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 J. Eichengreen and D. Irwin},
  journal={History of Finance eJournal},
  • Barry J. Eichengreen, D. Irwin
  • Published 2009
  • Economics
  • History of Finance eJournal
  • 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. Gold standard countries chose to maintain their fixed exchange rate and… CONTINUE READING
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