Anticipatory effects of voluntary export restraints: a study of home video cassette recorders market, 1978-86 |
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Authors: | Hiroshi Ohashi |
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Institution: | Faculty of Commerce, University of British Columbia, 2053 Main Mall, Vancouver BC, Canada, V6T 1Z2 |
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Abstract: | This paper investigates the impact of voluntary export restraints (VERs) at the pre-implementation stage when exporters have a good prospect for the VERs. Distinctive features of the VCR market in 1978-86 provide a testable hypothesis to analyze the effect of the EC-Japan VERs, which were implemented in the fiscal years of 1983-85. The paper finds consistent evidence that the VERs affected firms’ pricing behavior in the U.S. market prior to the VER period, as a result of Japanese exporters’ anticipation of the VERs. |
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Keywords: | Voluntary export restraints Anticipation Supply constraint Video cassette recorders |
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