Diplomatic barriers to trade
Article Abstract:
An analysis of the impact of diplomatic climate on international tradewas conducted. The analysis utilized a gravity equation to evaluate data taken from 40 exporting countries in 1985. The results showed that the existing diplomatic climate directly influences the level of international trading. Moreover, the results revealed that western free trade economies tend to adjustthe level of their exports to changes in the diplomatic environment while centrally planned economies tend to manipulate their imports.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1992
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Trade uncertainty and the two-step procedure: the choice of numeraire and exact indexation
Article Abstract:
A small open economy under welfare maximization must first maximize national income and second obtain the optimum consumption point. Two results have been obtained from the study using such a two-step procedure in the case of uncertainty. First, the procedure shall lead to a suboptimal outcome if one of the goods is used as numeraire. If nominal prices are deflated by a price index, however, optimalityis restored. Second, private production shall be at optimum if producers maximize national output.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1992
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Trade policy under imperfect competition: the economics of Russian roulette
Article Abstract:
European trade policies under conditions of imperfect competition are analyzed. It is suggested that the minimal welfare costs of protectionism touted by neo-classical economic theories are inaccurate. It is also argued that multilateral trade negotiations can help Europe benefit from free trade while protectionist measures reduce the competitiveness of domestic producers in the long run.
Publication Name: De Economist
Subject: Economics
ISSN: 0013-063X
Year: 1996
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