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Why Voluntary Export Restraints Are Voluntary: An Extension

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  • Chao-Cheng Mai
  • Hong Hwang

Abstract

This paper presents a conjectural variation approach to examine the conditions under which voluntary export restraints are voluntary. Th e authors have shown that the value of the conjectural variation is a critical factor for determining the effects of voluntary export restraints. In particular, if the free trade equilibrium is more collusive than Cournot, the imposition of voluntary export restraints at the free trade level of imports leads to a reduction in the profit of the foreign firm. Unde r such circumstances, voluntary export restraints are "involuntary," which is contrary to R. Harris's (1985) assertion.

Suggested Citation

  • Chao-Cheng Mai & Hong Hwang, 1988. "Why Voluntary Export Restraints Are Voluntary: An Extension," Canadian Journal of Economics, Canadian Economics Association, vol. 21(4), pages 877-882, November.
    • Handle: RePEc:cje:issued:v:21:y:1988:i:4:p:877-82
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    Citations

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    Cited by:

    1. Kenji Fujiwara, 2010. "When Are Voluntary Export Restraints Voluntary? A Differential Game Approach," Australian Economic Papers, Wiley Blackwell, vol. 49(2), pages 101-110, June.
    2. Luca Lambertini & Arsen Palestini, 2018. "Voluntary Export Restraints in a Trade Model with Sticky Price: Linear and Nonlinear Feedback Solutions," Dynamic Games and Applications, Springer, vol. 8(3), pages 507-518, September.
    3. Mehdi Fadaee & Hamideh Esfahani, 2023. "Do oligopolistic firms benefit from being forced to act non‐strategically?," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(1), pages 127-147, March.
    4. Syropoulos, Constantinos, 1996. "On Pareto-improving voluntary export restraints," International Journal of Industrial Organization, Elsevier, vol. 14(1), pages 71-84.
    5. Mamadou Thiam & Jean-Claude Kouakou Brou & Benur Andrade Varela, 2021. "Export Restrictions and COVID-19," Post-Print hal-03578007, HAL.
    6. Holloway, Garth J., 1995. "Conjectural Variations With Fewer Apologies," Working Papers 225880, University of California, Davis, Department of Agricultural and Resource Economics.
    7. Das, Satya P., 1997. "Strategic managerial delegation and trade policy," Journal of International Economics, Elsevier, vol. 43(1-2), pages 173-188, August.
    8. Catherine C. Langlois & Jean-Pierre P. Langlois, 1996. "Tacit Bargaining in International Relations," Journal of Conflict Resolution, Peace Science Society (International), vol. 40(4), pages 569-596, December.
    9. Calzolari, Giacomo & Lambertini, Luca, 2007. "Export restraints in a model of trade with capital accumulation," Journal of Economic Dynamics and Control, Elsevier, vol. 31(12), pages 3822-3842, December.

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