ABSTRACT
This chapter analyses the effects of preferential import quotas and 'voluntary' export restraints, focusing on the effects on the exporting countries. In a survey on trade policy aspects of quantitative trade barriers Corden is a natural starting point. Corden analyses primarily the case of a global import quota and its effect in the importing home country. A global import quota does not have the source constraint II and is neutral as to the origin of imports. An important question is to try and determine whether the exporting or the importing country will capture the rent. Considering the export restraint, it is clear that in a static analysis the exporting country captures the whole rent, as the export restraint is always source specific, whereas the import quota can be either global or source specific. The preferential import quota or export restraint can be of two types, both of which seem to be of considerable practical interest.
