By Anne O. Krueger
Exploring the political and fiscal determinants of alternate safety, this learn presents a wealth of knowledge on key American industries and records the method of looking and conferring protection.Eight analytical histories of the auto, metal, semiconductor, lumber, wheat, and fabric and clothing industries display that alternate limitations hardly ever have unequivocal merits and should be counterproductive. They convey that standards for awarding defense don't take note of the pursuits of shoppers or different industries and that political impact and an geared up foyer are significant resources of protection.Based on those findings, a last essay means that present coverage fails to think about thoroughly financial potency, the general public sturdy, and oblique unwanted effects. This quantity will curiosity students in economics, enterprise, and public coverage who care for exchange matters.
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Additional resources for The Political Economy of American Trade Policy (National Bureau of Economic Research Project Report)
S. semiconductor firms were cautious about investing in additional production capacity. S. capacity when semiconductor demand surged in 1977-even IBM entered the merchant market as a purchaser of DRAMs. S. producers could not meet. Japan seized 40 percent of the 16K DRAM market by 1979. This situation repeated itself in the next recession of 1981-82. S. firms had caught up and became well established in the 16K market. Japanese firms continued to invest and shifted production up to 64K chips, capturing 70 percent of that market by the end of 1981.
Such industry recessions had occurred in the absence of foreign competition (as in 1974-75), but the rapid buildup of production capacity by Japanese firms (and their willingness to continue production and investment in the face of an adverse cash flow situation, due to the bank ties discussed above) exacerbated the concomitant price collapses when demand was slack. S. industry was a casualty. S. S. industry also complained about the lack of access to Japan’s mar23. This is recounted in Okimoto, Sugano, and Weinstein (1984).
These figures are unadjusted for skill differences. 13. In their sample, 57 percent of workers were rehired, 16 percent became reemployed in other semiconductor or high-technology firms, and 27 percent found employment in other sectors. Workers reemployed in non-high-technology sectors, however, suffered earnings losses of 27-36 percent relative to rehired workers. 14. This does not include contributions by several IBEW local union political action committees (PACs). 21 Trade Politics and the Semiconductor Industry ily on whether the firm was a merchant or captive producer of semiconductors.