Trade Liberalisation and Shadow Prices in the Presence of Tariffs and Quotas
研究一个能影响世界价格且贸易受关税和配额限制的经济体中，贸易自由化与经济增长的福利效应，推导商品、外汇和要素的影子价格，并推广标准结果。
This paper examines the welfare effects of trade liberalisation and economic growth in an economy which is large enough to influence world prices and in which trade is restricted by both tariffs and quotas. I derive general expressions for shadow prices of goods and foreign exchange and use them to generalise the standard radial reduction and concertina reform results. I also derive a general expression for shadow prices of factors of production and use it to synthesise the classic results of Bhagwati and Johnson on immiserizing growth. Finally, I develop a new geometric technique to illustrate the results.