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Trade adjustment policies and income distribution in three archetype developing economies

Listed author(s):
  • de Melo, Jaime
  • Robinson, Sherman

This paper explores quantitatively the macroeconomic and distributional impacts on non-oil producing, semi-industrial developing countries of external shocks originating in the world economy—in particular, rising costs of imports and shrinking export markets. The empirical analysis is done with a computable general equilibrium (CGE) model. The effects of the same external shock are modelled for three different archetype economies: a primary exporter, a manufacturing exporter, and a closed economy. Three different policy-adjustment regimes are considered: devaluation, premium rationing of imports (import licenses), and premium rationing in an environment with a fixed real wage for unskilled labor. By making simple assumptions about the way socioeconomic groups operate to influence decision-making, the paper also examines how the struggle between the gainers and losers is likely to affect the policy regime to be chosen.
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Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 10 (1982)
Issue (Month): 1 (February)
Pages: 67-92

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Handle: RePEc:eee:deveco:v:10:y:1982:i:1:p:67-92
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