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Concertina Reforms with International Capital Mobility

  • Kreickemeier, Udo
  • Raimondos-Møller, Pascalis

We show that the standard concertina result for tariff reforms -- i.e. lowering the highest tariff increases welfare -- no longer holds in general if we allow for international capital mobility. The result can break down if the good whose tariff is lowered is not capital intensive. If the concertina reform lowers welfare it lowers market access as well, thereby compromising a second goal that is typically connected with trade liberalisation.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5888.

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Date of creation: Oct 2006
Date of revision:
Handle: RePEc:cpr:ceprdp:5888
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  1. J. Peter Neary, 1997. "Pitfalls in the theory of international trade policy : concertina reform of tariffs, and subsidies to high-technology industries," Working Papers 199726, School of Economics, University College Dublin.
  2. Beghin, John C. & Karp, Larry S., 2001. "Piecemeal Trade Reform in Presence of Producer-Specific Domestic Subsidies," Staff General Research Papers 5381, Iowa State University, Department of Economics.
  3. J. Peter Neary & Frances P. Ruane, 1984. "International capital mobility, shadow prices and the cost of protection," Working Papers 198432, School of Economics, University College Dublin.
  4. James E. Anderson & J. Peter Neary, 2004. "Welfare versus market access : the implications of tariff structure for tariff reform," Working Papers 200423, School of Economics, University College Dublin.
  5. Abe, Kenzo, 1992. "Tariff Reform in a Small Open Economy with Public Production," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(1), pages 209-22, February.
  6. Diewert, W E & Turunen-Red, A H & Woodland, A D, 1991. "Tariff Reform in a Small Open Multi-household Economy with Domestic Distortions and Nontraded Goods," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(4), pages 937-57, November.
  7. Lopez, Ramon & Panagariya, Arvind, 1992. "On the Theory of Piecemeal Tariff Reform: The Case of Pure Imported Intermediate Inputs," American Economic Review, American Economic Association, vol. 82(3), pages 615-25, June.
  8. Ju, Jiandong & Krishna, Kala, 2000. "Welfare and market access effects of piecemeal tariff reform," Journal of International Economics, Elsevier, vol. 51(2), pages 305-316, August.
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