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.:
- J. Michael Finger & Ann Harrison, 1994.
"The MFA Paradox: More Protection and More Trade?,"
NBER Working Papers
4751, National Bureau of Economic Research, Inc.
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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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