Measuring the Restrictiveness of Trade Policy |
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| Authors: | Anderson James E; Neary J Peter |
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| Institution: | James E. Anderson is with the Department of Economics at Boston College, and J. Peter Neary is with the Department of Economics at University College Dublin, the London School of Economics, and the Centre for Economic Policy Research, London. This article reports on research that was supported by the World Bank and it was written while the second author was visiting the University of Ulster at Jordanstown. Comments from Will Martin and three anonymous referees are gratefully acknowledged. |
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| Abstract: | This article provides an introduction to the trade restrictivenessindex (TRI), which equals the uniform tariff that is welfareequivalent to a given pattern of trade protection. Unlike standardmeasures of trade restrictiveness, the TRI has a solid theoreticalbasis, can incorporate both tariffs and quantitative restrictions,and can be adapted to construct the trade policy equivalentof domestic distortions. The article compares a number of applicationsand describes procedures for operationalizing the TRI on a personalcomputer. The authors conclude that the TRI has considerablepotential in empirical work. |
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