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Economic Policy: protectionism as an elite strategy

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Abstract

The EU has pursued protectionist policies not merely in food but also in manufacturing at the customs union level. In services it has not dismantled much of the existing national protectionism. The economic costs are calculated here at some 3% of GDP for the UK and some 4% for the rest of the EU - or much larger under liberal planning assumptions. Added to its social interventionism, these costs suggest that the EU has put political integration before economic efficiency. This policymaking pattern suggests that European elites believe their position would be threatened by the domestic effects of world competition.

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  • Le, Vo Phuong Mai & Minford, Patrick & Nowell, Eric, 2009. "Economic Policy: protectionism as an elite strategy," Cardiff Economics Working Papers E2009/1, Cardiff University, Cardiff Business School, Economics Section.
    • Handle: RePEc:cdf:wpaper:2009/1
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    More about this item

    Keywords

    protectionism; manufactures; anti-dumping; tariff equivalent; customs union; competition;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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