Trade Adjustment Policies and Income Distribution in Three Archetype Developing Economies

摘要

This paper explores quantitatively the macroeconomic and distributional impacts on non-oil producing, semi-industrial developing countries of external shocks originating in the world economy--in particular, rising costs of imports and shrinking export markets. The empirical effects of the same external shock are modelled for three different archetype economies: a primary exporter, a manufacturing exporter, and a closed economy. Three different policy-adjustment regimes are considered: devaluation, premium rationing of imports (import licenses), and premium rationing in an environment with a fixed real wage for unskilled labor. (Copyright (c) 1980 by The World Bank.)