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Full Description
This volume addresses highly topical issues at a crucial time in international economic relations. The world has never been closer to dismantling the liberal multilateral trading system which has been painstakingly established and successfully operated since the Second World War. In this volume many of the world's most distinguished economists examine the movement toward protectionism, bilateralism, and regionalism, and its causes, effects, and possible solutions. The contributors are theorists, researchers, and advisors to governments and international organizations who are at the forefront of trade theory, policy, and practice, and whose analyses have a real impact on international trade. By collecting together these analyses in a single volume, this book provides a unique survey for students and scholars of economics, and all those concerned with trade theory and policy in business and government.
Contents
1. Protectionism and world welfare: introduction Dominick Salvatore; Part I. The New Protectionism: An Overview: 2. Fair trade, reciprocity and harmonization: the novel challenge to the theory and policy of free trade Jagdish N. Bhagwati; 3. The revival of protectionism in developed countries W. Max Corden; 4. Changes in the global trading system: a response to shifts in national economic power Robert E. Baldwin; 5. 'Fortress Europe' and retaliatory economic warfare Lawrence R. Klein and Pingfan Hong; Part II. Trade Theory, Industrial Policies and Protectionism: 6. The changing structure of US trade William H. Branson; 7. US response to foreign industrial policies Richard N. Cooper; 8. The current case for industrial policy Paul R. Krugman; 9. The case for bilateralism Rudiger W. Dornbusch; Part III. Exchange Rates and Protectionsim: 10. Floating exchange rates and the new interblock protectionism: tariffs versus quotas Ronald I. McKinnon and K. C. Fung; 11. The theory of tariffs and monetary policies Robert Mundell; 12. Restrictions to foreign investment: a new form of protectionism Vito Tanzi and Isaias Coelho; 13. The economics of content protection Michael Mussa; 14. The relationship between exchange variability and protection George S. Tavlas, Joseph Ascheim, and Michael Ulan; Part IV. The New Protectionism in the World Economy: 15. Trade protectionism and welfare in the United States Dominick Salvatore; 16. Protectionism and growth of Japanese competitiveness Ryuzo Sato, Rama Ramachandran, and Shunichi Tsutsui; 17. Commercial policies and protectionism in the European Community Norman Scott; 18. Protectionism and the developing countries G. K. Helleiner; 19. Trade liberalization: the New Eastern Europe in the global economy Jozef M. van Brabant.
