Problem:
The Uruguay Round of GATT began a procedure of phasing out the employ of voluntary export restraints. Why did they come in widespread employ in the 1980’s? For illustration, given that VERs is a form of quotas, and that they were create quota rents and the larger reduction in national welfare than tariffs, why did nations employ them instead of tariffs?
Additional Requirements:
Min Pages: 1
Level of Detail: Only answer needed