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Discussion Paper Details

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Title: The Mercantilist Index of Trade Policy

Author(s): James E Anderson and J Peter Neary

Publication Date: December 1998

Keyword(s): International trade policy, Quotas, Tariffs, trade liberalisation and Trade Restrictiveness Index

Programme Area(s): International Trade and Regional Economics

Abstract: This paper develops and characterizes 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 generalized 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.

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Bibliographic Reference

Anderson, J and Neary, J. 1998. 'The Mercantilist Index of Trade Policy'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2044