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Macroeconomic Conditions and Import Surcharges in Selected Transition Economies

Piritta Sorsa

International Monetary Fund (IMF)

May 1999

IMF Working Paper No. 99/62

Analysis on macroeconomic determinants of protection in the Czech and Slovak Republics, Hungary, and Poland, while subject to many caveats, suggests that appreciation of the real exchange rate was the main macroeconomic determinant of trade policy reversals in the 1990s. This suggests that balance of payments difficulties may have been used as an excuse for protection. The analysis also suggests that greater exchange rate flexibility and tighter fiscal policies could have been used instead of import surcharges to deal with external imbalances. The surcharges may only have aggravated the external balance by slowing down exports and restructuring of production.

Number of Pages in PDF File: 23

Keywords: Trade liberalization, exchange rates

JEL Classification: F13, F49

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Date posted: February 13, 2006  

Suggested Citation

Sorsa, Piritta, Macroeconomic Conditions and Import Surcharges in Selected Transition Economies (May 1999). IMF Working Paper, Vol. , pp. 1-23, 1999. Available at SSRN: http://ssrn.com/abstract=880589

Contact Information

Piritta Sorsa (Contact Author)
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
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