When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with the terms of trade change. Several recent analyses...

Cover -- Contents -- List of Figures and Illustrations -- Acknowledgements -- Preface -- 1. The Chancer: Negotiating BAE's First Saudi Deals (1963-66) -- 2. Hand in Glove: Whitehall's Involvement in Bribery Schemes (1968-73) -- 3. The 'Deniable Fiddle': Dealing with the Saudi Arabian National...

Introduction -- Limitations of Voluntary Restraints -- Follies of Voluntary Restraints: Politics and Economics -- CD Players: Laster Light at the End of the Tunnel -- Meeting the Challenge: Blind Alley of New Protection -- Trade Rules and Struggle for Margin -- Market Structure and Dumping --...

Antidumping (AD) petitions are often withdrawn in favor of VERs and price undertakings. We compare foreign firms’ incentive to engage in foreign direct investment (FDI) under a VER and a price undertaking, with special emphasis on foreign rivalry. We show that a VER is less likely to induce...