|
|
Balance of payments argument for protection |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Balance of payments argument for protectionA common reason for restricting imports, especially under fixed exchange rates, when a country is losing international reserves due to a trade deficit. It can be argued that this is a second best argument, since a devaluation could solve the problem without distorting the economy and therefore at smaller economic cost.Similar MatchesProtectionismProtectionismNotion that governments should protect domestic industry from import competition by means of tariffs, quotas, and other trade barriers. Import protectionImport protectionSee protection. Domestic content protectionDomestic content protectionUse of trade policies such as domestic content requirements to increase the portion of a product's value that is provided by domestic factors of production, either in direct production or through produced inputs. Second-best argument for protectionSecond-best argument for protection1. Any argument for protection that can be countered by pointing to a different and less distortionary policy that would achieve the same desired result at lower economic cost. 2. An argument for protection to partially correct an existing distortion in the economy when the first-best policy for that purpose is not available. For example, if domestic production generates a positive externality and a production subsidy to internalize it is not available, then a tariff may be second-best optimal. Tariff protectionTariff protectionProtection provided by a tariff. Further SuggestionsProtectionCall protection Intellectual property protection Environmental protection argument for a trade intervention Safeguards protection Endogenous protection Marine Mammal Protection Act Payment protection insurance mortgage protection Downside Protection Patriotism argument for protection Mortgage payment protection insurance (MPPI) Labor standards argument for protection Building Societies Investor Protection Scheme Self-sufficiency argument for protection Foreign investment argument for protection Political economy of protection protection applied Cultural argument for protection home responsibilities protection loan protection policy Protectionism Externalities argument for protection National defense argument for protection Noneconomic objectives argument for protection |
|
|
|