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Revenue Seeking: A Generalization Of The Theory Of Tariffs – A Correction, Jagdish N. Bhagwati, T.N. Srinivasan
Revenue Seeking: A Generalization Of The Theory Of Tariffs – A Correction, Jagdish N. Bhagwati, T.N. Srinivasan
Faculty Scholarship
In our paper on "Revenue Seeking: A Generalization of the Theory of Tariffs" (1980), we extended the theory of tariffs to include revenue seeking. We also compared tariffs with quotas, under seeking activities associated with the revenues from the former and with the rents (i.e., license premia) from the latter.
Directly Unproductive, Profit-Seeking (Dup) Activities, Jagdish N. Bhagwati
Directly Unproductive, Profit-Seeking (Dup) Activities, Jagdish N. Bhagwati
Faculty Scholarship
This paper proposes directly unproductive, profit-seeking (DUP) activities as a general concept that embraces a wide range of recently analyzed economic activities, including the subset of rent-seeking activities considered by Krueger. It then proceeds to provide a syn-thesis and generalization of the welfare-theoretic analysis of such activities by developing a fourfold categorization of cases depending on the levels of distortions before and after the DUP activity. Thus a unification and overview of the subject are achieved.
Foreign Ownership And The Theory Of Trade And Welfare, Richard A. Brecher, Jagdish N. Bhagwati
Foreign Ownership And The Theory Of Trade And Welfare, Richard A. Brecher, Jagdish N. Bhagwati
Faculty Scholarship
Some standard topics in the theory of international trade are reconsidered in this paper by distinguishing between national and aggregate income when fixed supplies of foreign inputs are present within the home country. Under conditions that would ensure a national welfare gain if' foreign ownership were absent, international transfer, economic growth, or tariff policy might cause a national welfare loss in the presence of foreign ownership. The techniques developed could be applied to other domestic distinctions (such as those based on race, sex, age, or ethnicity) and to the theory of' customs unions in a three-country world.
Revenue Seeking: A Generalization Of The Theory Of Tariffs, Jagdish N. Bhagwati, T.N. Srinivasan
Revenue Seeking: A Generalization Of The Theory Of Tariffs, Jagdish N. Bhagwati, T.N. Srinivasan
Faculty Scholarship
The theory of commercial policy has recently addressed three phenomena: (i) tariff (quota) seeking or lobbying by potential beneficiaries for the imposition of a tariff (quota), (ii) tariff (quota) evasion, and (iii) rent seeking or lobbying for getting an allocation of the import quota to earn the rents generated. Revenue seeking or lobbying to secure a share in the disposition of the tariff revenues is analyzed here. It is shown that revenue seeking may, even for a small country, result in a reduction in importable output. Furthermore, revenue seeking may be welfare improving. Rent seeking may be welfare improving as …
Shadow Prices For Project Selection In The Presence Of Distortions: Effective Rates Of Protection And Domestic Resource Costs, T.N. Srinivasan, Jagdish N. Bhagwati
Shadow Prices For Project Selection In The Presence Of Distortions: Effective Rates Of Protection And Domestic Resource Costs, T.N. Srinivasan, Jagdish N. Bhagwati
Faculty Scholarship
The paper addresses the problem of deriving shadow prices for use in project evaluation when the existing allocation is characterized by ad valorem trade distortions. The analysis is used to clarify and resolve the long-standing debate among effective-rate-of-protection and domestic resource-cost proponents as to the respective merits of their measures as methods of project evaluation. The derivation of shadow factor prices is then extended to three major factor market imperfections familiar from extensive trade-theoretic analysis.