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Economic Policy: protectionism as an elite strategy

Vo Phuong Mai Le, A. Patrick Minford and Eric Nowell

No E2009/1, Cardiff Economics Working Papers from Cardiff University, Cardiff Business School, Economics Section

Abstract: The EU has pursued protectionist policies not merely in food but also in manufacturing at the customs union level. In services it has not dismantled much of the existing national protectionism. The economic costs are calculated here at some 3% of GDP for the UK and some 4% for the rest of the EU - or much larger under liberal planning assumptions. Added to its social interventionism, these costs suggest that the EU has put political integration before economic efficiency. This policymaking pattern suggests that European elites believe their position would be threatened by the domestic effects of world competition.

Keywords: protectionism; manufactures; anti-dumping; tariff equivalent; customs union; competition (search for similar items in EconPapers)
JEL-codes: F13 F14 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec
Date: 2009-01
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Published in The European Union and World Politics (eds. Andrew Gamble and David Lane), Palgrave Macmillan, ISBN 9780230221499, 2009

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