Publisher's Synopsis
By examining the determinants of trade policies in countries with democratic institutions, this volume illustrates how protectionist policies are engendered by a political process which allows optimizing agents to pursue self-interests in both economic and political activities. The book stresses the link between a country's trade policy and domestic income distribution. Examples range from a comparison of the effect on an economy's aggregate income of free trade against protectionist policies to the differences in levels of protection achieved and implemented by different industries. The author also describes the institutional framework of protectionism and reviews the empirical evidence. Professional and academic economists and graduate students will find that this book addresses fundamental problems of international trade theory and policy.
