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| Author: | Yoffie, D. B. Milner, H. V. |
| Title: | An alternative in free trade protectionism: why corporations seek strategic trade policy. |
| Journal: | California Management Review
1989 : SUMMER, VOL. 31:4, p. 111-113 |
| Index terms: | TRADE POLICY FREE TRADE TRADE BARRIERS CORPORATE STRATEGY |
| Language: | eng |
| Abstract: | Conventional theories of the political economy of trade argue that industries in import-competing businesses favour protectionism while multinationals and export-dependent corporations advocate unconditional free trade. However, many multinational industries have recently advocated "strategic" trade policies: i.e. potential closure of the domestic market if foreign markets remain closed or if foreign government subsidies are not reduced. The choice of a strategic trade policy is explained. If an industry is characterized by firms with symmetric strategies, it will seek strategic trade policy; but if the industry is highly segmented, it is more likely to become protectionist. Four studies are presented and strategic implications are demonstrated. |
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