The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Quotas and Tariffs

  • Nilüfer Çağatay
Reference work entry


Until the mid-1960s, it was commonly argued that quotas and tariffs were equivalent protective devices in terms of their effects on the volume of imports, domestic price, domestic output, and domestic consumption. Yet, at times they have been viewed as non-equivalent, as for instance revealed by the relative lenience of GATT rules toward tariffs vis-à-vis quotas.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Nilüfer Çağatay
    • 1
  1. 1.