Sanjay jain michaelmas Study guides, Class notes & Summaries
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Trade Protection, and the Political Economy of (trade) Policy Reform Lecture Notes 11 Part IIA Paper 4: Economic Development Development Theory and Applications Sanjay Jain Michaelmas graded A in this work
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Trade Protection • Import Tariffs (and export subsidies) • Quotas • Voluntary Export Restraints • Non-Tariff BarriersFigure 12.3 Import Substitution and the Theory of ProtectionMeasuring the Extent of Trade Protection • Tariff Structure and Effective Protection – Nominal rate of protection – Effective rate of protectionMeasuring the Extent of Trade Protection Nominal Rate of Protection • NRP = (p d – p w)/p w where p w and p d are, respectively, the world price a...
