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Trade Liberalization in T&C: An Overview of the Welfare Effects

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Abstract

This paper examines the effects of trade liberalization on cotton-yarn producer’s welfare in Greece, Portugal, Spain and Turkey. We perform a comparative analysis of the price-induced welfare effects using multi-market theory, a single-market approach and bootstrapping techniques. Results show that after the 1995 implementation of the plan for the gradual elimination of quotas (Agreement on Textiles and Clothing, ATC, 1995-2005) producers in all four countries suffered substantial welfare losses.

Suggested Citation

  • Dimitrios Dadakas & Stelios D Katranidis, 2009. "Trade Liberalization in T&C: An Overview of the Welfare Effects," Discussion Paper Series 2009_15, Department of Economics, University of Macedonia, revised Nov 2009.
  • Handle: RePEc:mcd:mcddps:2009_15
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    File URL: http://aphrodite.uom.gr/econwp/pdf/dp1509.pdf
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    References listed on IDEAS

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    1. Jeong, Kyeong-Soo & Garcia, Philip & Bullock, David S., 2003. "A statistical method of multi-market welfare analysis applied to Japanese beef policy liberalization," Journal of Policy Modeling, Elsevier, vol. 25(3), pages 237-256, April.
    2. Dimitrios Dadakas & Stelios Katranidis, 2008. "Single Versus Multi-market Approach: An Application to the Greek Cotton Market," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 36(4), pages 469-481, December.
    3. Dimitrios Dadakas & Stelios D. Katranidis, 2010. "The Effects of Trade Liberalization in Textiles and Clothing on the Greek Market for Cotton Yarn: A Multi-Market Analysis," Review of International Economics, Wiley Blackwell, vol. 18(1), pages 138-152, February.
    4. Stelios D. Katranidis & Elisavet I. Nitsi & David S. Bullock, 2005. "The effects of EU corn, cotton, and sugar beet policies on Greek producers: a multimarket analysis," Agricultural Economics, International Association of Agricultural Economists, vol. 33(s3), pages 423-430, November.
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    More about this item

    Keywords

    VMulti-Market; Single-Market Approach; Applied Welfare Analysis; Bootstrap; Textiles and Clothing; Trade Liberalization; MFA; ATC.;

    JEL classification:

    • C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
    • D60 - Microeconomics - - Welfare Economics - - - General
    • F10 - International Economics - - Trade - - - General

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