Theory and Practice of Commercial Policy: 1945-1990
In this paper, the evolution of thought regarding protectionist trade policies in developed and in developing countries is examined and contrasted. In the developing countries distrust of markets and a belief in the infant industry argument led to highly protectionist trade regimes. The consequences were so negative that thinking about interventions has changed markedly. The lessons from this experience for the policy implications of the "new trade theory" are then examined.
|Date of creation:||Dec 1990|
|Date of revision:|
|Publication status:||published as Money, Trade, and Competition: Essays in Memory of Egon Sohmen, Berlin: Springer-Verlag, 1992 pp. 233-252 Herbert Giersch, ed.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- Kenneth J. Arrow, 1962. "The Economic Implications of Learning by Doing," Review of Economic Studies, Oxford University Press, vol. 29(3), pages 155-173.
- Baldwin, Robert E., 1984. "Trade policies in developed countries," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 12, pages 571-619 Elsevier.
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- Wolfgang F. Stolper & Paul A. Samuelson, 1941. "Protection and Real Wages," Review of Economic Studies, Oxford University Press, vol. 9(1), pages 58-73.
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