The Non‐Equivalence of Equivalent Restrictions: A Further Example

Abstract

Voluntary export restraints (VERs) have been widely used in recent years. VERs may be applied on a quantity or a ratio basis. A simple non‐equivalence between volume and ratio VERs is noted and potential political economy aspects are commented on.

Citation

Greenaway, D. (1989), "The Non‐Equivalence of Equivalent Restrictions: A Further Example", Journal of Economic Studies, Vol. 16 No. 1. https://doi.org/10.1108/EUM0000000000128