It is difficult to say whether protectionism is good or bad since every nation is introducing it to protect a domestic interest that is threatened by what is being imported. At times, it is possible to justify protectionism for the simple reason that it will serve a given purpose. Governments would be benefited from the income generated by introducing a high tariff on a given product or sector, for example, and that might be another advantaged translated to it, considering that such measures could give tax payers a relief. If governments have enough revenue from imported good, they will demand lower taxes domestically.
- Corden, W. M. (1984). The Revival of Protectionism. Occasional Paper 14. New York and London: Group of Thirty.
- Ebeling, R. M. (1991). Free Trade versus Protectionism. Freedom Daily. Retrieved May 30, 2006 from http://www.fff.org/freedom/0191b.asp
- Krueger, A. O. (1997). Free Trade Agreements Versus Customs Unions. Journal of Development Economics, Vol. 54. (No. 1) pp.169-187.
- Magee, S. P., Brock, W. A., & Young, L. (1989). Black Hole Tariffs and Endogenous Protection. Cambridge: Cambridge University Press.
- Yoffie, D. B. (1983). Power and Protectionism: Strategies of the Newly Industrializing Countries. New York: Columbia University Press.