Question
The Uruguay Round of the GATT began a process of phasing out the use of voluntary export restraints. Why did they come into widespread use
The Uruguay Round of the GATT began a process of phasing out the use of voluntary export restraints. Why did they come into widespread use in the 1980s? For instance, given that VERs (voluntary export restraints) are a form of quotas, and that they create quota rents and a larger reduction in national welfare than tariffs, why did nations use them instead of tariffs?
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Microeconomics
Authors: Roger A Arnold
13th Edition
1337617407, 9781337617406
