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A robust analysis of trade policy: the chicken and softwood lumber wars

A robust analysis of trade policy: the chicken and softwood lumber wars The paper extends the robust political economy framework to analyze the impact of tariffs on the entrepreneurial market process. It proposes that the unintended consequences of using trade policy to bolster a nation's economy will inevitably prevent an economy from allocating its resources to their highest-valued use. The study aims to expand the robust political economy literature to international trade.Design/methodology/approachThe paper develops a robust analysis of trade policy and illustrates it with two case studies of trade wars: The Chicken War (1963) and the US–Canada softwood lumber disputes (1982-present).FindingsThe paper provides theoretical insights into how the entrepreneurial market process is distorted by trade barriers. The case studies show that the theoretical insights have real-world implications that should not be ignored when planning trade policy.Originality/valueThis paper applies a robust political economy framework to international trade. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Enterpreneurship and Public Policy Emerald Publishing

A robust analysis of trade policy: the chicken and softwood lumber wars

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2045-2101
DOI
10.1108/jepp-04-2022-0053
Publisher site
See Article on Publisher Site

Abstract

The paper extends the robust political economy framework to analyze the impact of tariffs on the entrepreneurial market process. It proposes that the unintended consequences of using trade policy to bolster a nation's economy will inevitably prevent an economy from allocating its resources to their highest-valued use. The study aims to expand the robust political economy literature to international trade.Design/methodology/approachThe paper develops a robust analysis of trade policy and illustrates it with two case studies of trade wars: The Chicken War (1963) and the US–Canada softwood lumber disputes (1982-present).FindingsThe paper provides theoretical insights into how the entrepreneurial market process is distorted by trade barriers. The case studies show that the theoretical insights have real-world implications that should not be ignored when planning trade policy.Originality/valueThis paper applies a robust political economy framework to international trade.

Journal

Journal of Enterpreneurship and Public PolicyEmerald Publishing

Published: Oct 25, 2022

Keywords: International trade; Trade policy; Entrepreneurship; Robust political economy; Discovery; And the market process

References