Protection for Rent

Nikolaos Zahariadis

Chapter Chapter 1 in State Subsidies in the Global Economy, 2008, pp 1-21 from Palgrave Macmillan

Abstract: Abstract It has been almost two centuries since David Ricardo first clearly articulated the benefits of free trade and nearly 160 years since the British first implemented such a policy. In the light of the gains vigorously stressed by economists, entrepreneurs, and politicians ever since, one would expect free trade to be the prevailing international rule and impediments to trade the exception. Yet, protectionism, particularly in the form of subsidies, remains strong even as trade barriers are being dismantled. As Irwin (2005, p. 27) puts it regarding market integration and trade, “If we focus not on how far global integration has progressed in the past few decades but on how far it has to go to achieve full integration, we’re impressed by how little integration there is” (emphasis in the original). The situation is similar concerning capital flows: “Globalization remains far from complete and in fact is only in its infancy as a process” (Sobel, 1999, p. 6).

Keywords: European Union; Foreign Direct Investment; Free Trade; World Trade Organization; Producer Subsidy (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61051-4_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230610514

DOI: 10.1057/9780230610514_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().