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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 MatchesEffective 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. Intellectual property protectionIntellectual property protectionLaws that establish and maintain ownership rights to intellectual property. The principal forms of IP protection are patents, trademarks, and copyrights. ProtectionismProtectionismNotion that governments should protect domestic industry from import competition by means of tariffs, quotas, and other trade barriers. Balance of payments argument for protectionBalance 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. Marine Mammal Protection ActMarine Mammal Protection ActThe 1972 U.S. law prohibiting the "taking" (harassing, hunting, capturing, or killing) of marine mammals, and also prohibiting the import of any marine mammal product or any fish that has been associated with the taking of marine mammals. See tune-dolphin case. Further SuggestionsCultural argument for protectionImport protection Exchange rate protection Payment protection insurance Effective rate of protection Building Societies Investor Protection Scheme Deposit Protection Scheme Nominal rate of protection Environmental protection argument for a trade intervention Contingent protection Noneconomic objectives argument for protection Consumer Credit Protection Act of 1968 protection applied Domestic content protection home responsibilities protection Administered protection Second-best argument for protection Foreign investment argument for protection Protection Retirement Protection Act of 1994 Mortgage payment protection insurance (MPPI) Domestic distortions argument for protection Downside Protection Self-sufficiency argument for protection Political economy of protection |
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