A robust analysis of trade policy: the chicken and softwood lumber wars

Nathaniel Smith

Journal of Entrepreneurship and Public Policy, 2022, vol. 11, issue 2/3, 273-291

Abstract: Purpose - The paper extends the robust political economy framework to analyze the impact of tariffs on the entrepreneurial market process. It proposes that the unintended consequences of using trade policy to bolster a nation's economy will inevitably prevent an economy from allocating its resources to their highest-valued use. The study aims to expand the robust political economy literature to international trade. Design/methodology/approach - The paper develops a robust analysis of trade policy and illustrates it with two case studies of trade wars: The Chicken War (1963) and the US–Canada softwood lumber disputes (1982-present). Findings - The paper provides theoretical insights into how the entrepreneurial market process is distorted by trade barriers. The case studies show that the theoretical insights have real-world implications that should not be ignored when planning trade policy. Originality/value - This paper applies a robust political economy framework to international trade.

Keywords: International trade; Trade policy; Entrepreneurship; Robust political economy; Discovery; And the market process (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jepppp:jepp-04-2022-0053

DOI: 10.1108/JEPP-04-2022-0053

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