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WHY ARE TRADE BARRIERS SO LOW?
Author(s) -
Magee Christopher S. P.
Publication year - 2011
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2011.02118.x
Subject(s) - tariff , welfare , economics , international economics , politics , international trade , public economics , business , market economy , political science , law
The political economy literature suggests that tariff rates should be high because the gains to producers from protection are enormous while the welfare costs are small. This paper presents and evaluates six possible explanations for the relatively low tariffs we see today in most developed countries.