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Necessarily Welfare-Enhancing Customs Unions With Industrialization Constraints : The Cooper-Massel-Johnson-Bhagwati Conjecture
Oleh:
Bhagwati, Jagdish
;
Krishna, Pravin
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
JAPAN AND THE WORLD ECONOMY vol. 9 no. 4 (1997)
,
page 441-446.
Topik:
INDUSTRIALIZATION
;
welfare
;
customs unions
;
industrialization
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ47.7
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
This paper demonstrates that welfare - improving Customs Unions can be guaranteed even if we are constrained by specific non - economic government objectives, thus proving the Cooper - Massell - Johnson - Bhagwati conjecture. We consider a 'production’ objective here, where a member country requires the output of a particular sector (e. g. a target level of industrialization) to be maintained at the pre - union level, and show that welfare - improving Customs Unions can still be achieved. It is straight forward to show that this result can be extended to other non - economic objectives as well.
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