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PROTECTION STRATEGIES FOR AUSTRALIA
Author(s) -
Edwards Geoff W.
Publication year - 1977
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1977.tb00206.x
Subject(s) - argument (complex analysis) , commission , pareto optimal , pareto principle , economics , resource (disambiguation) , business , environmental economics , international trade , industrial organization , operations management , computer science , multi objective optimization , finance , computer network , biochemistry , chemistry , machine learning
The Industries Assistance Commission and the Green Paper on Rural Policy support different protection strategies. Both strategies allow the achievement of a pattern of protection consistent with Pareto‐efficiency. The Green Paper on Manufacturing proposed an approach to tariffs that would perpetuate inefficient resource allocation. The argument of the lAC and the Green Papers on protection policy is examined. A programme of across the board reductions in protection leading to free trade, modified for terms of trade effects, is suggested. It is also argued that initial increases in assistance for low cost industries are not inconsistent with such a programme.