国际经济学 政治经济的贸易政策 _PPT_c09
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The terms of trade argument for a tariff The domestic market failure
National Welfare Arguments Against Free Trade
• The Terms of Trade Argument for a Tariff (import tax)
Key Terms
Theory of the second best 次优理论 General Agreement on Tariffs and Trade(GATT) 关贸总协定 Trade creation 贸易创造 Trade diversion 贸易转移 International negotiation 国际谈判 Trade round 贸易回合 Marginal social benefit 边际社会收益 Trade war 贸易战 Median voter 中点选民 World Trade Organization 世界贸易组织 optimum tariff 最优关税
Fig. 9-1: The Efficiency Case for Free Trade
The Cases for Free Trade (cont.)
• However, because tariff rates are already low for most countries, the estimated benefits of moving to free trade are only a small fraction of national income for most countries.
• Political Argument for Free Trade
A political commitment to free trade may be a good idea in practice. Trade policies in practice are dominated by special-interest politics rather than consideration of national costs and benefits.
The presence of scale economies favors free trade that generates more varieties and results in lower prices. Free trade, as opposed to “managed” trade, provides a wider range of opportunities and thus a wider scope for innovation.
• This benefit must be compared to the costs of the tariff (production and consumption distortions).
It is possible that the terms of trade benefits of a tariff outweigh its costs.
• Therefore, free trade might not be the best policy for a large country.
Fig. 9-2: The Optimum Tariff
National Welfare Arguments Against Free Trade
• Optimum tariff
• A tariff causes a net loss to the economy. • A move from a tariff equilibrium to free trade eliminates the efficiency loss and increases national welfare.
• Thus, another reason why trade allocates resources efficiently is that it avoids the loss of resources through rent seeking.
The Cases for Free Trade (cont.)
National Welfare Arguments Against Free Trade
What policy would the terms of trade argument dictate for export sectors?
• An export subsidy worsens the terms of trade, and therefore unambiguously reduces national welfare.
Introduction
• What reasons are there for governments not to interfere with trade?
There are three arguments in favor of free trade:
• Free trade and efficiency • Economies of scale in production • Rent-Seeking • Political argument
Therefore, the optimal policy in export sectors must be a negative subsidy, that is, a tax on exports.
The Case for Free Trade
• Free Trade and Efficiency
The efficiency argument for free trade is based on the result that in the case of a small country, free trade is the best policy.
• Any attempt to pursue sophisticated deviations from free trade will be subverted by the political process.
National Welfare Arguments Against Free Trade
chapter9thepoliticaleconomyoftradepolicykeytermsbinding约束politicalargumentforfreetrade支持自由贸易的政治依据collectiveaction集体行动preferentialtradingagreement特惠贸易协定customsunion关税联盟prisonersdilemma囚徒困境domesticmarketfailures国内市场失灵rentseeking寻租efficiencycaseforfreetrade支持自由贸易的效率观点termsoftradeargumentforatariff赞成关税的贸易条件改善论freetradearea自由贸易区keytermstheoryofthesecondbest次优理论generalagreementontariffsandtradegatt关贸总协定tradecreation贸易创造tradediversion贸易转移internationalnegotiation国际谈判traderound贸易回合marginalsocialbenefit边际社会收益tradewar贸易战medianvoter中点选民worldtradeorganization世界贸易组织optimumtariff最优关税?introduction?thecaseforfreetrade?nationalwelfareargumentsagainstfreetradetradechapterorganization?incomedistributionandtradepolicy?internationalnegotiationsandtradepolicy?thedohadisappointment?summaryintroduction?freetrademaximizesnationalwelfarebutitisassociatedwithincomedistributionaleffects
• Example: In the auto industry, an efficient scale assembly should make a minimum of 80,000 cars per year.
In Argentina, 13 firms produced a total of 166,000 cars per year.
The Cases for Free Trade (cont.)
• Yet when quotas are used instead of tariffs, costs can be magnified through rent seeking.
To seek quota licenses or the rights to sell a restricted number of imports and the profit that they will earn, individuals or institutions need to spend time and other resources.
• The conventionally measured costs of deviating from free trade are large.
• There are other benefit from free trade that add to the costs of protectionist policies.
The tariff rate that maximizes national welfare It is always positive but less than the prohibitive rate that would eliminate all imports. It is zero for a small country because it cannot affect its terms of trade.
Chapter Organization
• Introduction
• The Case for Free Trade • National Welfare Arguments against Free Trade • Income Distribution and Trade Policy • International Negotiations and Trade Policy • The Doha Disappointment • Summary
Table 9-1: Benefits of a Move to Worldwide Free Trade (percent• Additional Gains from Free Trade
Protected markets in small countries do not allow firms to exploit scale economies.
For a large country (that is, a country that can affect the world price through trading), a tariff lowers the price of imports and generates a terms of trade benefit.
Chapter 9
The Political Economy of Trade Policy
Key Terms
Binding 约束 Political argument for free trade支持自由贸易的政治依据 Collective action 集体行动 Preferential trading agreement 特惠贸易协定 Customs union 关税联盟 Prisoner’s dilemma 囚徒困境 Domestic market failures 国内市场失灵 rent-seeking 寻租 Efficiency case for free trade 支持自由贸易的效率观点 Terms of trade argument for a tariff赞成关税的贸易条件改善论 Free trade area 自由贸易区
Introduction
• Free trade maximizes national welfare, but it is associated with income distributional effects.
Most governments maintain some form of restrictive trade policies. This chapter examines some of the reasons governments either should not or do not base their policy on economists’ cost-benefit calculations.
