Trade Policy and WTO Accession for Economic Development : Application to Russia and the CIS, Module 1. Trade Policy Principles
This module illustrates the basics of trade policy analysis. It focuses on the following questions: 1) What do countries gain by trading with each other instead of opting for self sufficiency?; 2) What are the main instruments of trade policy?; 3)...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/656321484051280250/Module-1-Trade-policy-principles http://hdl.handle.net/10986/25935 |
| Summary: | This module illustrates the basics of
trade policy analysis. It focuses on the following
questions: 1) What do countries gain by trading with each
other instead of opting for self sufficiency?; 2) What are
the main instruments of trade policy?; 3) How do they affect
prices, output and welfare?; and 4) What are the effects of
trade policy in the presence of market imperfections. This
book is arranged as follows: In Section one, the authors
show how the main welfare effects of trade policy can be
analyzed. In Section two, the authors illustrate the main
sources of gains from trade, namely, how and why
international trade raises welfare. In Section three, the
authors examine the main trade policy instruments and
discuss their welfare effects, while in Section four the
authors ask whether there is scope for trade policy in the
presence of externalities generated by domestic production
or when markets are imperfectly competitive. The main issues
will be illustrated in very simple and intuitive terms.
Boxes will instead provide a more rigorous analysis of the
arguments discussed in this module. |
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