Alternative trade strategies and employment in the Argentine manufacturing sector |
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Authors: | Julio J Nogus |
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Institution: | The World Bank, Washington, D.C., USA |
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Abstract: | The paper analyses the employment effects of alternative trade strategies within the manufacturing sector. Estimates of effective protection rates show that Argentinian import substitution (I-S) policies have severely discriminated against exportable manufacturing industries. In turn these industries are shown to be at least 15% more labour-intensive than import-competing industries. Export promotion (EP) policies are characterized by low and relatively uniform protection to domestic and export sales together with the maintenance over time of a realistic exchange rate. The adoption of this strategy would imply a radical departure from I-S policies of escalated incentives and overvalued exchange rates which, as shown in the paper, have on average favoured capital-intensive industries. |
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