The Effects of Protectionism on a Small Country

The Effects of Protectionism on a Small Country PDF

Author: Michael Bahaamonde Connolly

Publisher: World Bank Publications

Published: 1994-01-01

Total Pages: 186

ISBN-13: 9780821327883

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"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.

Impact of Protectionism on the Long Run Economic Growth of a Country - A Brief Review

Impact of Protectionism on the Long Run Economic Growth of a Country - A Brief Review PDF

Author: IBSS. Irugalbandara

Publisher:

Published: 2019

Total Pages:

ISBN-13:

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Protectionism is an economic policy which is imposed by the government in order to confine international trade through various methods such as regulating import tariffs, subsidies, import quotas and direct state intervention. Economists and policymakers have identified many impacts of trade protectionism on short and long-term effects on a country's economic growth as well as the influence of protectionism on the economic growth is a debatable topic in the commercial world. This paper based on a vigorous literature review depicts a general overview and the contemporary state of knowledge regarding the protectionism and an understanding about the extent to which the protectionism aids to improve the long-run economic growth of a country. Through the critical analysis of data, it can be stressed out that protectionism has a negative impact on economic growth and economic welfare while there exists a significant positive impact of free trade, less trade barriers and deregulation on economic growth. Protectionism might be effective in the short-term economic growth, but mostly in the long term, it is harmful. It creates the country and its trades less competitive in international business. Long-term economic growth is influenced by a range of factors other than trade protectionism, and therefore it is important to control protectionism when considering the links between growth and such policies cautiously in order to eradicate aftermath risks it could have on a long-run economy as well as globally. According to the comprehensive review of data, it can be perceived that threats of protectionism are more than their benefits which underline protectionism is not a solution for issues in long-run economic growth.

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

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

Author: Richard E. Baldwin

Publisher:

Published: 2011-03

Total Pages: 112

ISBN-13: 9781907142239

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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 PDF

Author: Davide Furceri

Publisher: International Monetary Fund

Published: 2019-01-15

Total Pages: 57

ISBN-13: 1484390067

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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.

What's Wrong with Protectionism

What's Wrong with Protectionism PDF

Author: Pierre Lemieux

Publisher: Rowman & Littlefield

Published: 2018-08-27

Total Pages: 142

ISBN-13: 1538122138

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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.

Kicking Away the Ladder

Kicking Away the Ladder PDF

Author: Ha-Joon Chang

Publisher: Anthem Press

Published: 2002-07-01

Total Pages: 196

ISBN-13: 0857287613

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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.

The Macroeconomic Effects of Trade Tariffs

The Macroeconomic Effects of Trade Tariffs PDF

Author: Jesper Lindé

Publisher: International Monetary Fund

Published: 2017-07-07

Total Pages: 54

ISBN-13: 1484306112

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We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result of no real effects of a combined import tariff and export subsidy holds up approximately for a number of alternative assumptions, we obtain quantitatively important long-term deviations under complete international asset markets. Direct pass-through of tariffs and subsidies to prices and slow exchange rate adjustment can also generate significant short-term deviations from Lerner. Finally, we quantify the macroeconomic costs of a trade war and find that they can be substantial, with permanently lower income and trade volumes. However, a fully symmetric retaliation to a unilaterally imposed border adjustment tax can prevent any real or nominal effects.

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