haku: @author Nogues, J. / yhteensä: 6
viite: 6 / 6
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| Tekijä: | Nogues, J. |
| Otsikko: | The experience of Latin America with export subsidies |
| Lehti: | Weltwirtschaftliches Archiv
1990 : VOL. 126:1, p. 97-ll5 |
| Asiasana: | EXPORTS FINANCING LATIN AMERICA |
| Kieli: | eng |
| Tiivistelmä: | Latin America historically relied on the export of a few commodities whose terms of trade was predicted to deteriorate. This gave rise to policies of export subsidisation. The article first reviews the theoretical arguments favouring export subsidisation, then the traditionally anti-export (import-substitution) bias of economic policy and exchange rate overevaluation. Casual and econometric evidence on the impact of subsidies on export performance is positive only in the case of Brasil. Social costs of export subsidisation are high in terms of fiscal outlay, exchange rate misalignment, anti-labour bias and countervailing duties. |
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