国际经济学11

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1、Chapter11ControversiesinTradePolicy*Thischapterdescribestwocontroversiesintradepolicythataroseinthe1980sand1990s.1)Strategictradepolicy2)Globalizationandlow-wagelabor§1Sophisticatedargumentsforactivisttradepolicy·Activisttradepolicyisjustifyonlyifthereissomepreexistingdomesticmarketfailure.(Chapt

2、er9)·Economistsidentifiedtwokindsofmarketfailureinadvancedcountries:1)Technologyspilloverinhigh-techindustries.2)Monopolyprofitsinhighlyconcentratedoligopolisticindustries.1.Technologyandexternalities·High-techindustries:investmentinknowledgeisthekeypartoftheenterprises.·Appropriability(MSB)andsu

3、bsidy(Patentlawsprovideonlyweakprotectionforinnovators,thus,underlaissez-fairehigh-techfirmsdonotreceiveasstronganincentivetoinnovateastheyshould.)(Thesameasappropriabilityargumentandinfantindustryprotectionindevelopingcountries)·Theproblemsforgovernmenttosubsidizethehigh-techindustries:1)Theabil

4、itytotargettherightthingAgeneralsubsidyisaprettybluntinstrument.R＆Dsubsidy——Aloosedefinitionorastrictdefinition?2)ThedifficultytoquantitativetheexternalitiesIstheoptimalsubsidy10,20,or100percent?Noonehasagoodidea.Theproblemsofappropriabilityatthelevelofthenation(asopposedtothefirm).2.Imperfectcom

5、petitionandstrategictradepolicy.Insomeindustries,thereareonlyafewfirmineffectivecompetition——Oligopoly.Strategictradepolicy(subsidyorimporttariff)canaltertherulesofgamestoshiftexcessreturnsfromforeigntodomesticfirms.Homesincomerisesatothercountriesexpense.1.TheBrander—Spenceranalysis:BoeingandAir

6、busAssumption:Twocompetitorshavethesametechnology;Decision:eithertoproduce150-seataircraftornot.68Table11-1Two-FirmCompetitionBoeingAirbus-5-50100100000ProduceDon’tproduceProduceDon’tproduce·Whichfirmwillactuallygettheprofits?Thisdependonwhogetstherefirst——Firstmovementadvantage.BysubsidizingAirb

7、us(strategictradepolicy),theEuropeangovernmentcanreversethissituation.Table11-2EffectsofaSubsidytoAirbusBoeingAirbus-5200125100000ProduceDon’tproduceProduceDon’tproduce·Thesubsidyraisesprofitsbymorethantheamountofsubsi