This paper examines the impact of protectionist policies on exports within global value chains (GVCs), using the COVID-19 pandemic as a natural experiment. Leveraging UK customs data (2017–2020) and a shift-share identification strategy, we estimate an elasticity of exports with respect to...

Economic development is the result of various factors operating in space and time. For some time now, economics has been looking more closely at the role played by institutions as a driving and propelling force behind economic development. More recently, the action carried out by intermediate...

Economic development is the result of various factors operating in space and time. For some time now, economics has been looking more closely at the role played by institutions as a driving and propelling force behind economic development. More recently, the action carried out by intermediate...

Policy approaches to the enforcement and licensing of standard-essential patents in wireless communications markets reflect the competing interests of entities that specialize in the innovation or implementation segments of the technology supply chain. This same principle can anticipate the...

Karl Marx, a pioneer of anti-imperialism (or anti-mercantilism), was exiled in the 1850s in London. A decade later, he wrote nearly 500 editorials for The New York Herald Tribune. Although a handful of these editorials offer important clues for understanding Marx’s thinking on imperialism,...

Adam Smith sees religion both as having a useful and a dangerous role. People create gods to explain what they do not understand and appease their desire of justice when human justice is perceived to fail. These are socially useful functions of religion. But when religion is used as a political...

1. Introduction -- 2. Gerónimo de Uztáriz, his Life and his Work -- 3. Uztáriz and the Bourbon Public Administration -- 4. The ‘Théorica’ in its International Context -- 5. Uztáriz and his sources: between Political Arithmetic, Colbertism and Arbitrism -- 6. Currency, Tariffs and the...

Der Ausschuss für die Geschichte der Wirtschaftswissenschaften hatte sich bereits 1981 mit dem Kameralismus und Merkantilismus beschäftigt. In den folgenden 37 Jahren ist die theoriegeschichtliche Forschung in diesem Feld vorangeschritten und so war es an der Zeit, sich erneut dieser Thematik...

Der Ausschuss für die Geschichte der Wirtschaftswissenschaften hatte sich bereits 1981 mit dem Kameralismus und Merkantilismus beschäftigt. In den folgenden 37 Jahren ist die theoriegeschichtliche Forschung in diesem Feld vorangeschritten und so war es an der Zeit, sich erneut dieser Thematik...

This paper develops and characterizes an index of trade policy restrictiveness defined as the uniform tariff equivalent which maintains the same volume of trade as a given set of tariffs, quota, and domestic taxes and subsidies. We relate this volume-equivalent index to the Trade Restrictiveness...

"Money and fiscal policy precipitated many of the most significant political conflicts between England and the American colonies in the seventeenth century. Competition over silver currency in particular provoked a transatlantic crisis in the 1670s and 1680s, ameliorated only with the onset of a...

In the eighteenth century, a fierce political debate broke out in Sweden about the causes of an extraordinary depreciation of the currency. More specifically, the deteriorating value of the Swedish currency was discretionarily blamed on monetary causes, e.g. the overissuing of banknotes, or...

Polis und Oikos: Antike griechische Wirtschaft und deren Spiegelungen im Aristotelischen Denken -- Das ökonomische Denken im Mittelalter -- Das Zeitalter des Merkantilismus -- Die Physiokratie -- Die Klassik -- Auflösung der klassischen Politischen Ökonomie -- Der Marginalismus und die...

"It is now widely acknowledged that history is useful, even essential, because it helps us predict the future. The history of ideas in economics, as in other fields of inquiry, plays an important role in enlightening current researchers as they endeavour to understand contemporary events and...

Introduction -- Cheng Minzheng and the rise of Huizhou consciousness -- A land of prominent lineages -- Wang Daokun and the promotion of mercantile lineage culture -- "A Confucian heartland of women" -- The local religious order -- Conclusion.

President Trump’s actions on trade have not quite matched his rhetoric, but the worst may be to come. Though the political opposition to his protectionism is formidable, so are his conviction and determination and he possesses a wide array of instruments to pursue his goals. The trade doctrine...

Adam Smith proposed three contradictory theories of the British Empire in the Wealth of Nations. The first view holds that the empire was created for merchants eager to monopolize the colonial trade. Smith concludes that “Great Britain derives nothing but loss” from the colonies. In the...