‘True protection’ concepts and their role in evaluating trade policies in LDCs

Abstract

In many LDCs it is not uncommon to find incentives designed to encourage import substitution activities coexisting alongside incentives aimed at encouraging export activities. This article evaluates a recent approach to evaluating commercial policy which, among other things, highlights some of the implications of simultaneously pursuing import substitution and export promotion. The study develops a model which emphasises the ‘incidence’ of protection and identifies the concept of true protection. Empirical results for a number of LDCs are discussed and the implications of these results evaluated. In addition, the article contrasts this approach with the effective protection approach to evaluating commercial policy.

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