An Economic Analysis of a Troubled Relationship, Second Edition
The importance of the manufacturing industry across the world has increased since the financial crisis of 2008. Manufacturing is seen as a prime job-creating sector and for this reason one might expect that the protection of manufactured goods in the EU and the rest of the world will begin to gain importance as countries make an effort to boost the domestic manufacturing sector. Certain labour-intensive sectors such as textiles already continue to be relatively highly protected by both tariff and nontariff barriers globally. This chapter analyses the issues surrounding the impact of the EU’s trade barriers in industrial products and overall trends in the manufacturing sector. The first section considers the structural shift within the manufacturing sector in developed countries and the growing importance of technology-driven industries. It discusses the significance of manufacturing for output and employment in the EU and other industrial nations. The second section reviews the data on trade in manufacturing goods. Section 3 describes the level and evolution of barriers to trade in goods in the EU and the US in recent years. Section 4 presents estimates of trade barriers which take into account both tariff and non-tariff barriers. Section 5 outlines the main empirical findings on the welfare effects of trade liberalization.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.