The Case Against Tariff Compensation
Should lightly protected industries be given tariff compensation? Reasonable people can and do differ on this issue; neither the case supporting tariff compensation nor that opposing it is fully conclusive. Nevertheless, it is the purpose of this paper to argue that, on balance, the stronger argument is on the negative side. It is argued that economists in particular should focus their limited influence on recommending tariff reductions rather than tariff compensation, but that even if this fails they should be most reluctant to recommend tariff compensation. The potential benefits from tariff compensation are small relative to the gains from tariff reduction but the informational problems of tariff compensation are such as to make even these small potential benefits unlikely in practice.
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Volume (Year): 22 (1978)
Issue (Month): 2-3 (08-12)
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References listed on IDEAS
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.:
- Lloyd, Peter J., 1975. "Tariff Compensation: An Undesirable Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(03), December.
- Warr, Peter G, 1977. "Tariff Compensation via Input Subsidies," The Economic Record, The Economic Society of Australia, vol. 53(144), pages 508-16, December.
- Harris, Stuart, 1975. "Tariff Compensation: Sufficient Justification For Assistance To Australian Agriculture?," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(03), December.
- Warr, Peter G, 1977. "Shadow Pricing with Policy Constraints," The Economic Record, The Economic Society of Australia, vol. 53(142&143), pages 149-66, June-Sept.
- Kym Anderson, 1978.
"On Why Rates Of Assistance Differ Between Australia'S Rural Industries,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 99-114, 08-12.
- Anderson, Kym, 1978. "On Why Rates Of Assistance Differ Between Australia'S Rural Industries," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 22(02-03).
- Richard E. Caves, 1976. "Economic Models of Political Choice: Canada's Tariff Structure," Canadian Journal of Economics, Canadian Economics Association, vol. 9(2), pages 278-300, May.
- Warr, Peter G, 1979. "Tariff Compensation without Omniscience," The Economic Record, The Economic Society of Australia, vol. 55(148), pages 20-32, March.
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