INCREASING EXPORT DUTY ON SCRAP METAL TO ELIMINATE RESOURCE DEFICIT IN METAL INDUSTRY AS A MECHANISM FOR ECONOMIC DEVELOPMENT
Journal Title: Вісник Одеського національного університету. Економіка. - Year 2017, Vol 22, Issue 10
Abstract
The article discloses and generalizes the main preconditions for the introduction of such a mechanism of scrap exports regulation as an export duty increase to eliminate the shortage of this raw material on the domestic market and promote the development of the national economy. The paper also investigates the effects of high export duty on scrap metal, i.e. its impact on production, jobs, tax revenues, etc. According to the GTAP economic modeling, metal scrap export duty increase from 10 to 30 Euro per ton will result in 49.3 per cent decrease in its export, increase of domestic production of ferrous metals by 2.8 per cent and heavy industry by 0.4 per cent, the level of employment will rise by 0.12 per cent, budget revenues will increase by 45.8 million U.S. dollars. The article demonstrates the results of economic and mathematical modeling of maintaining the increased rate of export duty on scrap metal in the medium term. It studies the international experience of introduction of the barriers to metal scrap export. It is established that Kazakhstan imposed a total ban on the export of ferrous and non-ferrous metal scrap, China has an ad valorem export duty on metal scrap of 40% and India and Pakistan at 15-30%. The work also substantiates the legitimacy of the introduction by Ukraine of an increased duty on the ferrous metal scrap export and its further preservation. It is also established that Ukrainian legislation on metal scrap export does not contradict international trade law under the WTO.
Authors and Affiliations
V. HALASIUK
Keywords
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- EP ID EP552451
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