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| Author: | McKinney, J. Rowley, K. A. |
| Title: | Voluntary Restraint Arrangements on steel imports : policy development and sectoral effects. |
| Journal: | Journal of World Trade
1989 : JUN, VOL. 23:3, p. 69-81 |
| Index terms: | STEEL INDUSTRY IMPORTS USA TRADE RESTRICTION |
| Language: | eng |
| Abstract: | In 1984 the USA successfully concluded negotiations with major suppliers of imported steel to limit their sales in the USA market. The background of the agreements is outlined. The trigger price mechanism is described. Escape clause petitions are examined. The economic impacts of the agreement are analysed. Elasticity-based estimates are presented. Possible monopoly effects are discussed. Three separate multiple regression models are constructed to test the output, employment, and price effects; results are summarized. Findings are evaluated from the point of view of economic policy and the competitive position of the USA. |
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