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Economists, institutions, and trade restrictions : a review article

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Author Info

  • Finger, J. Michael

Abstract

A review article on the work of"practitioners of contemporary economic analysis of trade restrictions", this report focuses on three questions : a) are there holes in the case of free trade? B) Why are trade restrictions imposed, and c) how do US policy actions and those of other nations interact ? On the first question, though difficult to identify when there is profit to be captured by trade intervention and to design an appropriate trade intervention policy, capturing a strategic sector and economic rents is important to equity holders without necessarily being of much significance to the economy as a whole. Further, on trade restrictions, these are often aimed at non economic objectives, since economic sanctions tend to be used only when other instruments fail. As for the interaction of US policy actions versus other nations, they are a manifestation of protectionist legislation in the US Congress and perhaps indictments against GATT as wrong headed.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 78.

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Date of creation: 30 Sep 1988
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Handle: RePEc:wbk:wbrwps:78

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Related research

Keywords: TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT; Environmental Economics&Policies; Economic Theory&Research; Rules of Origin; Trade Policy;

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Cited by:
  1. Hallett Andrew Hughes & Braga C. A. Primo, 1994. "The New Regionalism and the Threat of Protectionism," Journal of the Japanese and International Economies, Elsevier, vol. 8(4), pages 388-421, December.

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