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An Estimated Trade Restrictiveness Index of the Level of Protection in Australian Manufacturing
Author(s) -
Lloyd Peter,
MacLaren Donald
Publication year - 2008
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.2008.00507.x
Subject(s) - restrictiveness , index (typography) , welfare , economics , series (stratigraphy) , manufacturing , econometrics , business , computer science , market economy , marketing , paleontology , philosophy , linguistics , world wide web , biology
Abstract In this paper we provide a new 31‐year time series of the level of protection in the Australian manufacturing sector. The index used is an estimate of the partial equilibrium form of the Trade Restrictiveness Index recently developed by the World Bank. This is the theoretically correct welfare based average of levels of nominal protection. The paper outlines the index and its properties. Some comments are made on the insights gained from the new series and on the record of the Labor and coalition governments in making reforms to industry assistance.