Open AccessThe Economics of Fair Trade
Author(s) -
Raluca Dragusanu,
Daniele Giovannucci,
Nathan Nunn
Publication year - 2014
Publication title -
the journal of economic perspectives
Language(s) - English
Resource type - Journals
eISSN - 1944-7965
pISSN - 0895-3309
DOI - 10.1257/jep.28.3.217
Subject(s) - fair trade , economics , certification , trade barrier , product (mathematics) , international trade , point (geometry) , international economics , geometry , mathematics , management
Fair Trade is a labeling initiative aimed at improving the lives of the poor in developing countries by offering better terms to producers and helping them to organize. In this survey, we provide a critical overview of the economic theory behind Fair Trade, describing the potential benefits and potential pitfalls. We also provide an assessment of the empirical evidence of the impacts of Fair Trade to date.
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