• Activist trade policies（protective） can sometimes increase the welfare of the nation as a whole. • There are two theoretical arguments against the policy of free trade:
National Welfare Arguments Against Free Trade
• The Terms of Trade Argument for a Tariff (import tax)
Key Terms
Theory of the second best 次优理论 General Agreement on Tariffs and Trade(GATT) 关贸总协定 Trade creation 贸易创造 Trade diversion 贸易转移 International negotiation 国际谈判 Trade round 贸易回合 Marginal social benefit 边际社会收益 Trade war 贸易战 Median voter 中点选民 World Trade Organization 世界贸易组织 optimum tariff 最优关税
Fig. 9-1: The Efficiency Case for Free Trade
The Cases for Free Trade (cont.)
• However, because tariff rates are already low for most countries, the estimated benefits of moving to free trade are only a small fraction of national income for most countries.
• Political Argument for Free Trade
A political commitment to free trade may be a good idea in practice. Trade policies in practice are dominated by special-interest politics rather than consideration of national costs and benefits.
The presence of scale economies favors free trade that generates more varieties and results in lower prices. Free trade, as opposed to “managed” trade, provides a wider range of opportunities and thus a wider scope for innovation.
• This benefit must be compared to the costs of the tariff (production and consumption distortions).
It is possible that the terms of trade benefits of a tariff outweigh its costs.
• Therefore, free trade might not be the best policy for a large country.
Fig. 9-2: The Optimum Tariff
National Welfare Arguments Against Free Trade
• Optimum tariff
• A tariff causes a net loss to the economy. • A move from a tariff equilibrium to free trade eliminates the efficiency loss and increases national welfare.
• Thus, another reason why trade allocates resources efficiently is that it avoids the loss of resources through rent seeking.
The Cases for Free Trade (cont.)
National Welfare Arguments Against Free Trade
What policy would the terms of trade argument dictate for export sectors?
• An export subsidy worsens the terms of trade, and therefore unambiguously reduces national welfare.
Introduction
• What reasons are there for governments not to interfere with trade?
There are three arguments in favor of free trade:
• Free trade and efficiency • Economies of scale in production • Rent-Seeking • Political argument
Therefore, the optimal policy in export sectors must be a negative subsidy, that is, a tax on exports.
The Case for Free Trade
• Free Trade and Efficiency
The efficiency argument for free trade is based on the result that in the case of a small country, free trade is the best policy.
• Any attempt to pursue sophisticated deviations from free trade will be subverted by the political process.
National Welfare Arguments Against Free Trade
chapter9thepoliticaleconomyoftradepolicykeytermsbinding约束politicalargumentforfreetrade支持自由贸易的政治依据collectiveaction集体行动preferentialtradingagreement特惠贸易协定customsunion关税联盟prisonersdilemma囚徒困境domesticmarketfailures国内市场失灵rentseeking寻租efficiencycaseforfreetrade支持自由贸易的效率观点termsoftradeargumentforatariff赞成关税的贸易条件改善论freetradearea自由贸易区keytermstheoryofthesecondbest次优理论generalagreementontariffsandtradegatt关贸总协定tradecreation贸易创造tradediversion贸易转移internationalnegotiation国际谈判traderound贸易回合marginalsocialbenefit边际社会收益tradewar贸易战medianvoter中点选民worldtradeorganization世界贸易组织optimumtariff最优关税?introduction?thecaseforfreetrade?nationalwelfareargumentsagainstfreetradetradechapterorganization?incomedistributionandtradepolicy?internationalnegotiationsandtradepolicy?thedohadisappointment?summaryintroduction?freetrademaximizesnationalwelfarebutitisassociatedwithincomedistributionaleffects
• Example: In the auto industry, an efficient scale assembly should make a minimum of 80,000 cars per year.
In Argentina, 13 firms produced a total of 166,000 cars per year.
The Cases for Free Trade (cont.)
• Yet when quotas are used instead of tariffs, costs can be magnified through rent seeking.
To seek quota licenses or the rights to sell a restricted number of imports and the profit that they will earn, individuals or institutions need to spend time and other resources.
• The conventionally measured costs of deviating from free trade are large.
• There are other benefit from free trade that add to the costs of protectionist policies.
The tariff rate that maximizes national welfare It is always positive but less than the prohibitive rate that would eliminate all imports. It is zero for a small country because it cannot affect its terms of trade.
Chapter Organization
• Introduction
• The Case for Free Trade • National Welfare Arguments against Free Trade • Income Distribution and Trade Policy • International Negotiations and Trade Policy • The Doha Disappointment • Summary
Table 9-1: Benefits of a Move to Worldwide Free Trade (percent• Additional Gains from Free Trade
Protected markets in small countries do not allow firms to exploit scale economies.
For a large country (that is, a country that can affect the world price through trading), a tariff lowers the price of imports and generates a terms of trade benefit.
Chapter 9
The Political Economy of Trade Policy
Key Terms
Binding 约束 Political argument for free trade支持自由贸易的政治依据 Collective action 集体行动 Preferential trading agreement 特惠贸易协定 Customs union 关税联盟 Prisoner’s dilemma 囚徒困境 Domestic market failures 国内市场失灵 rent-seeking 寻租 Efficiency case for free trade 支持自由贸易的效率观点 Terms of trade argument for a tariff赞成关税的贸易条件改善论 Free trade area 自由贸易区
Introduction
• Free trade maximizes national welfare, but it is associated with income distributional effects.
Most governments maintain some form of restrictive trade policies. This chapter examines some of the reasons governments either should not or do not base their policy on economists’ cost-benefit calculations.
• Activist trade policies（protective） can sometimes increase the welfare of the nation as a whole. • There are two theoretical arguments against the policy of free trade: