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The effects of trade reforms on scale and technical efficiency : new evidence from Chile

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Author Info
Tybout, James
de Melo, Jaime
Corbo, Vittorio

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Abstract

This paper shows how the industrial structure and performance changed after Chile's dramatic trade liberalization. A comparison of the 1967 and 1979 censuses shows little improvement in productivity overall, but these figures don't separate the effects of trade liberalization from the effects of recession, high interest rates, and real appreciation. To isolate the effects of trade liberalization, the authors compared industries in which protection was significantly reduced with industries in which it was not. It was found that of the industries for which protection was lifted, the smallest plants tended to expand output more. Cross-plant estimates of returns to scale dropped significantly. These findings are consistent with the view that exposure to foreign competition forces suboptimally small producers toward minimally efficient scale. Also, production levels became higher and more uniform across plants in those industries undergoing dramatic reductions in protection. Taken together, these results support the received wisdom that increased exposure to trade improves competition within an industry.

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Publisher Info
Paper provided by The World Bank in its series Policy Research Working Paper Series with number 481.

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Date of creation: 31 Aug 1990
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Handle: RePEc:wbk:wbrwps:481

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Related research
Keywords: Economic Theory&Research; Environmental Economics&Policies; Banks&Banking Reform; Health Monitoring&Evaluation; Water and Industry;

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  1. James Tybout, 1988. "The Algebra Of Inflation Accounting," International Economic Journal, Korean International Economic Association, vol. 2(2), pages 83-100, June. [Downloadable!] (restricted)
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