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Empirical Research on Trade Liberalization With Imperfect Competition: A Survey

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Author Info
J. David Richardson
Abstract

This paper attempts a synthetic census of the calibration/counterfactual style of empirical research on the benefits of trade liberalization with imperfect competition and scale economies. Computable-general-equilibrium studies are surveyed, as are a large number of partial-equilibrium studies in the same style. Microeconomic foundations common to almost all of the studies are discussed algebraically, and the corresponding general-equilibrium structure is discussed graphically. The first typical conclusion from the studies surveyed is that calculated gains in national purchasing power are usually two to three times the size of those estimated in traditional frameworks with perfect competition. Only occasionally are welfare losses calculated from trade liberalization, although such losses are quite possible in theory, as a large recent literature has shown. The second typical conclusion is that calculated adjustment pressures from trade liberalization are considerably higher than implied in most commentary, and higher also than estimates from traditional models. Adjustment pressures describe stimuli for workers to shift activities, for firms to grow or die, for industries to expand or contract, and for trading-partner shares to be altered.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2883.

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Date of creation: Dec 1990
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Handle: RePEc:nbr:nberwo:2883

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  10. Nguyen, T.T & Wigle, R.M., 1988. "Trade Liberalization With Imperfect Competition: The Large And Small Of It," Working Papers 89128, Wilfrid Laurier University, Department of Economics.
  11. Nguyen, T.T & Wigle, R.M., 1988. "Trade Liberalization With Imperfect Competition: The Large And Small Of It," Working Papers 89128, Wilfrid Laurier University, Department of Economics.
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  14. Markusen, James R. & Venables, Anthony J., 1988. "Trade policy with increasing returns and imperfect competition : Contradictory results from competing assumptions," Journal of International Economics, Elsevier, vol. 24(3-4), pages 299-316, May. [Downloadable!] (restricted)
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  15. Smith, Alasdair & Venables, Anthony J., 1988. "Completing the Internal Market in the European Community: Some Industry Simulations," CEPR Discussion Papers 233, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  16. Grossman, G.M. & Helpman, E., 1988. "Product Development And International Trade," Papers 132, Princeton, Woodrow Wilson School - Public and International Affairs.
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  17. Dani Rodrik, 1988. "Imperfect Competition, Scale Economies, and Trade Policy in Developing Countries," NBER Chapters, in: Trade Policy Issues and Empirical Analysis, pages 109-144 National Bureau of Economic Research, Inc. [Downloadable!]
  18. Tybout, James & de Melo, Jamie & Corbo, Vittorio, 1991. "The effects of trade reforms on scale and technical efficiency : New evidence from Chile," Journal of International Economics, Elsevier, vol. 31(3-4), pages 231-250, November. [Downloadable!] (restricted)
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  19. Smith, Alasdair & Venables, Anthony J., 1988. "Counting the Cost of Voluntary Export Restrictions in the European Car Market," CEPR Discussion Papers 249, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  20. Dixit, Avinash K. & Grossman, Gene M., 1986. "Targeted export promotion with several oligopolistic industries," Journal of International Economics, Elsevier, vol. 21(3-4), pages 233-249, November. [Downloadable!] (restricted)
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  21. Brown, Drusilla K., 1987. "Tariffs, the terms of trade, and national product differentiation," Journal of Policy Modeling, Elsevier, vol. 9(3), pages 503-526. [Downloadable!] (restricted)
  22. Shoven, John B & Whalley, John, 1984. "Applied General-Equilibrium Models of Taxation and International Trade: An Introduction and Survey," Journal of Economic Literature, American Economic Association, vol. 22(3), pages 1007-51, September. [Downloadable!] (restricted)
  23. James E. Anderson, 1988. "The Relative Inefficiency of Quotas," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262511789, December.
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  26. Don, H. & Gunasekera, B. H. & Tyers, Rod, 1990. "Imperfect competition and returns to scale in a newly industrialising economy : A general equilibrium analysis of Korean trade policy," Journal of Development Economics, Elsevier, vol. 34(1-2), pages 223-247, November. [Downloadable!] (restricted)
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  29. Venables, Anthony J., 1985. "International Trade, Trade and Industrial Policy and Imperfect Competition: A Survey," CEPR Discussion Papers 74, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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