Tokarick, Stephen; Cassing, James H - International Monetary Fund (IMF) - 2005
economy's real measured growth rate and so, somewhat deceivingly, give the impression that national welfare has benefited from … affect the rate of growth for a small, open economy. As shown by Johnson (1970), in the presence of exogenously given factor … accumulation, tariffs either raise or lower an economy's growth rate (measured by the change in the value of output at world prices …