Protectionism and Economic Revival
AbstractThe impact of protectionism is currently a contentious policy issue. This book evaluates the effects of protectionism on the British interwar economy. In contrast to most studies of the period and the conclusions of orthodox economic theory, Kitson and Solomou show that the introduction of the General Tariff in 1932 provided a substantial stimulus to the domestic economy - a stimulus which can help to explain the trend improvement in British economic growth in the 1930s. The authors show that the tariff made encouraging import substitution and macroeconomic expansion. The empirical evidence is examined at two levels. First, a sectoral study shows that the newly protected sector of the 1930s saw an improvement in performance following the introduction of the tariff. Secondly, the large fall in manufacturing imports generated favourable effects on macroeconomic performance by helping to reduce the import propensity of the economy. The policy implication of this study is that trade policies should be constructed in the context of prevailing economic conditions and not solely with reference to sometimes inappropriate theoretical perspectives.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoThis book is provided by Cambridge University Press in its series Cambridge Books with number 9780521071789 and published in 2008.
Contact details of provider:
Web page: http://www.cambridge.org
Other versions of this item:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Douglas A. Irwin, 1993.
"The GATT's contribution to economic recovery in post-war Western Europe,"
International Finance Discussion Papers
442, Board of Governors of the Federal Reserve System (U.S.).
- Douglas A. Irwin, 1994. "The GATT's Contribution to Economic Recovery in Post-War Western Europe," NBER Working Papers 4944, National Bureau of Economic Research, Inc.
- Kevin HjortshÃ¸j O'Rourke, 2012.
"From Empire to Europe: Britain in the World Economy,"
Economics Series Working Papers
Number 106, University of Oxford, Department of Economics.
- Kevin H. O’Rourke, 2012. "From Empire to Europe: Britain in the World Economy," Oxford University Economic and Social History Series _106, Economics Group, Nuffield College, University of Oxford.
- Crafts, Nicholas, 2011.
"British Relative Economic Decline Revisited,"
CAGE Online Working Paper Series
42, Competitive Advantage in the Global Economy (CAGE).
- Crafts, Nicholas, 2012. "British relative economic decline revisited: The role of competition," Explorations in Economic History, Elsevier, vol. 49(1), pages 17-29.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ruth Austin).
If references are entirely missing, you can add them using this form.