Specific Factor and Optimal Intervention to Achieve Non‐Economic Objectives

Abstract

In this article the author explores the optimal policies to achieve non‐economic objectives in the presence of a specific factor and demonstrates that the same policies—though not necessarily at the same level—are required as in the traditional two‐by‐two trade model. In addition, it is shown that a direct subsidy on the specific factor will be the optimal policy for the exploitation of domestic‐owned resources.

Citation

Wang, L.F.S. (1983), "Specific Factor and Optimal Intervention to Achieve Non‐Economic Objectives", Journal of Economic Studies, Vol. 10 No. 2, pp. 50-54. https://doi.org/10.1108/eb002557