Tariff Wars and Trade Deals Reshape Global Economy, Empower Voters
The article explores how international trade agreements and political economy interact. It looks at topics like tariffs, customs unions, and trade policy in democracies. The researchers use strategic and welfare theories to analyze the effects of free trade areas and regional trade agreements. They find that big countries tend to win tariff wars, and that trade shocks can impact macroeconomic fluctuations in Africa. The study also delves into voter preferences for trade policy instruments and the sources of protectionist drift in representative democracies. Overall, the research sheds light on the complex dynamics of international trade and its implications for different countries and economies.