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Aspects of the Theory of Tariffs (Collected Works of Harry Johnson) by Harry Johnson

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13.  The Theory of Effective Protection and Preferences*1

In the past five years, international trade specialists concerned with the theoretical analysis and practical measurement of the impact of commercial policy on world trade and specialization patterns have been developing and applying a new approach to this range of problems, the concept of effective protection, or as it is variously termed, implicit protection or protection of value added.2 Interest in these policy problems, which had subsided to a low level in the immediate postwar phase of concern with chronic dollar shortage on one hand and with import-substituting policies of promoting economic development on the other, has been revived as a result of three developments. First, the ...

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