Trade Reform Dynamics and Technical Efficiency: The Peruvian Experience
Markets around the world are becoming more competitive because of changing operating and regulatory environments. One such change--the loosening of trade restrictions--is a macroeconomic policy shift that should have a microeconomic impact on industrial efficiency. Specifically, competitive pressure should discipline or eliminate inefficient producers. This article explores whether or not there is such a dynamic link. It uses a previously unexploited data set to gauge the impact of the 1990 Peruvian reform on plant-level technical efficiency. The results support the argument that the degree of protection and the level of efficiency are inversely related. Copyright 2000 by Oxford University Press.
Volume (Year): 14 (2000)
Issue (Month): 2 (May)
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