Voluntary export restraints (VERs) have been widely used in recent years. VERs may be applied on a quantity or a ratio basis. A simple on‐equivalence between volume and ratio VERs is noted and potential political economy aspects are commented on.

Purpose This paper aims to reflect on the outcomes of the Nairobi Ministerial Conference of 2015, which, for all intents and purposes, put the Doha Round to rest and analyses the policy implications and lessons for policymaking at the World Trade Organization (WTO), most importantly the...

Strategic trade theory offers a way of conceptualizing and testing for strategic government interventions in imperfectly competitive international markets. This survey critically assesses recent empirical evidence, with a focus on food and agricultural markets. One finding is that while many...

Zusammenfassung Die Theorie und Politik der Außenwirtschaft unterliegt seit geraumer Zeit einem Wandel und einer Annäherung an die Realität. Sie wurde im 18. und 19. Jahrhundert für den Güterhandel und auf der Grundlage der Produktionstheorie (Faktorverfügbarkeit, Faktorintensität,...

Japan′s consumers are said to be the most meticulous and demanding consumers in the world – expecting only the best in quality and service from the merchant. However true this may be, how protected are these consumers by their own government? In an irony of place and time, the world′s...

Purpose – The purpose of this paper is to explain how eventual pressures from national lobbies may lead governments to shift from an optimal into a non‐optimal innovation policy. Design/methodology/approach – A theoretical model is developed in order to examine and explain the growth and...

Demonstrates the implications of imperfect substitutability between domestic and imported final goods for the determination of second‐best ominal and effective tariffs in a general equilibrium setting. The analysis of second‐best interventions for given policy distortions extends that by...

Some recent research has reported results more favourable to long‐run purchasing‐power parity (PPP) for exchange rates within the European Monetary System (EMS) than for those outside it. This is inconsistent with the predictions of theories that regard the EMS as a means of acquiring...

Examines the impact of the sugar tariff‐rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of...