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Infant industry protection |
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Infant industry protectionProtection of a newly established domestic industry that is less productive than foreign producers. If productivity will rise with experience enough to pass Mill's and Bastable's tests, there is a second-best argument for protection. The term is very old, but a classic treatment may be found in Baldwin (1969).Similar MatchesSelf-sufficiency argument for protectionSelf-sufficiency argument for protectionThe view that a country is better off providing for its own needs than depending on imports. It may be based on fear that war or foreign governments will interrupt imports. This is a second-best argument, since many policies could provide for that contingency without sacrificing all the gains from trade. Effective protectionEffective protectionThe 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. Cultural argument for protectionCultural argument for protectionThe view that imports undermine a country's culture and identity -- for example by changing consumption patterns to ones more similar to those abroad, or by reducing demands for domestically produced art and music -- and therefore that imports should be restricted. Home responsibilities protectionHome responsibilities protectionA scheme which preserves your rights to a basic state pension during periods when you are caring for children, an elderly relative or other dependants. Political economy of protectionPolitical economy of protectionThe study of reasons, especially political ones, that countries choose to use protection. Includes models of voting, lobbying, and campaign contributions as these lead policy makers to erect tariffs. Further SuggestionsMortgage payment protection insurance (MPPI)Intellectual property protection court of protection Payment protection insurance Tariff protection Consumer Credit Protection Act of 1968 Domestic distortions argument for protection Environmental protection argument for a trade intervention Marine Mammal Protection Act Labor standards argument for protection Foreign investment argument for protection Deposit Protection Scheme Externalities argument for protection Labor standards argument for protection Protection Protectionism Protectionism Securities Investor Protection Corporation Import protection Nominal rate of protection Employment argument for protection National defense argument for protection protection applied Endogenous protection Content protection |
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