Effective rate of protection
Effective rate of protectionA measure of the protection provided to an industry by the entire structure of tariffs, taking into account the effects of tariffs on inputs as well as on outputs. Letting bij be the share of input i in the value of output j, the ERP of industry j is ERPj = (tj-Sibijtij)/(1-Sibij). Due to Corden (1966).
Retirement Protection Act of 1994Retirement Protection Act of 1994
Legislation designed to protect the pension benefits of workers and retirees by increasing required support of pension plans by employers.
Exchange rate protectionExchange rate protection
The manipulation of the exchange rate so as to increase the domestic prices of, and demand for, domestically produced goods. Since an undervalued currency stimulates demand for all domestically produced tradable goods, this form of protection, unlike tariff protection, can only be provided to the tradable sector as a whole, not to individual industries.
Effective protectionEffective protection
The concept that the protection provided to an industry depends on the tariffs and other trade barriers on both its inputs and its outputs, since a tariff on inputs raises cost. Measured by the effective rate of protection.
National defense argument for protectionNational defense argument for protection
The argument that imports should be restricted in order to sustain a domestic industry so that it will be available in case of trade disruption due to war. This is a second best argument, since there are a variety of ways of providing for defense at lower economic cost, including production subsidies, mothballing, and stockpiling.
Notion that governments should protect domestic industry from import competition by means of tariffs, quotas, and other trade barriers.
Intellectual property protection
Actual protection rate
Externalities argument for protection
loan protection policy
Deposit Protection Scheme
Foreign investment argument for protection
Nominal rate of protection
Fairness argument for protection
Labor standards argument for protection
Domestic distortions argument for protection
Political economy of protection
Noneconomic objectives argument for protection
home responsibilities protection