)
  18. Konings, Jozef & Springael, Linda & Vandenbussche, Hylke, 2001. "Import Diversion under European Antidumping Policy," CEPR Discussion Papers 2785, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  1. Vandenbussche, Hylke & Zarnic, Ziga, 2007. "Did US Safeguards Affect Mark-ups of EU Steel Producers?," CEPR Discussion Papers 6486, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Petros C. Mavroidis & Kyle Bagwell & Robert W. Staiger, 2004. "The case for auctioning countermeasures in the WTO," Discussion Papers 0405-08, Columbia University, Department of Economics. [Downloadable!]
    Other versions:
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