Upgrade to remove ads

Only $2.99/month

Voluntary Export Restraints

Terms in this set (3)

A case where an importing nation induces the exporting nation to reduce its exports 'voluntarily,' under the threat of higher all-round trade restrictions, when these exports threaten an entire domestic industry.

VERs have been phased out under the Uruguay Round.

When successful, they have all the economic effects of an equivalent import quota, except that they are administered by the exporting nation, and so the revenue effect is captured by the foreign exporters.

THIS SET IS OFTEN IN FOLDERS WITH...

Trade-Creating Customs Union

17 terms

Trade-Diverting customs union

19 terms

Mercantilists

6 terms

The Basic Principles of the World Trade Organisati…

5 terms

OTHER SETS BY THIS CREATOR

Regional Aproach to Trade Liberalisation

5 terms

Effects of FDI on the Host and Source Country

18 terms

Motives of FDI

7 terms

Arguments for Protection

17 terms