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| Author: | Ogino, K. |
| Title: | Protection, foreign capital and national welfare in the presense of unemployment |
| Journal: | Economic Studies Quarterly
1994 : MAR, VOL. 45:1, p. 32-40 |
| Index terms: | CAPITAL WELFARE UNEMPLOYMENT |
| Language: | eng |
| Abstract: | Using specific-factors model of a competitive small open economy, this paper shows how the standard welfare analysis of capital flows with tariffs and quotas are modified in the presence of unemployment. Employment of labour is endogenously determined and the analysis establishes a departure from the traditional results with full employment. The author shows several policy implications. Free trade does not necessarily lead to a welfare gain for the country and th optimal policy intervention is considered. |
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