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Protection |
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Protection1. Without any adjective, or as "import protection," this refers to restriction of imports by means of tariffs and/or NTBs, and thereby to insulate domestic producers from competition with imported goods. 2. As "IP protection," or "intellectual property protection," this refers to enforcement of intellectual property rights by granting patents, copyrights, and trademarks and by prosecuting those who violate them.Similar MatchesBalance 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. 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. Foreign investment argument for protectionForeign investment argument for protectionThe use of protection to attract FDI from abroad. It does work, since much FDI has been motivated by firms trying to get behind a tariff wall to sell their products. In an otherwise nondistorted economy, however, the cost in terms of more expensive goods is higher than the benefit from additional capital. Endogenous protectionEndogenous protectionProtection that is explained as the outcome of economic and/or political forces. See political economy of protection. Protection appliedProtection appliedA term used by the London Stock Exchange to denote that a transaction was protected at the time of reporting it. Further Suggestionshome responsibilities protectionDomestic content protection Retirement Protection Act of 1994 Payment protection insurance Political economy of protection Cultural argument for protection Patriotism argument for protection Domestic distortions argument for protection Protectionism Labor standards argument for protection Marine Mammal Protection Act Employment argument for protection Import protection Fairness argument for protection loan protection policy court of protection Deposit Protection Scheme Infant industry protection Downside Protection Content protection Consumer Credit Protection Act of 1968 National defense argument for protection Investor Protection Scheme Nominal rate of protection Effective protection |
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