A New Approach to Evaluating Trade Policy
This paper introduces a new index number, the Trade Restrictiveness Index, which measures the restrictiveness of a system of trade protection. The index is a general equilibrium application of the distance function and answers the question: "What uniform set of trade restrictions is equivalent (in welfare terms) to the initial protective structure?" The index is applicable to both tariffs and quotas and permits international and intertemporal comparisons. The index is operational and we provide two empirical examples to illustrate its applicability and to show its superiority to commonly used measures.
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Volume (Year): 63 (1996)
Issue (Month): 1 ()
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- Neary, J Peter, 1995.
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- Falvey, Rodney E., 1988. "Tariffs, quotas and piecemeal policy reform," Journal of International Economics, Elsevier, vol. 25(1-2), pages 177-183, August.
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- Corden, W. Max & Falvey, Rodney E., 1985. "Quotas and the second best," Economics Letters, Elsevier, vol. 18(1), pages 67-70. Full references (including those not matched with items on IDEAS)
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