Abstract
We have seen in Chapter 30 that there are gains from specialisation and trade. However, for these gains to materialise, it is important that countries can trade freely. In the real world this is not always the case and countries sometimes adopt a range of measures designed to restrict imports. These measures are sometimes referred to as protection because their aim is to protect domestic markets from foreign competition.
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© 1993 Barry Harrison
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Harrison, B. (1993). Free Trade and Protection. In: Introductory Economics Course Companion. Palgrave, London. https://doi.org/10.1007/978-1-349-13004-7_31
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DOI: https://doi.org/10.1007/978-1-349-13004-7_31
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-57913-8
Online ISBN: 978-1-349-13004-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)