Protectionism and World Welfare

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Essays by economists specializing in the policy and practice of trade theory examine the recent deterioration in the liberal multilateral trading system, the movement toward protectionism, bilateralism and regionalism, and its causes, effects, and possible solutions.
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Editorial Reviews

From the Publisher
"The volume's interest lies not so much in any overall assessment of the effect of protectionism on well-being as in the stimulating arguments about the merits of particular trade-inhibiting strategies." Patrick Clawson, Orbis

"Overall, this volume is more than informative by combining theoretical, empirical and policy papers. It is a rewarding (and at times taxing) read." X. De Vanssay, Journal of European Integration

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Product Details

  • ISBN-13: 9780521414555
  • Publisher: Cambridge University Press
  • Publication date: 9/28/2004
  • Pages: 464
  • Product dimensions: 6.18 (w) x 9.21 (h) x 1.18 (d)

Table of Contents

List of contributors
1 Protectionism and world welfare: introduction 1
2 Fair trade, reciprocity, and harmonization: the novel challenge to the theory and policy of free trade 17
3 The revival of protectionism in developed countries 54
4 Changes in the global trading system: a response to shifts in national economic power 80
5 "Fortress Europe" and retaliatory economic warfare 99
6 US response to foreign industrial policies 131
7 The current case for industrial policy 160
8 The case for bilateralism 180
9 Restrictions to foreign investment: a new form of protectionism? 200
10 Floating exchange rates and the new interbloc protectionism: tariffs versus quotas 221
11 The theory of tariffs and monetary policies 244
12 The economics of content protection 266
13 The relationship between exchange-rate variability and protection 290
14 Trade protectionism and welfare in the United States 311
15 Protectionism and growth of Japanese competitiveness 336
16 Protectionism in Western Europe 371
17 Protectionism and the developing countries 396
18 Trade liberalization - the new Eastern Europe in the global economy 419
Author index 441
Subject index 445
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