The Slide to Protectionism in the Great Depression: Who Succumbed and Why?

  title={The Slide to Protectionism in the Great Depression: Who Succumbed and Why?},
  author={Barry Eichengreen and Douglas A. Irwin},
  journal={The Journal of Economic History},
  pages={871 - 897}
The Great Depression was marked by a severe outbreak of protectionist trade policies. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the gold standard resorted to tariffs, import quotas, and exchange controls to a greater extent than countries that went off gold. Just as the gold standard constraint on monetary policy is critical to… 

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