Imports of the Industrialized Countries: Influences of Wealth and Size

Abstract

The previous chapter discussed some of the factors that might have been important influences on the import levels of the industrialized countries. The present chapter provides a broad survey of the overall import levels for twenty-three industrialized nations. The general effects that size and wealth could have had on the propensities to import are determined. Isolating the effects of wealth and size on per capita import levels is important in order to have some indication of the influences that overall government policies could have had on import levels. Such controls are essential for determining levels of revealed protection present in different countries. Failure to control for such variables would make it extremely difficult to have any idea of the effects of such government action.