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Political economy of protection |
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Political 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.Similar MatchesEffective rate of protectionEffective 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). 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. Fairness argument for protectionFairness argument for protectionThe view that it is unfair to force domestic firms to compete with foreign firms that have an advantage, either in terms of low wages or due to foreign government policies. This misinterprets economic activity as a game, the purpose of which is to win, rather than as a means of using limited resources to satisfy human needs. See level playing field. Nominal rate of protectionNominal rate of protectionThe protection afforded an industry directly by the tariff and/or NTB on its output, ignoring effects of other trade barriers on the industry's inputs. Contrasts with the ERP. Patriotism argument for protectionPatriotism argument for protectionThe view that one is helping one's country by buying domestically produced goods instead of imports. In a nondistorted economy, this is not correct, since the country can do better producing where it has a comparative advantage rather than using scarce resources where it does not. Further SuggestionsDomestic distortions argument for protectionSecond-best argument for protection Endogenous protection Infant industry protection Consumer Credit Protection Act of 1968 Contingent protection Call protection court of protection Protectionism Marine Mammal Protection Act Intellectual property protection Noneconomic objectives argument for protection mortgage protection Retirement Protection Act of 1994 Administered protection Domestic content protection Actual protection rate Investor Protection Scheme Tariff protection Effective protection Import protection Mortgage payment protection insurance (MPPI) Building Societies Investor Protection Scheme Balance of payments argument for protection Externalities argument for protection |
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