The Effects of Protectionism on a Small Country

The Effects of Protectionism on a Small Country
Author: Michael Bahaamonde Connolly
Publisher: World Bank Publications
Total Pages: 186
Release: 1994-01-01
Genre: Business & Economics
ISBN: 9780821327883

"Competently executed series of studies on the distorted trade regime of Uruguay until the late 1980s and the effect of protectionism on a variety of economic outcomes. Topics covered range from the political economy of trade distortions to the sectoral impact of specific regulations. Worth reading"--Handbook of Latin American Studies, v. 57.

The Collapse of Global Trade, Murky Protectionism, and the Crisis

The Collapse of Global Trade, Murky Protectionism, and the Crisis
Author: Richard E. Baldwin
Publisher:
Total Pages: 112
Release: 2011-03
Genre: Business & Economics
ISBN: 9781907142239

The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

Macroeconomic Consequences of Tariffs

Macroeconomic Consequences of Tariffs
Author: Davide Furceri
Publisher: International Monetary Fund
Total Pages: 57
Release: 2019-01-15
Genre: Business & Economics
ISBN: 1484390067

We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result in more unemployment, higher inequality, and real exchange rate appreciation, but only small effects on the trade balance. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies, and when tariffs go up, not down. Our results are robust to a large number of perturbations to our methodology, and we complement our analysis with industry-level data.

The Structure and Evolution of Recent U.S. Trade Policy

The Structure and Evolution of Recent U.S. Trade Policy
Author: Robert E. Baldwin
Publisher: University of Chicago Press
Total Pages: 452
Release: 2008-04-15
Genre: Business & Economics
ISBN: 0226036537

The trade policies addressed in this book have far-reaching effects on the world's increasingly interdependent economies, but until now little research has been devoted to them. This volume represents the first systematic effort to analyze specific U.S. trade policies, particularly nontariff measures. It provides a better understanding of how trade policies operate, how effective they are, and what their costs and benefits are to trading nations. The contributors chart the history of U.S. trade policy since World War II, analyze industry-specific trade barriers, and discuss the effects of tariff preferences and export-promoting policies such as export credits and domestic international sales corporations (DISCs). The final section of essays examines the worldwide impact of import policies, pointing out subtleties in industry-specific policies and providing insight into the levels of protection in developing countries. The contributors blend state-of-the-art economics with language that is accessible to the business community, economists, and policymakers. Commentaries accompany each paper.

Kicking Away the Ladder

Kicking Away the Ladder
Author: Ha-Joon Chang
Publisher: Anthem Press
Total Pages: 196
Release: 2002-07-01
Genre: Business & Economics
ISBN: 0857287613

How did the rich countries really become rich? In this provocative study, Ha-Joon Chang examines the great pressure on developing countries from the developed world to adopt certain 'good policies' and 'good institutions', seen today as necessary for economic development. His conclusions are compelling and disturbing: that developed countries are attempting to 'kick away the ladder' with which they have climbed to the top, thereby preventing developing countries from adopting policies and institutions that they themselves have used.

What's Wrong with Protectionism

What's Wrong with Protectionism
Author: Pierre Lemieux
Publisher: Rowman & Littlefield
Total Pages: 142
Release: 2018-08-27
Genre: Political Science
ISBN: 1538122138

Putting tariffs on imported goods or setting other barriers to international trade can be tempting for politicians. They assume that many of their constituents believe that free trade is not fair trade and that other countries aren’t playing by the rules. This belief makes it easy for industry leaders to demand protection for their businesses and their workers—to “put America first.” But Americans should resist the siren calls of protectionism. In this highly relevant protectionism primer, Pierre Lemieux shows what can happen if they don’t. As the author demonstrates, trade between any two countries is fair for the same reasons as exchange between two individuals: it is to the benefit of both. Lemieux carefully refutes the arguments of those who would curtail Americans’ access to the benefits of international commerce—from the claim that we can boost economic growth by reducing imports to the belief that free trade leads to “shipping jobs overseas.” Yes, manufacturing jobs are declining in this country and have been since the 1950s. But, as Lemieux points out, that’s in large part because Americans are making more advanced products more efficiently—that’s our comparative advantage. And this is happening as less-developed countries are producing more labor-intensive, low-tech goods—that’s their comparative advantage. All parties to a trade benefit. Lemieux shows how free trade improves the lives of American consumers, especially the poor. The narrow agenda of the protectionists—to protect a small minority of producers at the expense of millions of their fellow Americans—is the wrong path for an increasingly diverse and complex economy. This concise primer shows you why.

OECD Insights International Trade Free, Fair and Open?

OECD Insights International Trade Free, Fair and Open?
Author: Love Patrick
Publisher: OECD Publishing
Total Pages: 197
Release: 2009-05-19
Genre:
ISBN: 926406026X

Argues that prosperity has rarely, if ever, been achieved or sustained without trade. Trade alone, however, is not enough; policies targeting employment, education, health and other issues are also needed to promote well-being and tackle the challenges of a globalised economy.

Principles of Macroeconomics for AP® Courses 2e

Principles of Macroeconomics for AP® Courses 2e
Author: Steven A. Greenlaw
Publisher:
Total Pages: 0
Release: 2017
Genre: Business & Economics
ISBN: 9781947172432

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors.

Clashing Over Commerce

Clashing Over Commerce
Author: Douglas A. Irwin
Publisher: University of Chicago Press
Total Pages: 873
Release: 2017-11-29
Genre: Political Science
ISBN: 022639901X

A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs