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Free Trade Areas and International Rivalry
Kar-yiu Wong 한국무역학회 2007 國際學術大會 論文集 Vol.2007 No.12
This paper analyzes and compares the effects of two policy options of regional economic integration for two countries that have firms producing similar products and selling them to a third country. One option is to form an free trade area (FTA) with the third country and the other one is to form an FTA with each other. Because of the rivalry between the firms, the countries generally find it more beneficial to have an FTA with the third country in order to capture a bigger market share.
Strategic Export Subsidies under a Budget Constraint: Ad Valorem versus Specific
( Kar Yiu Wong ),( Hong Hwang ),( Kaz Miyagiwa ) 세종대학교 경제통합연구소 1997 Journal of Economic Integration Vol.12 No.1
This note shows that in the Brander-Spencer model of export subsidy, if there is no cost of financing subsidies, either a specific export subsidy or an ad valorem export subsidy can be used to achieve the same maximum welfare level. If, however, there is a binding budget constraint, a specific subsidy dominates an ad valorem subsidy. (JEL Classification: F13)
Free Trade Areas and International Rivalry
Kar-yiu Wong 한국무역학회 2007 한국무역학회 국제학술대회 Vol.2007 No.12
This paper analyzes and compares the effects of two policy options of regional economic integration for two countries that have firms producing similar products and selling them to a third country. One option is to form an free trade area (FTA) with the third country and the other one is to form an FTA with each other. Because of the rivalry between the firms, the countries generally find it more beneficial to have an FTA with the third country in order to capture a bigger market share.
Kar-yiu Wong 한국무역학회 2008 한국무역학회 국제학술대회 Vol.2008 No.12
In this paper, we examine the import policies of a country importing a good from monopolistic firms located in two different countris. The government of this country should take into account the monopoly power of the firms and the competition between them. The questions we focuses on are, how a change in tariff may affect domestic welfare? What are the optimal tariff with respect to each or both of the exporting countries? Is a free trade area (FTA) with one or both of the exporting beneficial? Some of the more interesting results are: a trade creating FTA may not be beneficial and if an FTA with one of the countries is to be formed, China should choose one with a higher marginal cost to be the partner. These results may be counter-intuitive and are not compatible with Viner's conclusions. The conclusions reached in this paper can be used to show the risk of direct application of Viner's approach in many empirical studies concerning the welfare effects of free trade areas.
Kar-yiu Wong 韓國貿易學會 2008 國際學術大會 論文集 Vol.2008 No.12
In this paper, we examine the import policies of a country importing a good from monopolistic firms located in two different countris. The government of this country should take into account the monopoly power of the firms and the competition between them. The questions we focuses on are, how a change in tariff may affect domestic welfare? What are the optimal tariff with respect to each or both of the exporting countries? Is a free trade area (FTA) with one or both of the exporting beneficial? Some of the more interesting results are: a trade creating FTA may not be beneficial and if an FTA with one of the countries is to be formed, China should choose one with a higher marginal cost to be the partner. These results may be counter-intuitive and are not compatible with Viner's conclusions. The conclusions reached in this paper can be used to show the risk of direct application of Viner's approach in many empirical studies concerning the welfare effects of free trade areas.
Price Controls in a Simple Competitive Monetary Model of a Small Open Economy
( Marcelo Bianconi ),( Kar Yiu Wong ) 세종대학교 경제통합연구소 1996 Journal of Economic Integration Vol.11 No.1
We construct a simple monetary general equilibrium model of a small open economy to examine the effects of three price intervention policies. We find that, under fixed exchange rates, a small intervention on the producer`s price of the domestically produced non-traded good or a small revaluation of the exchange rate improves current welfare but deteriorates the trade balance. We apply the theory of economic policy to show that, if the government can impose more than one policy instrument, it is possible to improve national welfare without affecting the trade balance.
Price Controls in a Simple Competitive Monetary Model of a Small Open Economy
Bianconi, Marcelo,Wong, Kar Yiu 세종대학교 국제경제연구소 1996 Journal of Economic Integration Vol.11 No.1
We construct a simple monetary general equilibrium model of a small open economy to examine the effects of three price intervention policies. We find that, under fixed exchange rates, a small intervention on the producer's price of the domestically produced non-traded good or a small revaluation of the exchange rate improves current welfare but deteriorates the trade balance. We apply the theory of economic policy to show that, if the government can impose more than one policy instrument, it is possible to improve national welfare without affecting the trade balance.
Strategic Export Subsidies under a Budget Constraint : Ad Valorem versus Specific
Hwang, Hong,Miyagiwa, Kaz,Wong, Kar-yiu 세종대학교 국제경제연구소 1997 Journal of Economic Integration Vol.12 No.1
This notes shows that in the Brander-Spencer model of export subsidy, if there is no cost of financing subsidies, either a specific export subsidy or an ad valorem export subsidy can be used to achieve the same maximum welfare level. If, however, there is a binding budget constraint, a specific subsidy dominates an ad valorem subsidy.(JEL Classification: F13)