Abstract
For purposes of this paper, commercial policy is defined to include tariffs and other restrictions on imports as well as taxes and subsidies on exports. Since a devaluation is equivalent to the simultaneous application of tariffs on imports and subsidies on exports at equal rates, it will be considered together with commercial policy measures.
This paper has been prepared in the framework of a consultant arrangement with the World Bank. The author is indebted to Dominique de Crayencour for computational assistance.
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Balassa, B. (1977). Effects of Commercial Policy on International Trade, the Location of Production, and Factor Movements. In: Ohlin, B., Hesselborn, PO., Wijkman, P.M. (eds) The International Allocation of Economic Activity. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03196-2_19
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