The developing capital market in Malaya

Abstract

Tariffs influence four aspects of an economy : the pattern of production , the pattern of trade , the d istribution of income , and the terms of trade . The Australian tariff is very discriminatory in nature , and is important especially for its influence on the domestic production of certain products , and on the pattern of imports . This study is concerned wit0 the calculation of average tariffs on certain defined products . The averaging of tariffs is important in assessing the protective effect of the tariff . However , it is not the only information needed. Data on demand and supply elasticities is also necessary . Such topics are , however , beyond the scope of this thesis .