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1、Chapter 10Export Promotion and other Economic PoliciesvAfter studying this chapter, you should be able to:(1)Know some measures to encourage export(2)Understand the types and effects of subsidies(补贴补贴) on a nations economy(3)Understand why some subsidies are workable and others are prohibited by WTO
2、1 Subsidies1.1 Agreement on Subsidies and Countervailing MeasuresvSubsidy is a financial contribution by a government or any public body. It includes: a direct transfer of funds, potential direct transfers of funds or liabilities; government revenue that is otherwise due is foregone or not collected
3、; a government provides goods or services other than general infrastructure, or purchases goods; a government makes payments to a funding mechanism, or entrusts or directs a private body to carry out one or more of the type of functions illustrated in the above which would normally be vested in the
4、government and the practice, in no real sense, differs from practices normally followed by governments; or: there is any form of income or price support.Types of SubsidiesvProhibited Subsidies(禁止性补贴禁止性补贴): Except as provided in the Agreement on Agriculture, the following subsidies, shall be prohibit
5、ed: (a) subsidies contingent, in law or in fact , whether solely or as one of several other conditions, upon export performance; (b) subsidies contingent, whether solely or as one of several other conditions, upon the use of domestic over imported goods.vActionable Subsides(可诉的补贴可诉的补贴): No Member sh
6、ould cause, through the use of any subsidy, adverse effects to the interests of other Members.vNon-actionable Subsidies(不可诉的补贴不可诉的补贴): (a) subsidies which are not specific; (b) subsidies which are specific but which meet all of the following conditions, such as assistance for research activities con
7、ducted by firms or by higher education or research establishments on a contract basis with firms assistance for research activities conducted by firms or by higher education or research establishments on a contract basis with firms; assistance to disadvantaged regions.1.2 Export SubsidiesExport subs
8、idies are direct payments (or the granting of tax relief(关税优惠关税优惠) and subsidized loans) to the nations exporters or potential exporters and/or low-interest loans to foreign buyers to stimulate the nations exports. As such, export subsidies can be regarded as a form of dumping. vFor example, all maj
9、or industrial nations give foreign buyers the nations exports low-interest loans to finance the purchase through agencies such as the U.S. Export-Import Bank.vAnother example is provided by the U.S. Foreign Sales Corporations provisions of the U.S. tax code. Effects of an Export Subsidy: Small Natio
10、nvAt the free-trade price of Px=$3.50, small Nation 2 produces 35X(AC), consumes 20X(AB), and exports 15X(BC). With a subsidy of $0.50 on each unit of commodity X exported, Px rises to $4.00 for domestic producers and consumers.v At Px=$4, Nation 2 produces 40X(GJ), consumes 10X(GH), and exports 30X
11、(HJ). Domestic consumers lose $7.50(area a+b), domestic producers gain $18.75(area a+b+c), and the government subsidy is $15(b+c+d). The protection cost or deadweight loss of Nation 2 is $3.75(the sum of triangles BHN=b=$2.50 and CJM=d=$1.25).Effects of an Export Subsidy: Large Nation15 20 35 38 Q P
12、3.73.53.2S=0.5vAll conditions are the same as those in the previous case except that Nation 2 is large. With a subsidy of $0.5 on each unit of commodity X exported, Px rises to $3.2 for domestic producers and $3.7 for domestic consumers.v At Px=$3.7, Nation 2 produces 38X(GJ), consumes 15X(GH), and
13、exports 23X(HJ). Domestic consumers lose $3.5(a+b), domestic producers gain $7.3(a+b+c), and the government subsidy is $11.5(b+c+d+shadow). The net loss is shown by (b+d+shadow)=$7.7. vSo, the loss is more in a large nation than in a small nation, among which the shadow area results from the deterio
14、ration in terms of trade.vParticularly troublesome are the very high support prices provided by EU to maintain its farmers income under its common agricultural policy (CAP共同农业政策共同农业政策). These high farm subsidies lead to huge agricultural surpluses and subsidized exports, which take export markets aw
15、ay from U.S. and other countries, and are responsible for some of the sharpest trade controversies between U.S. and EU. CASE STUDY 9-3vIn addition, serious controversies also arise from the subsidies that the EU provides to its aircraft (Airbus) industry and Japans Ministry of International Trade an
16、d Industry (MITI) to its computer and other high-tech industries.1.3 Industrial Policy(产业政策产业政策) - Production SubsidyvIndustrial policy is an activist policy by the government to stimulate the development and growth of some industry (usually a high-tech industry) in an industrial nation.vA productio
17、n subsidy is a direct form of aid that is easy to remove. Its losses were less than export subsidies. However, the subsidy is undertaken completely by government.vSuppose: government vgives subsidies of $0.5von one unit. International price-Domestic price-supplyDemand-export Before subsidy3.53.53520
18、15After subsidy43.5402020Change in welfareconsumer0；producer(a+b+c)；subsidies(-a-b-c-d)；social welfare-d4 0.5 3.5 S a b c d D 20 35 40 15Q P 20SProduction Subsidies: Small NationSubsidy to import-substituted industriesInternational price-Domestic price-supplyDemand-import Before subsidyPwPwQ1Q2Q1Q2After subsidyPwPwQ3Q2Q3Q2Change in welfareconsumer0；producer+a；subsidies(-a-b)；social welfare-b
