Gains from Trade Liberalization with Imperfectly Competitive World Markets. A Note. /доклад на 10 конгрессе ЕААЕ, Exploring Diversity in the European Agri-Food System, Zaragoza, Spain, 28-31 August 2002
Опубликовано на портале: 28-11-2003
2002
The paper shows how analyses assuming perfect competition can yield a distorted estimation
of
the expected effects of a trade liberalization when market imperfections exist. The
analytical
framework adopted is very simple and three extreme imperfect market structures are
considered.
In the first case, the exporting country maximizes its producer and consumer surplus
by intervening
in the world market. The second market imperfection considered is the existence of
a private firm
playing the role of “pure middleman” in the world market. Then the case
of a producer-owned
marketing board which is granted exclusive export authority is addressed. It is shown
that under
all three scenarios, if perfect competition is assumed when market imperfections
exist, the impact of
a tariff reduction on prices and volume traded is overestimated. A ranking of the
size of such
distortions in the three cases analyzed is provided. Finally, it is proved that when
a private firm
exerts monopoly and monopsony power in the world market, both the importing and the
exporting countries may well be better off if, rather than making a move towards
trade liberalization, the
importing country “compensates” the exporting country by means of a direct
transfer.
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