Search results
Results from the WOW.Com Content Network
Trade barriers are government-induced restrictions on international trade. [ 1] According to the theory of comparative advantage, trade barriers are detrimental to the world economy and decrease overall economic efficiency . Most trade barriers work on the same principle: the imposition of some sort of cost (money, time, bureaucracy, quota) on ...
The American economist C. Fred Bergsten devised the bicycle theory to describe trade policy. According to this model, trade policy is dynamically unstable in that it constantly tends towards either liberalization or protectionism. To prevent falling off the bike (the disadvantages of protectionism), trade policy and multilateral trade ...
Public finance. Non-tariff barriers to trade ( NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve ...
e. A trade restriction is an artificial restriction on the trade of goods and/or services between two or more countries. It is the byproduct of protectionism. However, the term is controversial because what one part may see as a trade restriction another may see as a way to protect consumers from inferior, harmful or dangerous products.
Strategic trade theory (sometimes appearing in literature as "strategic trade policy") describes the policy certain countries adopt in order to affect the outcome of strategic interactions between firms in an international oligopoly, an industry dominated by a small number of firms. [ 1] The term ‘strategic’ in this context refers to the ...
The fair trade debate concerns the ethics and economic implications of fair trade, a term for an arrangement designed to help producers in developing countries achieve sustainable and equitable trade relationships. The benefits of fair trade for farmers and workers can vary considerably and the social transformation impacts also vary around the ...
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import ...
Statistically speaking, global trade has consistently grown between one and six percent per annum over the past decade, [5] and US$38.8 billion were allocated to Aid for Trade in 2016. [6] Yet several criticisms of the WTO have arisen over time from a range of fields, including economists such as Dani Rodrik [7] and Ha Joon Chang, [8] and ...