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A Model of Politics, Tariffs and Rent-seeking in General Equilibrium

In: Human Resources, Employment and Development

Author

Listed:
  • Stephen P. Magee
  • William A. Brock

Abstract

This paper adapts earlier work by Brock and Magee to tariff formation and rent-seeking in the general equilibrium model of international trade.2 We show how a political sector with two lobbies, two political parties, and two endogenous commercial policies (a tariff and an export subsidy) can be added to the standard ‘two by two’ pure trade theory model. In doing so we incorporate elements of Krueger’s theory of rent-seeking; Stigler’s and Tulloch’s approach to public-choice theory; Olson’s analysis of rent-seeking lobbies; Baldwin’s political determinants’ approach to commercial policy formulation; and the Marx and Stolper-Samuelson approach to the conflict between capital and labour over the distribution of income.3 For other important works in this area the reader should consult Findlay and Wellisz and Bhagwati and Srinivasan.4 In this paper, rent-seeking is defined as the attempt to increase one’s economic welfare by political means.

Suggested Citation

  • Stephen P. Magee & William A. Brock, 1983. "A Model of Politics, Tariffs and Rent-seeking in General Equilibrium," International Economic Association Series, in: Burton Weisbrod & Helen Hughes (ed.), Human Resources, Employment and Development, chapter 31, pages 497-523, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-22741-9_31
    DOI: 10.1007/978-1-349-22741-9_31
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    Citations

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    Cited by:

    1. Henning, Christian H.C.A. & Glauben, Thomas & Wald, Andreas, 2000. "Die Europäische Agrarpolitik im Spannungsfeld von Osterweiterung und WTO-Verhandlungen," FE Working Papers 0005, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    2. Amelung, Torsten, 1988. "The political economy of import substitution and subsequent trade liberalization: The case of Turkey," Kiel Working Papers 330, Kiel Institute for the World Economy (IfW Kiel).
    3. Henning, Christian H.C.A. & Glauben, Thomas & Wald, Andreas, 2001. "Die Europäische Agrarpolitik im Spannungsfeld von Osterweiterung und WTO-Verhandlungen," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 50(03), pages 1-6.
    4. Gersbach, Hans, 1998. "Communication skills and competition for donors," European Journal of Political Economy, Elsevier, vol. 14(1), pages 3-18, February.

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