voluntary export restraint

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Voluntary Export Restraint

A situation in which one country agrees to restrict the export of one or more goods to another country. The voluntary export restraint allows a country to protect its internal market for the designated goods without erecting tariff or other trade barriers. A voluntary export restraint may be informal or it may be codified in a voluntary restraint agreement. It may or may not be reciprocal.

voluntary export restraint

see EXPORT RESTRAINT AGREEMENT.
References in periodicals archive ?
South Korea, which has agreed to adopt "voluntary export restraints" in exchange for an exemption from US steel tariffs, is asking its domestic producers' association to allocate export quotas among its members.
In order to reduce the bilateral trade surplus, Japan introduced so-called voluntary export restraints, which hollowed out its real economy, while providing excessive protection to its non-tradable sectors.
If a few symbolic concessions (like the voluntary export restraints to which Japan agreed in the '80s) could prevent a collision, China may make them.
If a few symbolic concessions (like the voluntary export restraints to which Japan agreed in the 1980s) could prevent a collision, China may make them.
The voluntary export restraints (VERs) of the 1980s in autos and steel, for example, were administered by the exporting countries.
For example, past studies have shown that corporate export behavior which portended the introduction of voluntary export restraints did have a brief, but large, impact on supply and demand in the market (gAnticipatory Effects of Voluntary Export Restraints: A Study of Home Video Cassette Recorders Marketh, by Hiroshi Ohashi, Journal of International Economics, 2002).
He discusses the challenges involved in reforms, adjusting to the rapidly shifting external environment of the 1970s and 1980s, and growth from 1972-2006; trade policies, market structure, and market access, including pricing policy under double market power, the influence of increased foreign competition on industrial concentration and profitability, the effects of trade reforms on scale and technical efficiency, voluntary export restraints, and NAFTA (North American Free Trade Agreement); the political economy of regional trade agreements and migration; and globalization and environmental policies.
The Canadian state worried that if the US successfully negotiated voluntary export restraints, Japan would simply channel its exports to Canada, overwhelming its small domestic market.
of Virginia) introduces key concepts of international economics through contemporary headlines often of interest to students, incorporating a simplified account of the Melitz model, two offshoring models, and the Kala Krishna theory of voluntary export restraints. The undergraduate textbook examines oligopoly as imperfect competition, the effect of free trade on American workers, the role of the WTO, the relationship between globalization and child labor, and the trade deficit as a symptom of citizens not saving enough.
Lal also condemns other forms of nontariff protection, such as antidumping laws and the "voluntary export restraints" that offer money taken from U.S.
domestically produced automobiles and, hence, that Japanese voluntary export restraints were not binding; pre-1986 results are inconclusive, but consistent with binding voluntary export restraints
Included here are import-licensing schemes, antidumping duty actions, tariff-rate quotas, price actions, import quotas, and voluntary export restraints (VERs).
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