33 For instance,
Philexport
lieu of a re-export
CAO-3-78, exports,
appears
the issuance of a post-dated
is rendered
was instituted ineffective
in support
of small • and
by •the complicated
and •the •implied high transactions
to
check
in
bond.
which
requirements
allows
be no rationale
for the nigher
medium
administrative
Cost.
re-export
Also, bond
there required
under CAO 3-78.
The drawback
system under •the BOC and the BOI, on the other
entails
additional
working
capital
due
and
the
c_aplicated drawback
cost
in terms of the implied
used to pay
the duties
concomitant
system
While
is also •rather
the
these schemes
primarily
export.
over an
the drawback efficient
produce
both
exporters
Rhee input-output effective the
other
the
B_W_s
are better
the
refunds
are
arising
from
included
and
the
in the fixed
suited
CCBWs
cannot
to firms that
At • the same time, the edge of
the
Thus, one •cannot escape
exemption
system
if one hopes
for
domestic
and
for these type of exports
•in the medium
cost on
limited.
are obvious.
the
costs
The products
advantages . of
underestimated for
and taxes before
transactions
import administration.
interest
hand,
will become
produce exemption
the need
to encourage
export
markets,
be
firms and
increasingly
for that
marginal important
term.
(1984) asserts coefficients
that for
import administration hand,
notes
the regular exports
publication
is an
for exports.
that the determination
of
important
up-to-date element
in
World
Bank
(1987),
on
of
the
formula
of