Trade Restrictiveness and Pollution
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This paper proposes a trade restrictiveness indicator that explicitly incorporates
environmental externalities. The index employs directional distance functions and use indicators
(i.e. differences rather than ratios) modified to account for and evaluate efficiency changes
in the face of simultaneous and multi-dimensional trade and environmental policy reforms. The
index is made up of two components, one for production and one for consumption. Our overall
trade restrictiveness indicator is accordingly the difference of the two. The properties of the
indicator are developed and discussed together with its estimation.