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| Author: | NcCorriston, S. Shelson, I. |
| Title: | Optimal trade policies: an application to the UK fertilizer market |
| Journal: | Oxford Economic Papers
1993 : JAN, VOL. 45, p. 118-129 |
| Index terms: | UNITED KINGDOM FERTILIZERS TRADE POLICY |
| Language: | eng |
| Abstract: | This paper evaluates the trade policies introduced into the UK fertilizer market by the UK government and EC Commission in 1987. These policies are assessed in the context of theoretical developments in the analysis of trade policy where markets are imperfectly competitive. Specifically, optimal tariff and tariff-equivalent quota policies are derived. It is found that an optimal tariff policy would have resulted in the highest level of economic welfare, while a quota would have reduced welfare, the latter result being due to the effect of a quota on firms' behaviour. |
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