Search results for "Protectionism"
showing 10 items of 17 documents
Protectionism through legislative layering: Implications for auditors and investors
2021
AbstractProtectionism is on the rise. Although it tends to be associated with tariffs on imports, governments are increasingly applying other mechanisms to influence international business. Import substitution initiatives have been used to replace purchases from foreign producers with local alternatives. Russia implemented import substitution through legislative layering where layers of regulation created requirements targeting different industries and companies. Following sanctions imposed in 2014 on Russia, the government responded with additional import substitution efforts. We are interested in effects of such measures on the Big 4, global professional service firms, and the choice of a…
How Electoral Institutions Change the Influence of World Trade Integration on Trade Policies
2014
World integration levels influence opportunity costs of maintaining restrictive national trade policies. In an integrated world, restrictive trade policies are more costly than in a context of low overall levels of world market integration. We argue that policy makers can be expected to react to these varying incentives to liberalize the trade regimes of their countries, yet do so not in a uniform fashion across countries. Rather, the responsiveness to changes in levels of world trade integration is conditional upon the electoral system the country in question employs. This is due to the fact that opportunity cost considerations increase in importance with a) the degree to which policy make…
1936. Frustrated Hopes: The Great Depression, the Second Republic and the Civil War
2020
The Great Depression was accompanied by the collapse of the monarchical regime and the establishment of a modern democracy with the Second Republic in April 1931. The new regime had to balance the importance of gaining domestic and international respectability (using orthodox fiscal and monetary policy) with efforts to shift towards a moderate protectionist policy, and enact land, labour and educational reforms. There were fierce confrontations from 1934 on, eventually culminating in a civil war in 1936. The consequences included a long-lasting impact on economic growth; autarky and interventionist policies; a huge loss of human capital; poverty and rising inequality; and a 40-year-long dic…
Are discriminatory procurement policies motivated by protectionism ?
1995
When purchasing goods and services, governments often discriminate in favour of domestic suppliers. It is widely assumed that such behaviour is motivated by protectionism. Although this interpretation is sometimes valid, it is also puzzling. After reviewing some of the puzzles, the paper proposes an alternative explanation of preferential procurement based on the assumption that governmental buyers want to purchase goods and services at minimum cost, but must do this in a context in which, because of the presence of unverifiable services, contracts are necessarily incomplete. The paper argues that preferential purchasing can guarantee the efficient delivery of these unverifiable services.
Comparing Post War Japanese and Finnish Economies and Societies
2014
Part 1: Introduction 1. Comparing Japanese and Finnish Economies and Societies - Longitudinal Perspectives, Jari Ojala, Yasushi Tanaka, Toshiaki Tamaki, and Jari Eloranta 2. Longitudinal Comparative Historical Analysis: Challenges and Possibilities, Pavel Osinsky and Jari Eloranta Part 2: Welfare Societies 3. Two Paths to Building a Welfare Society: The Development of Work and Family-related Policies in Post-War Finland and Japan, Maare Paloheimo, Kota Sugahara, Tadashi Fukui, and Merja Uotila 4.Higher Education Systems and Labour Market Outcomes in Japan and Finland, 1950 - 2010, Anu Ojala, Yasushi Tanaka and Olli Turunen 5. Military Spending in Japan and Finland: From Warfare to Welfare S…
Still Going “Grey” After All These Years? Export Restraint Agreements and the WTO
2013
This chapter assesses how the dual strategy that aimed to eliminate "grey area" measures has worked out in practice, also in the light of the protectionist pressures unleashed by the current economic crisis. After providing a brief overview of the historic proliferation of these measures, it discusses whether the attempt to render ordinary safeguard measures a more attractive alternative to voluntary restraint agreements (VRAs) has worked in practice. The chapter analyses some of the intrinsic and extrinsic weaknesses of the ban itself. The chapter reviews some cases of export-restraint agreements arguably falling within the exceptions to the ban enshrined in Art. 11.1.C. This work has exam…
Exchange Rate and Interest-Rate Driven Competitive Advantages in the EMU
2002
Real exchange and interest rates may still fluctuate inside the EMU and give rise to changes in competitiveness. We find, in contrast to what is generally expected, no convergence in these variables after the introduction of the euro. On the contrary, a divergence is found that is extraordinary when compared to the preceding 40 years. The magnitude of the divergence should urge on a wave of restructuring in the EMU, conditioned upon adequate policy responses. The worst-case scenario involves a flight to structural support and protectionism, challenging the whole idea of the EMU.
From endogenous growth to stationary state: The world economy in the mathematical formulation of the Ricardian system
2016
AbstractWe analyse international trade in a Pasinetti–Ricardo growth model in the world economy scenario in which several small trading countries coexist and international commodity prices are determined by the interplay of supply and demand amongst them. We demonstrate that all the trading countries eventually reach the stationary state, though this process is not monotonic and the dynamics of capital and population may actually push some countries towards the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition of An Essay on the Principle of Population (1803) to support a policy of agricultural protectionism.
Is Food Self-Sufficiency Conducive to Long-Term Growth? An Assessment of Malthus (1803) on the International Corn Trade.
2017
In this article, we have reconstructed Malthus’s views on growth and international corn trade in the second edition of his An Essay on the Principle of Population (1803) and shown their theoretical consistency with Malthus’s food self-sufficiency policy proposal advanced in Grounds of an Opinion on the Policy of Restricting the Importation of Foreign Corn ([1815] 1986b), the protectionist pamphlet that elicited Ricardo’s vehement reaction in “Essay on Profits.” Malthus’s (1803) main thesis was that the contemporary British unbalanced growth pattern was not viable. In order to avoid premature stagnation, he thought that Great Britain should both follow a pattern of balanced growth and pursue…
The EU and global imbalances
2015
The EU’s Role in Fighting Global Imbalances looks at the role of the European Union in addressing some of the greatest challenges of our time: poverty, protectionism, climate change, and human trafficking. Contributions from ten leading scholars in the fields of economics, law, and political science provide in-depth analyses of three key dimensions of EU foreign policy, namely: the internal challenges facing the EU, as its 28 member countries struggle to coordinate their actions; the external challenges facing the EU on the global arena, in areas where global imbalances are particularly pervasive, and where measures taken by the Union can have an important impact; and the EU´s performance o…