Front Matter

Front Matter

International Monetary Fund
Published Date:
December 1988
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    © 1988 International Monetary Fund

    Library of Congress Cataloging-in-Publication Data

    Issues and developments in international trade policy.

    (Occasional paper / International Monetary Fund; no. 63)

    Bibliography: p.

    1. International trade. 2. Commercial policy. I. Kelly, Margaret R. II. Series: Occasional paper (International Monetary Fund) ; no. 63.

    HF1379.I85 1988 382’.3 88-32891

    ISBN 9781557750372

    Price: US$7.50

    (US$4.50 university libraries, faculty members, and students)

    Address orders to:

    External Relations Department, Publications Services

    International Monetary Fund, Washington, D.C. 20431


    The following symbols have been used throughout this paper:

    … to indicate that data are not available;

    —to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    – between years or months (e.g., 1984—85 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    / between years (e.g., 1985/86) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    Prefatory Note

    This study was prepared in the Trade and Payments Division of the Exchange and Trade Relations Department of the International Monetary Fund, Its authors are Margaret Kelly, Division Chief; Naheed Kirmani, Assistant Division Chief; Clemens Boonekamp, Senior Economist; and Miranda Xafa and Peter Winglee, Economists. Dan Lee, Philippe Moutot, and Bernhard Fritz-Krockow also made significant contributions to the preparation of this study. The authors are indebted to a number of colleagues, both in the Fund and in other national and international agencies, for their willingness to exchange views and provide information. The authors are grateful to the editor, Elin Knotter, of the External Relations Department, and to Marcela Toso and Barbara Bulcock who typed the bulk of the draft. The authors alone are responsible for the study; any opinions expressed are theirs and do not necessarily reflect the views of the Fund.

    To obtain information and collect views for this paper, staff teams held discussions with trade and economics officials in Bonn, Brussels (the Commission of the European Communities), Canberra, London, Mexico City, Ottawa, Paris, Seoul, Tokyo, Washington, and Wellington. In addition, a staff team visited Geneva and Paris for discussions with GATT and OECD officials. Staff members of the Western Hemisphere Department participated in the discussions held in Ottawa and Washington. Staff members of the European Department participated in the discussions in Bonn, Brussels, London, Paris, and Wellington, and staff members of the Asian Department participated in the discussions in Seoul and Tokyo. While in Europe, the staff team was assisted by the Fund Office in Europe and the Fund Office in Geneva.

    The study reviews major issues and developments in the trade area and outlines the problems in the multilateral trading system that governments face as they seek to liberalize trade in the Uruguay Round of trade negotiations. It follows the pattern of the Fund staff surveys prepared in 1978,1981,1982, and 1985. * As in the latter paper, emphasis is on policy developments in the major trading nations as they relate to trade in both industrial and agricultural products. The survey also includes a review of trade policies in developing countries and refers to available quantitative evidence on protectionism wherever possible.

    The study comprises six sections and five appendices. Section I provides an overview of recent trade policy trends, the major issues facing the multilateral trading system, and the prospects for liberalization in the Uruguay Round of trade negotiations. Section II describes recent trade trends, reviews the overall stance of trade and trade-related industrial policies in major industrial countries, and discusses the causes and costs of protection. Section III examines the trade policies of developing countries and the implications for them of trade restrictions in foreign markets. Section IV describes the recent evolution in the framework for international trade, including the major issues under discussion in the Uruguay Round, and the role of the Fund in trade and its collaboration with GATT. Sections V and VI describe trade actions by major industrial countries in individual agricultural and manufacturing sectors, respectively, including quantitative estimates of the costs of protection in individual sectors. Appendix I describes the trade and trade-related industrial policies of the European Community. Appendix II reproduces the Ministerial Declaration on the Uruguay Round, Appendix III describes the classification of countries and regions used in the paper and Appendix IV provides a glossary. Appendix V contains statistical tables.

    The study was completed in July 1988 and most of the data do not go beyond this period. In the light of subsequently available information, certain data have been updated and a few major developments have been incorporated in the text or in footnotes.

    List of Abbreviations


    African, Caribbean, and Pacific countries


    Common Agricultural Policy (EC)


    Commodity Credit Corporation (United States)


    Consumer subsidy equivalents


    European currency unit


    Export Enhancement Program (United States)


    European Free Trade Association


    European Monetary System


    Effective rate of assistance


    Effective rate of protection


    Functioning of the GATT System (Uruguay Round)


    General Agreement on Tariffs and Trade


    Guaranteed minimum price


    Group of Negotiations on Goods (Uruguay Round)


    Group of Negotiations on Services (Uruguay Round)


    Generalized System of Preferences


    International Dairy Arrangement


    Intellectual property rights


    International Trade Organization


    Livestock Industry Promotion Corporation (Japan)


    Ministry of Agriculture, Forestry and Fisheries (Japan)


    Monetary compensatory amount


    Multifiber Arrangement


    Most-favored-nation (principle)


    Multilateral trade negotiations


    Newly industrializing economies


    Nominal protection coefficient


    Natural re source-based products


    Nontariff measures


    Organization for Economic Cooperation and Development


    Payment in kind (United States)


    Producer subsidy equivalents


    Quantitative restrictions


    Surveillance Body (Uruguay Round)


    Standard International Trade Classification


    Targeted Export Assistance program (United States)


    Trade Negotiations Committee (Uruguay Round)


    Trade-related investment measures (Uruguay Round)


    Trade-related intellectual property rights (Uruguay Round)


    Textile Surveillance Body


    United Nations Conference on Trade and Development


    Voluntary export restraints


    World Economic Outlook

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