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International Transfers: Strategic Losses and the Blocking of Mutually Advantageous Transfers

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  • Yano, Makoto

Abstract

Recent studies indicate the possibility that, in the more-than-two-country model, a coalition may block a competitive equilibrium by means of mutually advantageous transfers among its members. This study demonstrates that even the equilibrium which is to be established after a mutually advantageous transfer may be blocked. In order to form a blocking coalition, a country may take a strategic loss, i.e., give or receive a transfer which reduces its own utility. This provides a possible reason why a country may, not out of benevolence, give or receive a transfer which it knows to reduce its own utility. Copyright 1991 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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  • Yano, Makoto, 1991. "International Transfers: Strategic Losses and the Blocking of Mutually Advantageous Transfers," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(2), pages 371-382, May.
    • Handle: RePEc:ier:iecrev:v:32:y:1991:i:2:p:371-82
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    Cited by:

    1. Trisha Bezmen, 2006. "Foreign Aid under Quantitative Restrictions: Welfare Effects and International Factor Mobility," Review of International Economics, Wiley Blackwell, vol. 14(4), pages 709-721, September.
    2. Lahiri, Sajal & Raimondos, Pascalis, 1995. "Welfare effects of aid under quantitative trade restrictions," Journal of International Economics, Elsevier, vol. 39(3-4), pages 297-315, November.
    3. Yano, Makoto, 2021. "Professor Ronald W. Jones and his influence on Asia Pacific economics," Journal of Asian Economics, Elsevier, vol. 77(C).

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