国际贸易理论双语：4章

– Some consumers curtail import consumption, switch to less desirable domestic products
• Production of substitutes expands, drawing resources away from other industries (presumably higher ranking in comparative advantage)
– Tax on commodity crossing international border, designed to raise import price and protect industries which have a comparative advantage
2
Some Institutional Considerations
Further Considerations:
• Tariff produces gain to factors of production heavily utilized in the importcompeting industries
• Total loss to country outweighs gain to particular resources • Domestic taxes and subsidies better way to redistribute income
– Both countries benefit
• Small countries vs. large countries
– Different abilities to affect world market prices and terms of trade
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Economic Effects of the Tariff
CHAPTER 4
Protection of Domestic Industries: The Tariff
1
OVERVIEW
• Despite gains from trade, artificial barriers interfere with flow • Commercial policy product of pressure groups • Tariff most common barrier
– Retarding economic growth
– Reduced competitive stimuli
– Inflationary pricing
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The Economic Cost of the Tariff
Further Considerations:
• Internal repercussions in exporting country
– Loss of production efficiency for economy as a whole – Income redistributed from consumers to producers of protected commodities and to government
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• Optimum tariff maximizes net gain
பைடு நூலகம்
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FIGURE 4.6
The Optimum Tariff
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The Economic Cost of the Tariff
Further Considerations:
• Balance-of-trade implications
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The Economic Cost of the Tariff
Further Considerations:
• Empirical studies based on multilateral reductions in tariff rates since WW II • For world, terms of trade effects cancel out
– Equitable and constant
• Specific duty (fixed sum per unit)
– Easy to apply and administer – FOB, CIF, FAS
• Compound duty (combined tariff)
4
Some Institutional Considerations
• Nominal rate (published tariff) • Effective rate (protection accorded to domestic value added) • Effective protection increases as nominal rate increases and as nominal rate imposed on materials used in production decreases23
• Volume of world trade rises
• Traditional measure of tariff cost as a percent of CDP is approximately the
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FIGURE 4.7
Schematic Effects of Tariff Reduction
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The Economic Cost of the Tariff
Further Considerations:
• Indirect consequences
– Increasing degree of monopoly – Lowering productive efficiency, – Penalizing consumers
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Effective Protective Rate
Simplified Formula
The formula is derived as follows:
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How Protective is the Tariff?
• Protection difficult to measure
• For international or inter-commodity comparisons, specific duties must be converted to ad valorem equivalent
• Exports and imports determined by domestic and prevailing international prices • In small importing country, domestic prices rises by full amount of tariff • In large importing country, price rises by portion of tariff, exporting country absorbs other portion
The Economic Cost of the Tariff
Further Considerations:
• Real income of world is reduced • Importing country loses real income by reducing trade volume, and gains due to improved terms of trade
5
Economic Effects of the Tariff
• Who pays the tariff?
– Import country consumers – Exporters
• Terms of trade
– Export price divided by import price
• Volume of trade
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FIGURE 4.1
The Belgian Market for Coffee
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FIGURE 4.2
The U.S. Market for Coffee
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Economic Effects of the Tariff
• International price of imports artificially raised by full amount of duty
• • • • • • Tariff-setting a congressional prerogative Tariff classification long and complex Uncertainty hinders trade Statutory tariff Preferential status Tariff schedule spikes
• Tariffs
• Import duties
• Export taxes
• Direct quota restrictions • Export bans
• Tariffs and resource allocation
3
Some Institutional Considerations
• Protection vs. Revenue • Ad valorem duty (fixed percentage of value)
Effective Protective Rate
Simplified Formula
gj t j a g ti 1 a ij
where:
gj is the effective protective rate on the final product j, tj is the nominal tariff rate on imported input i, and ag is the share of i in the total value of j in the absence of tariffs.
– If importing country is small—no repercussions
– If importing country is large—price of export good is depressed due to lower demand – Curtailment of production, increase in domestic consumption – Introduction of trade raises domestic prices17
– Producers’ surplus
– Welfare triangles
– Deadweight loss
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FIGURE 4.4
Consumers’ Surplus
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FIGURE 4.5
Producers’ Surplus
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The Economic Cost of the Tariff
– Import duty improves country’s external trade position if unemployment is high – If unemployment is low, labor resources moved from other (possibly export) sectors – Exports may decline as much as imports, producing no improvement in trade position
FIGURE 4.3
Domestic Effects of the Tariff
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The Economic Cost of the Tariff
Further Considerations:
• Welfare economics
– Price consumers are willing to pay – Consumers’ surplus – Price at which sellers are willing to supply