ofTradePolicy(发展经济学-厦门大学,陈涛)

Chapter8TheInstrumentsofTradePolicySlide8-2Copyright©2003PearsonEducation,Inc.IntroductionBasicTariffAnalysisCostsandBenefitsofaTariffOtherInstrumentsofTradePolicyTheEffectsofTradePolicy:ASummarySummaryChapterOrganizationSlide8-3Copyright©2003PearsonEducation,Inc.AppendixI:TariffAnalysisinGeneralEquilibriumAppendixII:TariffsandImportQuotasinthePresenceofMonopolySlide8-4Copyright©2003PearsonEducation,Inc.IntroductionThischapterisfocusedonthefollowingquestions:•Whataretheeffectsofvarioustradepolicyinstruments?–Whowillbenefit,andwhowilllose?•Whatarethecostsandbenefitsofprotection?–Willthebenefitsoutweighthecosts?•Whatshouldanation’stradepolicybe?Slide8-5Copyright©2003PearsonEducation,Inc.ClassificationofCommercialPolicyInstrumentsCommercialPolicyInstrumentsTradeContractionTradeExpansionTariffExporttaxImportquotaVoluntaryExportRestraint(VER)ImportsubsidyExportsubsidyVoluntaryImportExpansion(VIE)PriceQuantityPriceQuantitySlide8-6Copyright©2003PearsonEducation,Inc.BasicTariffAnalysisTariffscanbeclassifiedas:•Specifictariffs–Taxesthatareleviedasafixedchargeforeachunitofgoodsimported–Example:Aspecifictariffof$10oneachimportedbicyclewithaninternationalpriceof$100meansthatcustomsofficialscollectthefixedsumof$10.•Advaloremtariffs–Taxesthatareleviedasafractionofthevalueoftheimportedgoods–Example:A20%advaloremtariffonbicyclesgeneratesa$20paymentoneach$100importedbicycle.Slide8-7Copyright©2003PearsonEducation,Inc.•Acompoundduty(tariff)isacombinationofanadvaloremandaspecifictariff.•Moderngovernmentsusuallyprefertoprotectdomesticindustriesthroughavarietyofnontariffbarriers,suchas:–Importquotas–Limitthequantityofimports–Exportrestraints–LimitthequantityofexportsBasicTariffAnalysisSlide8-8Copyright©2003PearsonEducation,Inc.Supply,Demand,andTradeinaSingleIndustry•Supposethattherearetwocountries(HomeandForeign).•Bothcountriesconsumeandproducewheat,whichcanbecostlesstransportedbetweenthecountries.•Ineachcountry,wheatisacompetitiveindustry.•SupposethatintheabsenceoftradethepriceofwheatatHomeexceedsthecorrespondingpriceatForeign.–ThisimpliesthatshippersbegintomovewheatfromForeigntoHome.–TheexportofwheatraisesitspriceinForeignandlowersitspriceinHomeuntiltheinitialdifferenceinpriceshasbeeneliminated.BasicTariffAnalysisSlide8-9Copyright©2003PearsonEducation,Inc.Todeterminetheworldprice(Pw)andthequantitytrade(Qw),twocurvesaredefined:•Homeimportdemandcurve–ShowsthemaximumquantityofimportstheHomecountrywouldliketoconsumeateachpriceoftheimportedgood.–Thatis,theexcessofwhatHomeconsumersdemandoverwhatHomeproducerssupply:MD=D(P)–S(P)•Foreignexportsupplycurve–ShowsthemaximumquantityofexportsForeignwouldliketoprovidetherestoftheworldateachprice.–Thatis,theexcessofwhatForeignproducerssupplyoverwhatforeignconsumersdemand:XS=S*(P*)–D*(P*)BasicTariffAnalysisSlide8-10Copyright©2003PearsonEducation,Inc.Quantity,QPrice,PPrice,PQuantity,QMDDSAPAP2P1S2D2D2–S22S1D1D1–S11Figure8-1:DerivingHome’sImportDemandCurveBasicTariffAnalysisSlide8-11Copyright©2003PearsonEducation,Inc.Propertiesoftheimportdemandcurve:•Itintersectstheverticalaxisattheclosedeconomypriceoftheimportingcountry.•Itisdownwardsloping.•Itisflatterthanthedomesticdemandcurveintheimportingcountry.BasicTariffAnalysisSlide8-12Copyright©2003PearsonEducation,Inc.P2P*AD*S*P1XSPrice,PPrice,PQuantity,QQuantity,QS*2–D*2S*2D*2Figure8-2:DerivingForeign’sExportSupplyCurveBasicTariffAnalysisD*1S*1S*1–D*1Slide8-13Copyright©2003PearsonEducation,Inc.Propertiesoftheexportsupplycurve:•Itintersectstheverticalaxisattheclosedeconomypriceoftheexportingcountry.•Itisupwardsloping.•Itisflatterthatthedomesticsupplycurveintheexportingcountry.BasicTariffAnalysisSlide8-14Copyright©2003PearsonEducation,Inc.Figure8-3:WorldEquilibriumXSPrice,PQuantity,QMDPWQW1BasicTariffAnalysisSlide8-15Copyright©2003PearsonEducation,Inc.Usefuldefinitions:•Thetermsoftradeistherelativepriceoftheexportablegoodexpressedinunitsoftheimportablegood.•Asmallcountryisacountrythatcannotaffectitstermsoftradenomatterhowmuchittradeswiththerestoftheworld.Theanalyticalframeworkwillbebasedoneitherofthefollowing:•Twolargecountriestradingwitheachother•AsmallcountrytradingwiththerestoftheworldBasicTariffAnalysisSlide8-16Copyright©2003PearsonEducation,Inc.EffectsofaTariff•Assumethattwolargecountriestradewitheachother.•SupposeHomeimposesataxof$2oneverybushelofwheatimported.–Thenshipperswillbeunwillingtomovethewheatunlessthepricedifferencebetweenthetwomarketsisatleast$2.•Figure8-4illustratestheeffectsofaspecifictariffof$tperunitofwheat.BasicTariffAnalysisSlide8-17Copyright©2003PearsonEducation,Inc.XSPTMDD*S*DSPW2QT1QWBasicTariffAnalysisFigure8-4:EffectsofaTariffP*T3tPrice,PQuantity,QPrice,PQuantity,QPrice,PQuantity,QHomemarketWorldmarketForeignmarketHomemarketWorldmarketForeignmarketSlide8-18Copyright©2003PearsonEducation,Inc.•Intheabsenceoftariff,theworldpriceofwheat(Pw)wouldbeequalizedinbothcountries.•Withthetariffinplace,thepriceofwheatrisestoPTatHomeandfallstoP*T(=PT–t)atForeignuntilthepricedifferenceis$t.–InHome:producerssupplymoreandconsu