Tariff Reform: Some Pre-strategic Considerations
We consider the implications of improving on GATT/WTO tariff negotiations both the most-favoured-nation (MFN) clause and the twin Paretian rules (that negotiations leave the trading world on its efficiency locus and each participating country in a preferred position). It is shown that the set of tariff reforms that satisfy both rules (a) is always non-empty, (b) might include no reforms that end in world-wide free trade, (c) always includes reforms that are incompatible with free trade and (d) might include reforms that support a Pareto-optimal and Pareto-improving allocation but also support other allocations with neither of those characteristics.
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- Grinols, Earl L., 1981. "An extension of the Kemp-Wan theorem on the formation of customs unions," Journal of International Economics, Elsevier, vol. 11(2), pages 259-266, May.
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