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Full Description
An internationally acknowledged authority on all aspects of the theory of international trade and payments, this book collects Harry Johnson's contributions to the study of international trade, including a critique of the theory of effective protection. The book discusses:
the integration of income distribution and other aspects of the economy into the positive theory of tariffs
the issues raised by the use of tariffs to promote economic development
the implications of distortions of various kinds in the working of competition for tariff theory and policy
the costs of protection
the implications of effective protection for world economic development and the economic effects of trade preferences
the question of free trade and the extent to which it requires the harmonization other aspects of economic policy.
Contents
Introduction Part 1: The Positive Theory of Tariffs 1. International Trade, Income Distribution, the Offer Curve, and the Effects of Tariffs. Appendix: An Alternative Derivation of the Transformation Curve and Income Distribution Function 2. A Generalized Theory of the Effects of Tariffs on the Terms of Trade (with Jagdish Bhagwati) 3. Tariffs and Economic Development: Some Theoretical Issues Part 2: Tariffs and Distortions 4. Optimal Trade Intervention In the Presence of Domestic Distortions 5. Factor Market Distortions and the Shape of the Transformation Curve 6. The Gain from Exploiting Monopoly or Monopsony Power in International Trade 7. Two Notes on Tariffs, Distortions, and Growth Part 3: The Cost of Protection 8. The Cost of Protection and the Scientific Tariff 9. The Costs of Protection and Self-Sufficiency 10. An Economic Theory of Protectionism, Tariff Bargaining, and the Formation of Customs Unions Appendix: The Limits of Non-Discriminatory Reciprocal Tariff Reduction Part 4: The Theory of Effective Protection 11. The Theory of Content Protection 12. The Theory of Tariff Structure, with special reference to world trade and development 13. The Theory of Effective Protection and Preferences 14. A Model of Protection and the Exchange Rate 15. Effective Protection and General Equilibrium Theory Part 5: Tariff Reduction and Policy Harmonization 16. The Implication of Free or Freer Trade for the Harmonization of Other Policies. Indices
