Showing 1 - 10 of 102
Over the past decades, the steel industry has been protected by a wide variety of trade policies, both tariff- and quota-based. We exploit this extensive heterogeneity in trade protection to examine the well-established theoretical literature predicting nonequivalent effects of tariffs and...
Persistent link: https://www.econbiz.de/10013137772
How large are optimal tariffs? What tariffs would prevail in a worldwide trade war? How costly would be a breakdown of international trade policy cooperation? And what is the scope for future multilateral trade negotiations? I address these and other questions using a unified framework which...
Persistent link: https://www.econbiz.de/10013121039
In this paper it is argued that there is an important protectionist bias inherent in free trade agreements which is not present in custom unions. In any customs union or free trade agreement, one of the critical issues concerns "rules of origin." In a free trade agreement rules of origin have an...
Persistent link: https://www.econbiz.de/10013124656
We provide the first empirical tests for financial protectionism, defined as a nationalistic change in banks' lending … of financial protectionism. After nationalisations, foreign banks reduced the fraction of loans going to the UK by about … nationalised banks seem to have engaged in financial protectionism, while British nationalised banks have not …
Persistent link: https://www.econbiz.de/10013124846
Jagdish Bhagwati coined the phrase quid pro quo foreign investment to describe international investments made in anticipation of host country trade policy and perhaps with the intention of defusing a protectionist threat. We apply Bhagwati's notion to situations where (i) foreign investment is...
Persistent link: https://www.econbiz.de/10013125846
This paper tries to make sense of the recent trade dispute between the U.S. and Japan in autos and auto parts. The paper argues that there are structural differences between the way that the auto industries are organized in the U.S. and Japan, and that these differences have contributed to the...
Persistent link: https://www.econbiz.de/10013102060
The recent literature on quid pro quo foreign direct investment (FDI) suggests that FDI may be induced by the threat of protection, and further, that FDI may be used as an instrument to defuse a protectionist threat. This paper uses a panel data set of 4-digit SIC level observations of Japanese...
Persistent link: https://www.econbiz.de/10013104882
Conventional wisdom holds that protectionism is counter-cyclic; tariffs, quotas and the like grow during recessions …-war era, protectionism has not actually moved counter-cyclically. Tariffs and non-tariff barriers simply do not rise … years, using eighteen measures of protectionism and seven of business cycles. I also provide some hints as to why …
Persistent link: https://www.econbiz.de/10013106645
Understanding the formation of individual trade policy preferences is a fundamental input into the modeling of trade policy outcomes. Surprisingly, past studies have found mixed evidence that various labor market and industry attributes of workers affect their trade policy preferences, even...
Persistent link: https://www.econbiz.de/10013075425
International trade became much less multilateral during the 1930s. Previous studies, looking at aggregate trade flows, have argued that discriminatory trade policies had comparatively little to do with this. Using highly disaggregated information on the UK's imports and trade policies, we find...
Persistent link: https://www.econbiz.de/10012963163