January 2019
Intermediate to advanced
576 pages
33h 19m
English
7.2 Know the instruments of government intervention.
The main instruments of trade intervention and the traditional forms of protectionism are tariffs and nontariff trade barriers. Individual countries or groups of countries, such as the European Union (europa.eu), can impose these barriers. However, barriers can be a serious impediment to cross-border business. The United Nations estimated that trade barriers alone cost developing economies more than $500 billion in lost trading opportunities with advanced economies every year.11 Exhibit 7.2 highlights the most common forms of government intervention and their effects.
Types and Effects of Government Intervention
| Intervention Type | Definition ... |
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