search query: @author Hefeker, C. / total: 5
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| Author: | Hefeker, C. Gros, D. |
| Title: | The dynamics of trade integration and the political value of commitment |
| Journal: | Oxford Economic Papers
2000 : APR, VOL. 52:2, p. 398-414 |
| Index terms: | TRADE COMMITMENT GOVERNMENT |
| Language: | eng |
| Abstract: | The given paper analyzes the importance of credible institutions in the process of trade liberalization. It combines aspects of credible policy announcements with adjustment costs. The authors show that if industries' profits are subject to adjustment costs, a dynamic link between periods arises that creates constituencies for a non-discretionary trade policy regime. The conditions for a government to select such an institutional solution are derived. |
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