Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion
While the elimination of the Multifibre Arrangement (MFA) was presumed to be a net global benefit because it represented an elimination of a distortionary set of trade agreements, it was based on the assumption that the underlying global trading regime was based on free trade principles. However, due to the trading pattern that has emerged after the MFA and its unintended consequences â€“ with production infrastructure and trading rules based on distortionary incentives so entrenched into the system â€“ the global trading regime after the elimination of quotas is still far short of free.
Volume (Year): 12 (2011)
Issue (Month): 1 ()
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Diao, Xinshen & Somwaru, Agapi, 2001. "Impact of the MFA phase-out on the world economy," TMD discussion papers 79, International Food Policy Research Institute (IFPRI).
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"The MFA Paradox: More Protection and More Trade?,"
in: The Political Economy of American Trade Policy, pages 197-260
National Bureau of Economic Research, Inc.
- Peter Walkenhorst, 2004. "Liberalising Trade in Textiles and Clothing: A Survey of Quantitative Studies," International Trade 0401007, EconWPA.
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- Kenneth A. Reinert, 2000. "Give Us Virtue, But Not Yet: Safegaurd Actions Under the Agreement on Textiles and Clothing," The World Economy, Wiley Blackwell, vol. 23(1), pages 25-55, 01.
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