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Market Disruption and the Incidence of VERs under the MFA

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  • Dean, Judith M

Abstract

Market disruption or the threat thereof constitutes grounds for restraining countries under the U.S. Multifibre Arrangement (MFA). Since 1980, however, countries accounting for very small shares of U.S. imports have been restrained. This study estimates the determinants of U.S. voluntary export restraints under MFA I and MFA II-III using a bivariate probit model with sample selection. Results show a shift from targeting large developing country exporters to targeting those that are small but have rapidly growing sales. This raises the cost of the MFA to the United States. It also suggests that expansion of exports by developing countries will be met by restrictions on market access. Copyright 1995 by MIT Press.

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  • Dean, Judith M, 1995. "Market Disruption and the Incidence of VERs under the MFA," The Review of Economics and Statistics, MIT Press, vol. 77(2), pages 383-388, May.
    • Handle: RePEc:tpr:restat:v:77:y:1995:i:2:p:383-88
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    Cited by:

    1. Bown, Chad, 2019. "The 2018 US-China Trade Conflict After 40 Years of Special Protection," CEPR Discussion Papers 13695, C.E.P.R. Discussion Papers.
    2. Bown, Chad & Crowley, Meredith A., 2016. "The Empirical Landscape of Trade Policy," CEPR Discussion Papers 11216, C.E.P.R. Discussion Papers.
    3. Conway, Patrick, 2009. "Trade liberalization in textiles: Policy effects in an import-competing industry," Journal of Policy Modeling, Elsevier, vol. 31(5), pages 664-680, September.

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