Trade Spillovers Of Domestic Subsidies

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Trade Spillovers Of Domestic Subsidies

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Author : Lorenzo Rotunno
language : en
Publisher: International Monetary Fund
Release Date : 2024-03

Trade Spillovers Of Domestic Subsidies written by Lorenzo Rotunno and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03 with Business & Economics categories.

As governments resort to industrial policies to achieve economic and non-economic objectives, the number of subsidies implemented each year has more than tripled in the last decade. Using detailed data across a large number of advanced and emerging economies, we empirically investigate the effects of domestic subsidies on international trade flows. Estimates from a difference-in-difference specification show that on average subsidies promote both exports and imports. These effects are partly driven by selection into subsidies, as governments target export-oriented and import-competing products. The results however mask significant differences across countries. Specifically, exports of subsidized products from G20 emerging markets increase 8 percent more than exports of other products, with no evidence of selection. The gravity estimates confirm that subsidies promote international relative to domestic trade. These spillover effects are concentrated in some industries, such as electrical machinery, and are stronger when subsidies are given through tax breaks than other policy instruments. The subsidy-led rise in trade calls for international cooperation to manage risks of retaliatory actions and possible drifts towards a subsidy war.

International Process R D With Spillovers

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Author : Il-Seok Yang
language : en
Publisher:
Release Date : 2017

International Process R D With Spillovers written by Il-Seok Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.

This paper analyzes the relationship between exports, domestic sales, R&D investments and trade costs, and the relationship between those factors and R&D spillovers in the presence of R&D spillovers when an international market is monopolized and international competition takes place. Moreover, it examines non-cooperative, optimal R&D policies in the same circumstance. We show that exports, domestic sales, and R&D investments are decreasing in level of trade costs and they are increasing in level of R&D spillovers for any given subsidies if trade costs are insignificant in the former. However, whether domestic sales are increasing or decreasing with the level of trade costs depends on the level of R&D spillovers while exports and R&D investments are decreasing, and whether export and domestic sales are increasing or decreasing with the level of R&D spillovers for any given subsidies if trade costs are insignificant depends on the parameters while R&D investments are increasing under the same circumstance in the latter. We also show that a government's optimal policy is R&D subsidies, and the optimal R&D subsidy rate is increasing in the level of R&D spillovers for all positive degrees of R&D spillovers in the former. However, whether the optimal R&D subsidy rate is increasing or decreasing in the level of R&D spillovers depends on parameters while a government's optimal policy is also R&D subsidies in the latter.

Strategic Trade Policy The Committed Versus Non Committed

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Author : Krešimir Žigić
language : en
Publisher:
Release Date : 2009

Strategic Trade Policy The Committed Versus Non Committed written by Krešimir Žigić and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

We compare the social welfare generated by a domestic government in the two types of policy setups: a "commitment" regime in which the government sets its policy instrument before the strategic choice is made by the domestic firm and a "non-commitment" regime where the policy variable is set after the strategic choice is made by the firm. The government conducts strategic trade policy in the form of optimal tariffs under which domestic and foreign firms compete in quantities in an imperfectly competitive domestic market where cost reducing R&D spillovers take place from the domestic to the foreign firm. We show that the "non-committed" government achieves generally a higher level of welfare and levies a lower optimal tariff than the "committed" government. Moreover, when the domestic government is allowed to use an R&D subsidy, that may or may not be accompanied by the optimal tariff, the resulting optimal subsidies are always positive.

Rethinking International Subsidy Rules

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Author : Bernard M. Hoekman
language : en
Publisher:
Release Date : 2020

Rethinking International Subsidy Rules written by Bernard M. Hoekman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Commercial policy categories.

Geo-economic tensions, notably associated with the rise of China, and global collective action problems -- climate change; the COVID-19 pandemic -- call for international cooperation to revise and develop rules to guide both the use of domestic subsidies and responses by governments to cross-border competition spillover effects. Current WTO rules dividing all subsidies into prohibited or actionable categories are no longer fit for purpose. Piecemeal efforts in preferential trade agreements and bi- or trilateral configurations offer a basis on which to build but are too narrow in scope. Addressing spillover effects of subsidies could start with G20 countries launching a work program to mobilize an epistemic community concerned with subsidy policies, tasked with building a more solid evidence base on the magnitude, purpose and effects of subsidy policies. The need for such cooperation has become even more pressing by the COVID-19 pandemic and the associated increase in the use of subsidy programs in major economies.

A New Global Economic Order

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Author :
language : en
Publisher: BRILL
Release Date : 2021-11-22

A New Global Economic Order written by and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-22 with Business & Economics categories.

A New Global Economic Order: New Challenges to International Trade Law examines the dislocating effects of the policies implemented by the Trump Administration on the global economic order and brings together leading scholars and practitioners of international economic law come together to defend multilateralism against unilateralism and populism.

Industrial Policy And The World Trade Organization

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Author : Sherzod Shadikhodjaev
language : en
Publisher: Cambridge University Press
Release Date : 2018-11-08

Industrial Policy And The World Trade Organization written by Sherzod Shadikhodjaev and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-08 with Business & Economics categories.

Highlights what national governments should know to properly conduct their industrial policies under the multilateral trading system.

Subsidies To Chinese Industry

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Author : Usha C.V. Haley
language : en
Publisher: Oxford University Press, USA
Release Date : 2013-05-02

Subsidies To Chinese Industry written by Usha C.V. Haley and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-02 with Business & Economics categories.

Government subsidies have contributed to China's success as manufacturer and exporter in capital-intensive industries. China's state-capitalist regime uses subsidies to stabilize and create common understandings of markets among governments and firms.

Producer Subsidies

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Author : R. Gerritse
language : en
Publisher: Burns & Oates
Release Date : 1990

Producer Subsidies written by R. Gerritse and has been published by Burns & Oates this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.

Methodology For Impact Assessment Of Free Trade Agreements

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Author : Michael G. Plummer
language : en
Publisher: Asian Development Bank
Release Date : 2011-02-01

Methodology For Impact Assessment Of Free Trade Agreements written by Michael G. Plummer and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-01 with Political Science categories.

This publication displays the menu for choice of available methods to evaluate the impact of Free Trade Agreements (FTAs). It caters mainly to policy makers from developing countries and aims to equip them with some economic knowledge and techniques that will enable them to conduct their own economic evaluation studies on existing or future FTAs, or to critically re-examine the results of impact assessment studies conducted by others, at the very least.

Commitments And Flexibilities In The Wto Agreement On Subsidies And Countervailing Measures

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Author : José Guilherme Moreno Caiado
language : en
Publisher: Cambridge University Press
Release Date : 2019-05-02

Commitments And Flexibilities In The Wto Agreement On Subsidies And Countervailing Measures written by José Guilherme Moreno Caiado and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-02 with Business & Economics categories.

Examines the WTO rules governing industrial subsidies, as established by the SCM Agreement and interpreted by relevant case law.