案例分析发达国家和发展中国家的贸易条件教程.pptVIP

* * * * * * * * * * * * * * * * * * * Import tariffs(P109) and export subsidies (P109)affect both relative supply and relative demand. Relative Demand and Supply Effects of a Tariff Tariffs drive a wedge between the prices at which goods are traded internationally (external prices) and the prices at which they are traded within a country (internal prices). The terms of trade correspond to external, not internal, prices. 5-3 Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD * Figure 5-9: Effects of a Tariff on the Terms of Trade(P110) Relative price of cloth, PC/PF Relative quantity of cloth, QC + Q*C QF + Q*F RS1 RD1 RD2 RS2 (PC/PF)1 1 (PC/PF)2 2 * Effects of an Export Subsidy Tariffs and export subsidies are often treated as similar policies but they have opposite effects on the terms of trade. Example: Suppose that Home offers 20% subsidy on the value of cloth exported: This will raise Home’s internal price of cloth relative to food by 20%. This will lead Home producers to produce more cloth and less food. A Home export subsidy worsens Home’s terms of trade and improves Foreign’s.(P111) * Figure 5-10: Effects of a Subsidy on the Terms of Trade(P111) Relative price of cloth, PC/PF Relative quantity of cloth, QC + Q*C QF + Q*F RS1 RD1 RD2 RS2 (PC/PF)1 1 (PC/PF)2 2 * Implications of Terms of Trade Effects: Who Gains and Who Loses? The International Distribution of Income(p111) If Home (a large country) imposes a tariff, its welfare increases as long as the tariff is not too large, while Foreign’s welfare decreases. If Home offers an export subsidy, its welfare deteriorates, while Foreign’s welfare increases. The Distribution of Income Within Countries(p112) A tariff (subsidy) has the direct effect of raising the internal relative price of the imported (exported) good. Tariffs and export subsidies might have perverse effects on internal prices (Metzler paradox).(p112) * Summary The standard trade model pro