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The mercantilist index of trade policy

By James Anderson and J. Peter Neary

Abstract

This paper develops and characterises an index of trade policy restrictiveness defined as the uniform tariff equivalent which maintains the same volume of trade as a given set of tariffs, quotas, and domestic taxes and subsidies. We relate this volume-equivalent index to the Trade Restrictiveness Index, a welfare-equivalent measure, and relate changes in both indexes to changes in the generalised mean and variance of the tariff schedule. Applications to international cross-section and time-series comparisons of trade policy show that the new index frequently gives a very different picture than do standard indexes

Topics: HF Commerce
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Year: 1998
OAI identifier: oai:eprints.lse.ac.uk:20242
Provided by: LSE Research Online

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