Free Trade vs. Protection, and Preferential Trade Cooperation

Giancarlo Gandolfo

Chapter Chapter 11 in International Trade Theory and Policy, 2014, pp 253-275 from Springer

Abstract: Abstract This chapter explicitly examines the main arguments in favour of protectionism and the rebuttal of them by the advocates of free trade; here the theory of second best will throw new light on this age-old debate. We shall then go on to examine preferential trade cooperation among countries. This cooperation has the purpose of reducing or eliminating protection among the participating countries, and may take various forms, but in any case the main question is whether these countries are better off.

Keywords: Free Trade; Indifference Curve; Custom Union; European Economic Community; Trade Diversion (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-3-642-37314-5_11

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