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Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion

Author

Listed:
  • Hudson, Darren
  • Ethridge, Don E.
  • Mutuc, Maria Erlinda M.

Abstract

While the elimination of the Multifibre Arrangement (MFA) was presumed to be a net global benefit because it represented an elimination of a distortionary set of trade agreements, it was based on the assumption that the underlying global trading regime was based on free trade principles. However, due to the trading pattern that has emerged after the MFA and its unintended consequences – with production infrastructure and trading rules based on distortionary incentives so entrenched into the system – the global trading regime after the elimination of quotas is still far short of free.

Suggested Citation

  • Hudson, Darren & Ethridge, Don E. & Mutuc, Maria Erlinda M., 2011. "Lessons Learned from the Phase-out of the MFA: Moving from Managed Distortion to Managed Distortion," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 12(1), pages 1-15, May.
    • Handle: RePEc:ags:ecjilt:104063
    DOI: 10.22004/ag.econ.104063
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    References listed on IDEAS

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    4. Kenneth A. Reinert, 2000. "Give Us Virtue, But Not Yet: Safegaurd Actions Under the Agreement on Textiles and Clothing," The World Economy, Wiley Blackwell, vol. 23(1), pages 25-55, January.
    5. Jinmin Wang & Jiebing Wu & Xianguo Yao, 2008. "The expansion of textile and clothing firms of China to Asian Least Developed Countries: The Case of Cambodia," Working Papers 6008, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    6. Unknown, 2001. "General Discussion," Proceedings of the 6th Agricultural and Food Policy Systems Information Workshop, 2000: Trade Liberalization Under NAFTA: Report Card on Agriculture 16839, Farm Foundation, Agricultural and Food Policy Systems Information Workshops.
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