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What is Economics of Subsidies in Trade about?

This document discusses the economics of subsidies and their impact on international trade. It begins by establishing a benchmark of perfectly competitive markets, where subsidies are inefficient and reduce welfare. However, if markets are imperfect, subsidies may correct failures and improve welfare. The document examines how subsidies affect trade depending on whether they support import-competing or export-competing industries. Production subsidies distort the market and reduce welfare, while export subs

Author

dyna

Language

EN