Cocoa is a classic Third World cash crop. It is produced mostly by small, poor farmers in Africa, while its products - chocolate and sun tan oil - are consumed by rich consumers in North America and Europe. A few West African economies are highly dependent on foreign exchange earned from cocoa...

Contents: The Economics of Tariff Rate Quotas and the Effects of Trade Liberalization; TRQs and GATT Rules; An Overview of Tariffs, Quotas and Imports Worldwide; TRQs in the European Union; U.S. TRQs for Sugar, Tobacco and Peanuts; Dairy TRQs in the United States; Tariff Rate Quota Implementation...

Most agricultural export subsidies are targeted to specific countries. This paper demonstrates that in a standard general equilibrium model of international trade, a small targeted subsidy increase the welfare of the subsidizing country by exploiting differences in price responsiveness of demand...