Export Zones and Welfare: Another Look
In this paper, the authors show that the welfare effects of an export promotion zone can be divided into a factor terms-of-trade effect and a volume-of-trade effect. The first effect raises welfare, whereas the second is uncertain. To date, however, the literature has ignored the factor terms-of-trade effect, thereby creating a bias against export zones. In addition, the authors demonstrate that zones increase welfare for trade regimes that rely on quantitative restrictions. Copyright 1995 by Royal Economic Society.
Volume (Year): 47 (1995)
Issue (Month): 4 (October)
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