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Chapter Instruments of Trade and
6:
Investment Policies
International Trade Policies
The Trade Policy pendulum
Copyright ©2003 McGrawHill Australia Pty Ltd PPTs t/a International Trade and Investment by John Gionea
Slides prepared by John Gionea 4 1
TOPIC PLAN:
• Protectionist vs.Free Trade policies prior to World War 2
• Barriers to Trade
– e.g.tariff and nontariff barriers,barriers to services etc. • Export Enhancement Measures
– Subsidies
– Financial assistance
– Marketing assistance etc.
• Arguments pro and against protection
Copyright ©2003 McGrawHill Australia Pty Ltd PPTs t/a International Trade and Investment by John Gionea Slides prepared by John Gionea
The “Pendulum” of trade policy: Between Free Trade and Protectionism
• Mercantilism (16th century) – Trade surplus.Protectionism
• “LaissezFaire”
– David Ricardo (early 19th century): Free trade • Great Depression: NeoMercantilism
– Protectionism up in the US,UK,France etc. • Trade Liberalisation after World War 2
– GATT,IMF,World Bank, OECE (OECD)
Copyright ©2003 McGrawHill Australia Pty Ltd PPTs t/a International Trade and Investment by John Gionea Slides prepared by John Gionea
Two groups of trade policy
• Protection measures
– Barriers to trade in goods and services
• Export Enhancement Measures
Copyright ©2003 McGrawHill Australia Pty Ltd PPTs t/a International Trade and Investment by John Gionea Slides prepared by John Gionea
Barriers to trade and investment
• Tariff barriers
• Nontariff barriers (e.g. quotas, standards, procurement policies)
• Export • Export
restrictions restrictions
• Barriers to trade in services
• Financial limits (e.g. exchange controls, profit remittance limits)
• Limits on FDI entry and operations
Copyright ©2003 McGrawHill Australia Pty Ltd PPTs t/a International Trade and Investment by John Gionea Slides prepared by John Gionea
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