The Value of Administered Protection: A Capital Market Approach
The Review of Economics and Statistics
1986
The focus of this paper i s on the escape clause petitions filed under the Trade Act of 1974 (Section 201). First, the capital marketevent study method is used to analyze the effects of protection decisions. Then, cross-section regressions are performed to examine the influence of key variables on the observed market reaction. The authors conc lude that while protection is beneficial to beleaguered industries, the extent o f such benefits is quite narrowly circumscribed and is conditional on internal v ariables for each firm. Protection is thus not the panacea that its advocates cl aim. Copyright 1986 by MIT Press.
- DOI
- 10.2307/1924520
- Volume
- 68 (4)
- Pages
- 610
- Export
- BibTeX
- Sources
- openalex crossref