Firm Restructuring and the Optimal Speed of Trade Reform.

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Serval ID
serval:BIB_1894
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Firm Restructuring and the Optimal Speed of Trade Reform.
Journal
Oxford Economic Papers
Author(s)
Bacchetta P., Dellas H.
ISSN
0030-7653
Publication state
Published
Issued date
1997
Peer-reviewed
Oui
Volume
49
Number
2
Pages
291-306
Language
english
Abstract
We study the consequences and optimality of alternative speeds of trade liberalization when investment (restructuring) activities help firms learn their true level of efficiency and determine survival prospects In contrast to the existing literature, we find that a gradual trade reform might be preferred when authorities are more preoccupied with the longer term. We also show that costs of business closures have an ambiguous impact on the optimal pace of liberalization.
Web of science
Open Access
Yes
Create date
19/11/2007 10:40
Last modification date
01/10/2019 7:17
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