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SCOPUS 학술저널

Quality Shifts and Voluntary Export Restraints from the Perspective of the Exporter`s Home Market

Quality Shifts and Voluntary Export Restraints from the Perspective of the Exporter`s Home Market

This paper discusses the economic impacts of a change in the level of voluntary export restraints (VERS) from the perspective of the exporting country. It is shown that the market condition in the exporting country cannot be ignored unless marginal costs of production are constant. It is also shown that whether quality shifts will occur mainly depend on cost structures and demand elasticities. Without special restrictions on cost structures and demand elasticities, the degree of substitutability between two goods or market structures alone cannot determine the economic impact or quality shifts unambiguously.

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