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George Norman and Darlene C. Chisholm

Government trade policies that are intended to increase domestic welfare , even if this decreases welfare overseas. These policies typically are formulated to benefit domestic firms over their international rivals.

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William A. Kerr

1 Introduction to trade policy William A. Kerr The study of international trade by economists can be roughly divided into three general areas of inquiry: (a) trade theory; (b) empirical studies of trade; and (c) trade policy. The former seeks fundamental insights through the rigorous application of structural formalism and tightly specified assumptions. Empirical studies test the propositions of trade theory (Perdikis and Kerr, 1998) or attempt to garner insights from the statistical evidence pertaining to trade flows and related economic indicators. Trade policy

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Edited by David Alexander Clark

Trade and industrial policy 633 Brandes, S. (1988), Power and Persuasion: Fiestas and Social Control in Rural Mexico, Philadelphia, PA: University of Pennsylvania Press. Brown, G. and R. Giles (1994), ‘Coping with tourism: an examination of resident responses to the social impact of tourism’, in A. Seaton (ed.), Tourism: The State of the Art, Chichester: John Wiley & Sons, pp. 755–64. Butler, R. (1992), ‘Alternative tourism: the thin edge of the wedge’, in V.L. Smith and W.R. Eadington (eds), Tourism Alternatives: Potentials and Problems in the Development of

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EU trade policy

Interpretive Approaches to the EU

Yelter Bollen

10.  EU trade policy Yelter Bollen Although it is one of the oldest and most important supranational competencies, trade policy has so far failed to attract much attention from interpretivist scholars. This is a pity, given that the complexities and the increasingly normative tone of EU trade politics lend themselves well to a post-positivist gaze.1 To support this claim, this chapter begins with an overview of the policy’s main features and a brief discussion of why it might appeal to interpretivists. I then present the academic ‘state of the art’, reviewing

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Henry J. Bruton

38 Trade policy and development Henry J. Bruton Introduction The countries of Western Europe, northern North America, and Australia and New Zealand (the North) began to achieve increasing per capita gross domestic product (GDP) in the first part of the nineteenth century. Growth, so measured, while not uninterrupted, became sustained enough that one may say that the routine functioning of these economies produced increasing per capita GDP. Growth became, in effect, built in. As a consequence of 150–200 years of this fairly routine growth, the countries of the

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Gavin Peebles and Peter Wilson

7. Trade, trade policy and growth In this chapter we look at the structure of Singapore’s trade and how it has changed over time: its imports and exports and interdependence with other countries through trade flows, and its vulnerability to changes in external demand, including the cyclical ups and downs of the global electronics cycle and the regional slowdown induced by the Asian financial crisis of 1997–98. Despite a history of successful export-led growth and industrialization, there is a perception that Singapore has special characteristics and so lacks the

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Edited by William A. Kerr and James D. Gaisford

The Handbook on International Trade Policy is an insightful and comprehensive reference tool focusing on trade policy issues in the era of globalization. Each specially commissioned chapter deals with important international trade issues, discusses the current literature on the subject, and explores major controversies. The Handbook also directs the interested reader to further sources of information.
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William M. Miner

4 Modern history of trade policy William. M. Miner Introduction The modern history of trade policy is the record of the development of the multilateral trade system. At the centre of the system is the World Trade Organization (WTO) which provides the common institutional framework for the conduct of trade relations among member governments. It is responsible for matters related to a series of agreements and legal undertakings, including the General Agreement on Tariffs and Trade (GATT), and provides a framework for the development of a wider range of agreements

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Arye L. Hillman

12. Rents and international trade policy Arye L. Hillman* SUMMARY Whether the presence of politically created rents is acknowledged has distinguished two approaches to the study of international trade policy. A model that excludes politically created rents proposes that: (1) governments’ efficiency objectives give rise to protectionist policies; (2) social welfare can be increased by a government providing subsidies to firms competing in international markets; (3) tariffs are used by governments to improve the terms of trade, with the population benefitting

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A.M. Ulph

29 Strategic environmental policy and foreign trade Alistair M. Ulph* 1. Introduction - the issues To understand what is meant by strategic environmental policy in the context of international trade, note that much economic analysis of a specific environmental problem is of a partial nature. For example, if a firm is discharging pollution to a river, then the usual economic policy advice would be to impose an emission tax equal to marginal damage costs or an emission standard such that marginal abatement costs equal marginal damage costs. Such a policy may have