scholarly journals A Trade Policy Perspective on Import Quotas and the Substitution Effect

2010 ◽  
Author(s):  
Godfrey Cadogan
2021 ◽  
Author(s):  
Godfrey Cadogan

A Trade Policy Perspective On Import Quotas And The Substitution Effect


2021 ◽  
Author(s):  
Godfrey Cadogan

A Trade Policy Perspective On Import Quotas And The Substitution Effect


2010 ◽  
Vol 70 (4) ◽  
pp. 871-897 ◽  
Author(s):  
Barry Eichengreen ◽  
Douglas A. Irwin

The Great Depression was marked by a severe outbreak of protectionist trade policies. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the gold standard resorted to tariffs, import quotas, and exchange controls to a greater extent than countries that went off gold. Just as the gold standard constraint on monetary policy is critical to understanding macroeconomic developments in this period, exchange rate policies help explain changes in trade policy.


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