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Industrial organization and trade liberalization : evidence from Korea

  • de Melo, Jaime
  • Roland-Holst, David

Drawing on evidence about industrial organization and market structure, the authors develop a computable general equilibrium model in selected industrial sectors with increasing returns to scale. They use this model to estimate the welfare gains Korea would realize from abolishing the import restraints prevailing in 1982. Under constant returns to scale, they estimate welfare gains to be 1 percent of GDP. With increasing returns to scale in three industrial sectors, they estimate welfare gains ranging from -0.5 percent to 10 percent of 1982 GDP, depending on assumptions about the pricing behavior (markup pricing or Cournot competition) and profit levels that existed under protection.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 518.

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Date of creation: 31 Oct 1990
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Handle: RePEc:wbk:wbrwps:518
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  1. Drusilla K. Brown & Robert M. Stern, 1989. "U.S.-Canada Bilateral Tariff Elimination: The Role of Product Differentiation and Market Structure," NBER Chapters, in: Trade Policies for International Competitiveness, pages 217-254 National Bureau of Economic Research, Inc.
  2. Shantayanan Devarajan & Dani Rodrik, 1989. "Pro-Competitive Effects of Trade Reform: Results from a CGE Model of Cameroon," NBER Working Papers 3176, National Bureau of Economic Research, Inc.
  3. Snape, Richard H, 1977. "Trade Policy in the Presence of Economies of Scale and Product Variety," The Economic Record, The Economic Society of Australia, vol. 53(144), pages 525-34, December.
  4. Dixit, Avinash K, 1986. "Comparative Statics for Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(1), pages 107-22, February.
  5. Devarajan, Shantayanan & Rodrik, Dani, 1989. "Trade Liberalization in Developing Countries: Do Imperfect Competition and Scale Economies Matter?," American Economic Review, American Economic Association, vol. 79(2), pages 283-87, May.
  6. Venables, Anthony J., 1985. "Trade and trade policy with imperfect competition: The case of identical products and free entry," Journal of International Economics, Elsevier, vol. 19(1-2), pages 1-19, August.
  7. Condon, Timothy & de Melo, Jaime, 1991. "Industrial Organization Implications of QR Trade Regimes: Evidence and Welfare Costs," Empirical Economics, Springer, vol. 16(1), pages 139-53.
  8. J. David Richardson & Robert S. Strauss & Michihiko Kunihiro & Edmund T. Pratt, Jr, 1988. "Trade Policy," NBER Chapters, in: International Economic Cooperation, pages 167-232 National Bureau of Economic Research, Inc.
  9. Horstmann, Ignatius J. & Markusen, James R., 1986. "Up the average cost curve: Inefficient entry and the new protectionism," Journal of International Economics, Elsevier, vol. 20(3-4), pages 225-247, May.
  10. Shapiro, Carl, 1989. "Theories of oligopoly behavior," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 6, pages 329-414 Elsevier.
  11. Richard G. Harris, 1989. "The New Protectionism Revisited," Canadian Journal of Economics, Canadian Economics Association, vol. 22(4), pages 751-78, November.
  12. Smith, Alasdair & Venables, Anthony J., 1988. "Completing the internal market in the European Community : Some industry simulations," European Economic Review, Elsevier, vol. 32(7), pages 1501-1525, September.
  13. Don Gunasekera & Rod Tyers, 1989. "Imperfect Competition and Returns to Scale in a Newly Industrialising Economy: A General Equilibrium Analysis of Korean Trade Policy," School of Economics Working Papers 1989-04, University of Adelaide, School of Economics.
  14. Harris, Richard, 1984. "Applied General Equilibrium Analysis of Small Open Economies with Scale Economies and Imperfect Competition," American Economic Review, American Economic Association, vol. 74(5), pages 1016-32, December.
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