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Title: Estimating Gains from Less Distorted Agricultural Trade
Published in: Working Papers Series
Author/s: Jerry Sharples*
Year: 1987
Number: 87-1
Summary:

A review of recent research suggests that conventional trade models grossly underestimate the country and global gains from trade liberalization. They typically ignore potential sources of gains such as economies of scale; reduced costs of evasion, rent-seeking and lobbying; and X-efficiency associated with competitive trade. Improved estimates of welfare gains should be high on trade economists’ research priority list.