Economic policy: protectionism as an elite strategy

Le, Vo Phuong Mai, Minford, Patrick and Nowell, Eric 2009. Economic policy: protectionism as an elite strategy. [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

The EU has pursued protectionist policies not merely in food but also in manufacturing at the customs union level. In services it has not dismantled much of the existing national protectionism. The economic costs are calculated here at some 3% of GDP for the UK and some 4% for the rest of the EU --- or much larger under liberal planning assumptions. Added to its social interventionism, these costs suggest that the EU has put political integration before economic efficiency. This policymaking pattern suggests that European elites believe their position would be threatened by the domestic effects of world competition.

Item Type:	Monograph (Working Paper)
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory
Publisher:	Cardiff University
Date of First Compliant Deposit:	30 March 2016
Last Modified:	06 Oct 2015 13:31
URI:	https://orca.cardiff.ac.uk/id/eprint/77814

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