The Political Economy of Trade Policy

Bibliographic Data

ID4029779
AuthorsRobert E Baldwin (Hilldale Professor of Economics at the University of Wisconsin, Madison, Wisconsin.), Richard Baldwin (0000-0001-8663-6293, University of Wisconsin–Madison, corresponding author)
Year1989
Volume3
Issue4
Pages119-135
Publication date1989-11-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Economic Perspectives (JOURNAL)
Journal identifiersISSN: 0895-3309 • E-ISSN: 1944-7965
PublisherAmerican Economic Association (PUBLISHER • US)
DOI10.1257/jep.3.4.119
OpenAlexW2166852895
LanguageEN
Citations received57
References cited17

International trade seems to be a subject where the advice of economists is routinely disregarded. Economists are nearly unanimous in their general opposition to protectionism, but the increase in U.S. protection in recent years in such sectors as automobiles, steel, textiles and apparel, machine tools, footwear and semiconductors demonstrates that economists lack political influence on trade policy. Two broad approaches have been developed to analyze the political economics of trade policy and the processes that generate protectionism. One approach emphasizes the economic self-interest of the political participants, while the other stresses the importance of the broad social concerns of voters and public officials. This paper outlines the nature of the two approaches, indicating how they can explain the above anomalies and other trade policy behavior, and concludes with observations about integrating the two frameworks, conducting further research, and making policy based on the analysis

Clothing · Commercial policy · Economic growth · Economic policy · Economics · International economics · International trade · Political economy · Political science · Politics · Protectionism · Public policy · Global trade and economics · Global trade, sustainability, and social impact · Law · World Trade Organization Law

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