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Trade adjustment policies and income distribution in three archetype developing economies

Robinson, Sherman
Published in Journal of Development Economics. 1982, vol. 10, no. 1, p. 67-92
Abstract This paper explores quantitatively the macroeconomic and distributional impacts on non-oil producing, semi-industrial developing countries of external shocks originating in the world economy —in particular, rising costs of imports and shrinking export markets. The empirical analysis is done with a computable general equilibrium (CGE) model. The effects of the same external shock are modelled for three different archetype economies: a primary exporter, a manufacturing exporter, and a closed economy. Three different policy-adjustment regimes are considered: devaluation, premium rationing of imports (import licenses), and premium rationing in an environment with a fixed real wage for unskilled labor. By making simple assumptions about the way socioeconomic groups operate to influence decision-making, the paper also examines how the struggle between the gainers and losers is likely to affect the policy regime to be chosen.
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DE MELO, Jaime, ROBINSON, Sherman. Trade adjustment policies and income distribution in three archetype developing economies. In: Journal of Development Economics, 1982, vol. 10, n° 1, p. 67-92. doi: 10.1016/0304-3878(82)90056-6 https://archive-ouverte.unige.ch/unige:55447

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