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Determinants of Trade Flows and the Effects of Subsidies

  • Geoffrey Denton
  • Seamus O’Cleireacain
  • Sally Ash
Part of the Trade Policy Research Centre book series

Abstract

Some of the likely effects of public subsidies on internal resource allocation were discussed in the preceeding Chapter. It is now appropriate to concentrate attention on the prime issue of the study, namely what effects may the pattern of government assistance, detailed in Chapter 3, be expected to produce on international trade flows? At first glance, these effects might be expected to be minimal, since the study is concerned only with subsidies of a domestic nature aimed at manufacturing industry. Subsidies aimed entirely at the encouragement of exports or of import-substitution are outside the terms of reference, while agricultural subsidies, which probably account for the greatest part of the distortion of world trade, are also excluded. (These last are dealt with in another study for the Trade Policy Research Centre, D. Gale Johnson’s World Agriculture in Disarray, published in 1973.)

Keywords

Unemployment Rate Trade Performance Trade Flow Public Subsidy Trade Effect 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 2.
    D. B. Keesing, “The Impact of Research and Development on United States Trade”, in Peter B. Kenen and Richard Lawrence (eds), The Open Economy (New York: Columbia University Press, 1968), p. 178Google Scholar
  2. 3.
    R. D. Rees and P. R. G. Layard, “The Determinants of United Kingdom Imports”, H.M. Treasury Government Economic Service Occasional Papers (London: HM Stationery Office, 1971).Google Scholar
  3. 4.
    W. A. H. Godley and J. R. Shepherd, “Forecasting Imports”, National Institute Economic Review, London, August 1965, pp. 35–42.Google Scholar

Copyright information

© Trade Policy Research Centre 1975

Authors and Affiliations

  • Geoffrey Denton
    • 1
  • Seamus O’Cleireacain
    • 2
  • Sally Ash
    • 1
  1. 1.University of ReadingUK
  2. 2.State University of New YorkUSA

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