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Trade Barriers and Protectionism

In: International Trade and Global Macropolicy

Author

Listed:
  • Farrokh Langdana

    (Rutgers Business School)

  • Peter T. Murphy

Abstract

In Chapter 6 we leave the clean world of free trade and dive into trade barriers in their many incarnations, including tariffs, quotas, hassle-factors, and export subsidies. We see how tariffs harm overall welfare in both the importing and exporting countries. As bad as tariffs are, we see that quotas are even worse. Strategic trade - the protection of infant industries and champion industries - is explored at some length. Any distortive policy implemented by Country A is certain to face retaliation by Country B in the form of dumping claims and countervailing duties (CVDs). We see how these exacerbate the already bad effects of the initial barriers imposed by Country A. Finally, we take on two huge challenges to the notion of the beneficial nature of free trade: the Immiserization hypothesis, and Paul Samuelson's attack on free trade.

Suggested Citation

  • Farrokh Langdana & Peter T. Murphy, 2014. "Trade Barriers and Protectionism," Springer Texts in Business and Economics, in: International Trade and Global Macropolicy, edition 127, chapter 0, pages 75-116, Springer.
    • Handle: RePEc:spr:sptchp:978-1-4614-1635-7_6
    DOI: 10.1007/978-1-4614-1635-7_6
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    Cited by:

    1. Yoder, Samantha & Visich, John K. & Rustambekov, Elzotbek, 2016. "Lessons learned from international expansion failures and successes," Business Horizons, Elsevier, vol. 59(2), pages 233-243.

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