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Rent Sharing In The Multi-Fibre Arrangement: Theory And Evidence From Us Apparel Imports From Hong Kong

Author

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  • KRISHNA, K.
  • ERZAN, R.
  • TAN, L.H.

Abstract

Available estimates of tariff equivalents and welfare costs of MFA quotas are based on the premise of perfect competition in both product and license markets, and the assumption that exporting countries receive all the scarcity rent. We test if U.S. apparel imports from Hong-Kong conform with this competitive model by looking at whether the license-price-inclusive Hong Kong price, adjusted for tariffs and transport costs, is equal to the U.S. price. We deal with the homogeneous product case and correct for both aggregation and quality differences. We find that U.S. importers seem to retain a substantial portion of the quota rents. Copyright 1994 by Blackwell Publishing Ltd.
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Suggested Citation

  • Krishna, K. & Erzan, R. & Tan, L.H., 1991. "Rent Sharing In The Multi-Fibre Arrangement: Theory And Evidence From Us Apparel Imports From Hong Kong," Harvard Institute of Economic Research Working Papers 1549, Harvard - Institute of Economic Research.
    • Handle: RePEc:fth:harver:1549
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    Cited by:

    1. Hervé Guyomard & Catherine Laroche & Chantal Le Mouël, 1998. "Contingent à l'importation et formation du prix des droits à importer en concurrence imparfaite : le cas de l'Organisation Commune de Marché de la banane dans l'Union européenne," Post-Print hal-01594045, HAL.
    2. Anderson, James E., 1997. "Revenue Neutral Trade Reform with Many Households, Quotas and Tariffs," Seminar Papers 626, Stockholm University, Institute for International Economic Studies.
    3. Walmsley, Terrie L. & Hertel, Thomas W. & Ianchovichina, Elena, 2001. "Assessing the Impact of China’s WTO Accession on Foreign Ownership," Conference papers 330941, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    4. James E. Anderson, 2002. "Trade Reform Diagnostics with Many Households, Quotas, and Tariffs," Review of International Economics, Wiley Blackwell, vol. 10(2), pages 215-236, May.
    5. Erzan, Refik & Holmes, Christopher, 1992. "The restrictiveness of the multi-fibre arrangement on Eastern European trade," Policy Research Working Paper Series 860, The World Bank.
    6. Silva, Peri, 2011. "The role of importers and exporters in the determination of the U.S. tariff preferences granted to Latin America," Journal of Development Economics, Elsevier, vol. 94(2), pages 207-219, March.
    7. Lahiri, Sajal & Raimondos, Pascalis, 1995. "Welfare effects of aid under quantitative trade restrictions," Journal of International Economics, Elsevier, vol. 39(3-4), pages 297-315, November.
    8. Michael J. Ferrantino, 2006. "Quantifying the Trade and Economic Effects of Non-Tariff Measures," OECD Trade Policy Papers 28, OECD Publishing.
    9. Krishna, Kala & Martin, Will & Tan, Ling Hui, 1997. "Imputing license prices: limitations of a cost-based approach," Journal of Development Economics, Elsevier, vol. 52(2), pages 355-374, April.
    10. Jarvis, Lovell S., 2003. "How Brazil Transferred Billions To Foreign Coffee Importers: The International Coffee Agreement, Rent Seeking And Export Tax Rebates," Working Papers 11967, University of California, Davis, Department of Agricultural and Resource Economics.
    11. Hervé Guyomard & Catherine Laroche & Chantal Le Mouel, 1998. "Marché contingenté à l'importation et marché des droits à importer en concurrence imparfaite [Le cas de la banane dans l'Union européenne ]," Économie rurale, Programme National Persée, vol. 243(1), pages 47-55.
    12. Hiau LooiKee & Alessandro Nicita & Marcelo Olarreaga, 2009. "Estimating Trade Restrictiveness Indices," Economic Journal, Royal Economic Society, vol. 119(534), pages 172-199, January.
    13. Guyomard, Hervé & Laroche, Catherine & Le Mouël, Chantal, 1998. "Marché contingenté à l'importation et marché des droits à importer en concurrence imparfaite," Économie rurale, French Society of Rural Economics (SFER Société Française d'Economie Rurale), vol. 243.
    14. Marcelo Olarreaga & Çaglar Özden, 2005. "AGOA and Apparel: Who Captures the Tariff Rent in the Presence of Preferential Market Access?," The World Economy, Wiley Blackwell, vol. 28(1), pages 63-77, January.
    15. Bannister, Geoffrey J., 1993. "Rent-sharing in the multi-fibre arrangement : the case of Mexico," Policy Research Working Paper Series 1191, The World Bank.
    16. Kenneth A. Reinert, 1993. "Textile and Apparel Protection in the United States: A General Equilibrium Analysis," The World Economy, Wiley Blackwell, vol. 16(3), pages 359-376, May.
    17. Meenu Tewari, 2005. "The Role of Price and Cost Competitiveness in Apparel Exports, Post-MFA: A Review," Indian Council for Research on International Economic Relations, New Delhi Working Papers 173, Indian Council for Research on International Economic Relations, New Delhi, India.
    18. Riccardo Faini & Jaime Melo & Wendy Takacs, 1995. "A Primer on the MFA Maze," The World Economy, Wiley Blackwell, vol. 18(1), pages 113-135, January.
    19. Kenneth Hanson & Kenneth Reinert, 1997. "The Distributional Effects of U.S. Textile and Apparel Protection," International Economic Journal, Taylor & Francis Journals, vol. 11(3), pages 1-12.
    20. Meenu Tiwari, 2006. "The Role of Price and cost Competitiveness in Apparel Exports, post MFA: A Review," Working Papers id:485, eSocialSciences.
    21. Hertel, Thomas W. & Bach, Christian F. & Dimaranan, Betina & Martin, Will, 1996. "Growth, globalization, and gains from the Uruguay Round," Policy Research Working Paper Series 1614, The World Bank.
    22. Geoffrey Bannister, 1994. "Rent sharing in the multi-fibre arrangement: The case of Mexico," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 130(4), pages 800-827, December.
    23. Mr. Montfort Mlachila & Yongzheng Yang, 2004. "The End of Textiles Quotas: A Case Study of the Impacton Bangladesh," IMF Working Papers 2004/108, International Monetary Fund.

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